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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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CIBC Problems
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I was on interest relief and than when that ran out I went on only interest payment which was stupid of me cause they didn't tell me that my payments would go higher ones I started to pay my loan again. I found out that the hard way, now I am on disability and have been for about 5 years which they know. I called two months ago to make sure my loans were up to date and everything I do that every couple of months but when I called they told me that I was short by $1 something per month for the last year and a half so I told them should they have not told me sooner as I am on a fixed income. well they told me that at that time it was no big deal but now they want the full amount that I am behind on my Ontario loan. so ones again I told them I am on a fixed income and have two children to support so now they raised my Ontario to $59 a month until it's paid instead of $56 so this has gone higher. My federal is already $122 a month, so I applied for my second debt reduction for the federal last year got it but have to appeal CIBC refusial letter so what do they do this year they refuse me again stating that I have not made 12 consecutive monthly payments. So onces again I call them and they tell me that I have been behind and just got caught up ones again I told them why have you not told me that when I call to make sure my loan is in good standing. I got the same thing it was not important at that time. So now ones again I have to appeal their decision. If anyone here knows if there is someone I can contact so I don't have to deal with these morons that would be great or if any one has any sugguestion on what I can that would be great too. I just don't feel it's right that this bank is allowed to mess up people's credit and get them all upset when they are trying to do their best to pay loans off. I am sorry if I sound pissed off or upset but I am I have been going through this for about 5 years now and I am at the end of my rope. 
