This website is a testimony to the problems Canadian Student Loan borrowers experienced from approximately 1996 to 2008 and until their loans were paid off.

The privatization of the Student Loans system by the Chretien and Martin Liberal governments broke the system and defaulted thousands of borrowers who were trying to pay their loans. There were even stories of suicide due to the harassment of borrowers.

Read the report that I prepared back in 2007 here. Canada Student Loans-The Need for Change Fortunately the new Conservative government at the time revamped the program and fixed the system for new borrowers, but borrowers under the previous program were left with ruined credit and continued harassment from debt collectors.

I call on the Canadian Government to apologize to the borrowers affected by this fiasco and make amends.

Unfortunately the Liberal government is again clobbering the Education system with their upcoming changes to International Student Visas. Yes, there's a problem, but instead of a well thought out plan, they have pulled the emergency brake on the train causing a derailment. This has introduced unprecedented instability for both private and public education institutions who serve both international and local students.

Universities can't plan. I've heard of courses being cut because the government has no process in place for universities to send the newly required acceptance letters to the government.

This means that students who have been accepted can not attend courses that start in the summer 2024 semester. With cut sections, current Canadian students will have trouble getting courses, and may have to switch to part-time which changes their enrollment status and might trigger repayment of their loans or ineligibility for funding. I've seen this before. It wreaks havoc on the student loan borrowers.

Again, the Liberal government has messed up the education environment. Will the new system needed in a rush for the acceptance letters be the new Arrivecan scandal?

I call on the government to implement a slower phased in approach and delay the requirement of the acceptance letters until a process is in place to submit these letters.


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Forum Locked$2600 to make $5777 go away. Sounds Fish

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Huggy View Drop Down
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    Posted: 24/January/2005 at 7:08am
I received a call from a Ms. Chong of TransUnion, who stated that the risk portion of my Canada Student Loan was not on my Credit file and that if I make a payment of $2600 that the whole amount of $5777 would go away?  I was almost sucked in by here nice telephone demeanor.  Of course I cannot get an instant view of my credit report without a credit card.  Is there any validity to what she has stated or is this an attempt to get a ballon payment?  She even gave the old standard about going to a lender (at 33% interest) to get the $2600.
"As life goes on in Desperation and Hate; so to must it go on in Contentment and Happiness
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whereto? View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote whereto? Quote  Post ReplyReply Direct Link To This Post Posted: 24/January/2005 at 7:38am
99% sure you are being screwd over on that one.  Ask her to fax something to you stating this.
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Huggy View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Huggy Quote  Post ReplyReply Direct Link To This Post Posted: 24/January/2005 at 7:45am
Thanx whereto.
"As life goes on in Desperation and Hate; so to must it go on in Contentment and Happiness
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Post Options Post Options   Thanks (0) Thanks(0)   Quote kwelmm Quote  Post ReplyReply Direct Link To This Post Posted: 24/January/2005 at 11:13am
Huggy, that does sound A LOT fishy.  Go with what your gut is telling you!  If it's all good, then ask TransUnion for confirmation from the creditor that this is what the deal is.  Sneaky snakes in the grass!!!!!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Islander Quote  Post ReplyReply Direct Link To This Post Posted: 24/January/2005 at 3:01pm
Never never never never go for a settlement unless it is offered on the client's letterhead, signed by a person to whom you have spoken or can speak to personally and vetted by YOUR legal expert.
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