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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can_university View Drop Down
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Joined: 16/March/2005
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    Posted: 16/March/2005 at 11:35am

Hello

My name is nIcole and i am hoping someone can help me out with a little information. I am currently still in school but have been informed my Student loan has gone default and to a collection agency. They said i never sent my shedule 2 form to prove i was in school. So i got a phone call from a collection agency the other day and he had me in tears. i owe 18000.00 and i have 2 years left to finish my nursing degree. He told me to borrow the money and pay it in full. Or my payment would be $800 a month. I am so upset. I finally said i could get another job and maybe pay 200 a month. But i dont know how i will do that. I think i could afford $100 and still stay in school. but will they allow me to do that. that wont even cover the interest. So, basically i need to know....Is there a minimum you have to pay back. i dont want them to garnish my wages.

 

Thank You

Nicole

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SolveStudentDebt View Drop Down
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Joined: 05/November/2003
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 16/March/2005 at 12:21pm

 

 Hi Nicole,

 Did you send a COE (confirmation of enrollment - Schedule 2) in initially?

 If you would like some help, contact me.

John LeBlanc
The Canadian Financial Wellness Group
 
Tel: (902) 464-8727
 
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mesonic View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote mesonic Quote  Post ReplyReply Direct Link To This Post Posted: 16/March/2005 at 12:44pm

Hi Nicole,

The EXACT same thing happened to me.  Did you send the Confirmation of Enrolment?  I did...twice.  THey still sent me to collections.  However, after a LONG and VERY miserable battle with the bank.  I have finally got them to agree to take the loans back.  I had to go through MANY MANY different people but it can be done.  You should not have to suffer for the bank's errors.  Be persistent with them.  Demand that they do something to help you.  Don't take no for an answer.  Which bank are you're loans with.  If they are with CIBC I may be able to point you to a starting point to getting something done.

K.

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