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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Forum LockedRBC lost payments!

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Joined: 20/July/2006
Location: Canada
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Post Options Post Options   Thanks (0) Thanks(0)   Quote RealBadCS Quote  Post ReplyReply Direct Link To This Post Topic: RBC lost payments!
    Posted: 20/July/2006 at 4:43pm

a bit of background here... I am returning to school in Sept, so I applied for a student loan, which was restricted because of my outstanding loan that was in default.  So after MANY phone calls no one could find the loan... finally located it with Nordon. 

I paid $1200 and $1500 on the 10th and 13th of July... RBC has no record of these payments!  Apparently the cashiers should never have taken the money from me... it should have been paid to Nordon... but no one told me that?!  So now they are telling me that it could take up to 30 days for the payment to show up... The only record of the payment as of this date is the receipts I was given when I paid the money. 

So here I am in a situation that cannot be righted.  I have to pay of the old loan before the new one is issued.  I start in less than 6 weeks and I am not going to be able to get the new one in time to go back to school.  I am so completely frustrated! 

Any one have any suggestions???

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