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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frustrated-guy View Drop Down
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    Posted: 08/June/2005 at 7:14am

Hi,

Does anyone have any Scotiabank Government Student Loan leaflets, posters, web page printouts, booklets or advertsing for the period 1995-2000?

Thanks

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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 08/June/2005 at 2:40pm

  What exactly are you looking for?

 Johnny

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Post Options Post Options   Thanks (0) Thanks(0)   Quote frustrated-guy Quote  Post ReplyReply Direct Link To This Post Posted: 13/June/2005 at 2:38am

Hi All,

I am looking for advertisements that say something like "you do not have to repay your loan while you are a confirmed full time student as the loans are interest free while at school".

"loans do not become payable untill 6 months after you graduate"

Thanks

 

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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 13/June/2005 at 2:44pm

It says that right in the CSLFA.

 Johnny

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Post Options Post Options   Thanks (0) Thanks(0)   Quote misslissa Quote  Post ReplyReply Direct Link To This Post Posted: 04/July/2005 at 8:11am

I had a student loan with scotia bank back in 1998. I ended up not finishing my schooling due to faults of the school that were beyond my control and therefor felt forced to discontinue my schooling.

Since then i have not recieved any letters about my loan, recieved one VERY nasty phone call and requested that all attempt to collect be in written corespondance and have not recieved a thing since. In summer of 2004, I phoned that collection agency, who told me that my loan was recalled (sent back to bank) and so i called the bank. They told me that the loan had gone to this other agency, so i phoned them. They told me it was recalled back to the bank and so upon phoning the bank again, they told me they didnt know where my loan was. I have not heard a thing since.

Does anyone know how i would go about finding out if that loan has reached the limitations for Statutory Barring? I am completely unable to repay this loan in this life time now (as the intrest wil climed way too high) and I am kind of afraind to pop my head out of this littlehole of debt i have been hiding in.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 04/July/2005 at 12:29pm

1. You can call your lender and ask them if it is statute barred. Bear in mind that they do not prefer to give their debtors information that will cause any restrictions in recovering the money.

2. You can go to a lawyer and pay him or her a couple thousand dollars to hopefully find out.

3. You can continue hiding under the bed until you feel the coast is clear.

 4. You can go to The CFW Group to get you the answers you are looking for as little as $400.00.

 Johnny

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Post Options Post Options   Thanks (0) Thanks(0)   Quote misslissa Quote  Post ReplyReply Direct Link To This Post Posted: 04/July/2005 at 4:11pm
So, if i find out that it is in fact statute-barred, how do i go about getting it off of my credit history so that it isnt in my way anymore?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 04/July/2005 at 4:23pm

 

 If your debt is statute barred re the recovery of the debt, that is different from the limitations for credit reporting. If the bank has it reported, it can remain there for 6 years - less one day from the day of last activity (payment or acknowledgment).

 The banks are pretty good at keeping them reported. The best thing to do is ask them to remove it if you can conclude that it is barred. They either will or won't - and you can escalate that to a legal matter for results.

Just remember that a lender is never going to do or say something to one of their debtors to allude hin or her to the fact that there is nothing they can do to recover the money. This is where people who are trying to determine if their debt is barred is very difficult. Creditors and lenders try to keep the debt alive - and trick people into thinking it is not barred. It happens.

 Johnny

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Post Options Post Options   Thanks (0) Thanks(0)   Quote misslissa Quote  Post ReplyReply Direct Link To This Post Posted: 06/July/2005 at 9:21am

So, another route i thought about is possibly applying for a student loan pardon. I had a friend wo got one on hers, and she didnt go through any where NEAR the amount of things i went through with it.

The only thing i am afraid of, is that i will pop my head up looking into a pardon, and then BAM! (that whck-a-mole concept)

Any info on pardons?

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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 06/July/2005 at 11:25am
To my knowledge, there is no such thing as a student loan pardon.

There is debt reduction, but only after you have exhausted 60 months of interest relief.

There was a osap reduction program, but again, I've never never heard of a "pardon"

Mark
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 06/July/2005 at 11:26am
If you are looking for scotia bank student loan info...
try http://web.archive.org/web/*/http://scotiabank.ca

This is a new site with website archives!.

Mark
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Post Options Post Options   Thanks (0) Thanks(0)   Quote WantOut Quote  Post ReplyReply Direct Link To This Post Posted: 10/July/2005 at 12:52pm

Misslissa:

As far as I know, a "pardon" only refers to criminal convictions .... a student loan is a debt, not a criminal conviction.  Can you get some more information from your friend on what exactly happened with her student loan?  If there are such things as "pardons" for student loans, there would be a whole lot of people on this site who could use that information!!!

In order to discover new lands, one must be willing to lose sight of the shore for a very long time.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Pixxa Quote  Post ReplyReply Direct Link To This Post Posted: 10/July/2005 at 4:14pm

Hi Mark

The above link for Scotia Bank archives reroutes the listed links to their main web site.  

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Post Options Post Options   Thanks (0) Thanks(0)   Quote fmtony Quote  Post ReplyReply Direct Link To This Post Posted: 05/December/2007 at 9:27am
Didn't Bob Rae do some student loan amnesty thing years back, basically writing off bad debts?  I can't remember what year this was, and its too bad that it was wayyy before I ever took a student loan.
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