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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Glenner View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Glenner Quote  Post ReplyReply Direct Link To This Post Topic: Outsources = Out of the know
    Posted: 12/September/2005 at 11:31am

I am very sure that I am not the only one frustrated with RBC's decision to outsource it's student loans.   But here is my little rant. 

The new student loans office (and the account management office) can only provide information on the loans.  They can't do anything with them.  Oh sorry...they can make a request which can take 3 days (if at all) to b3e completed...if they remember.  \

My OSL is in repayment and has always been on preauthorized withdrawl until the outsourcing.  From that point they have failed to take my payment.  Now I am probably the only one complaining about this, but i have done my best to ensure that i am always up to date.  I have requested that they advise me why the payment didn't go through and they have had no answer.  I have asked them to just take the payment so i wouldn't be in arears and they have yet to 2 weeks later.  I have asked for a letter from them expressing that it was their error that the loan is arears and I now up-to-date  as i have made a payment via NetBanking....

RBC was so much better before and now they go and ruin it.

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sharpetorium View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote sharpetorium Quote  Post ReplyReply Direct Link To This Post Posted: 12/September/2005 at 12:08pm

Hi Glenner,

I was told two different stories.  At the beginning of August I was told the government was taking over the student loans and at the beginning of this month they told me it was like a third party taking over payments and they advised me to send post-dated cheques.

To where?  I ask, to where do I send those post-dated cheques?  They weren't sure, but dammit, I should post-date them and send 'em off.

I have had problems in the past of them posting both payments to one account (I write RBC two separate cheques a month for the two loans), so much so that I got a note telling me they were going to send me to collections because they weren't receiving payment!

I just know this changeover is going to be a gong show, so I send my payments in one month at a time and still to the same address in Regina (where they originated from).  I think it would only be courtesy for them to send us a pamphlet...a flyer...a newsletter...but I have received nothing!  Nothing!  No one tells us anything!  GRRRRRR

 

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Staretz View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Staretz Quote  Post ReplyReply Direct Link To This Post Posted: 29/September/2005 at 2:04am
I received a letter about it.  I was out of the country from mid august to mid september so I cannot be absolutely certain when the letter arrived.  But hey it had my account number.  so for the foreseeable future, I will go to a Royal Bank branch and pay my monthly payments that way. Only 21 more payments before I can include my student loans in my bankruptcy.
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Mags View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Mags Quote  Post ReplyReply Direct Link To This Post Posted: 17/October/2005 at 10:51am

I received a similar letter today that told me the transfer was already in place.

How does this kind of behaviour stack up gainst the PIPED act (http://www.privcom.gc.ca/index_e.asp)?  Banks are not supposed to be able to disclose this kind of personal information without our consent.  The clause is even grandfathered so existing information is protected.  Unfortunately the privacy comissioner is not proactive, it responds to complaints only.

I plan to write them about this nonsense. It could end up with some major fines for RBC.

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Staretz View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Staretz Quote  Post ReplyReply Direct Link To This Post Posted: 18/October/2005 at 5:56am
I am going to continue paying by going physically to a Royal Bank branch adnd paying my installment.  much less chance of things going astray.
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Tong.Lin View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Tong.Lin Quote  Post ReplyReply Direct Link To This Post Posted: 24/October/2005 at 8:06pm

I got the letter back in mid-September before I send my confirmation of in school to the western centre.

Now I am kind of regert I should just send the letter to old centre, maybe that will be processed faster.

Now, I send them a registered mail, I faxed to them, they still haven't update my status that I am still in school.  They said it could take up 10 business days, it is already almost a month.

This is getting Stupid.

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SolveStudentDebt View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 25/October/2005 at 11:43am

Contact the exective customer response unit of Edulinx and get them to move on it.

If it is RBC, then make sure you document everything to show that you have followd all of the procedures. If anything bad happens, this way you have the argument and proof to dig yourself out.

Johnny

Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
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