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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wdinesen View Drop Down
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Joined: 02/March/2005
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Post Options Post Options   Thanks (0) Thanks(0)   Quote wdinesen Quote  Post ReplyReply Direct Link To This Post Topic: Pay off student debt.
    Posted: 07/June/2005 at 6:20am

    Well I am not too sure how the government ever thought that by breaking the backs of post grad students that they would ever provide a stable economy for the future of canada. 

I have done something different.  I could not find employment in my field that I was able to work and pay off my student debt.  Between the contracts and lay-offs and Social assistance and Ei. Things got really bad and creditors destroyed my credit rating.          ;      

( Sound familiar! )

So The last time I got laid-off I started a Program through EI SEB stands for Self employed Business.  This gave me a start into my field as a business that got many tax advantages.  Though business 101 stated 5 yr's for profit.  Hmmm need money now!  Well that was fine so I was aproched with a business opertunity that I could own and make passive residual income.  I started this and in a short while it was profitable.  So in combination of being Self Employed and a Business owner I started to make money. 

It may be a while before I can pay my student loan but I will and when that is done I will never have to work again because I will own my own business.

I wish they would have told us this when we went through the OSAP line!

Getting it done!

 

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