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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Struggling View Drop Down
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Joined: 27/August/2006
Location: Canada
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    Posted: 27/August/2006 at 8:39pm
I just found this site about 10 minutes ago.  I can't believe it.  I read a few sites and the lives are just like mine:  I worry everyday, much of the day...lying in bed, on the bus.  Somebody else wrote how they use to be outgoing/social and now they're not.  Thinking about my loans and how to keep above water all the time has done the same to me.  I feel very defeated in many ways.

I'm 30 years old.  I have a debt at around 30000$.  The past 10 years I have either been in school or paying off student loans.  Thus, I have no savings. And to make it worse financially I'm an actor.  To my credit,(and to give you an idea of an actor's financial life) if I may, I have been employed in my field about half the time since graduating from theatre school just over 2 years ago.  And compared to the amount of time many other actors work, I can only be grateful.  I'd say, in that time, I've made 16500$, before  taxes and agent's commisions.  Obviously, I've supplemented other ways, as much as I can:  1) Waitering (comes with being an actor, right?) during the down times.  Though today was another example of a setback: 
I'm doing a show right now.  Rehearsals and performances have been going on for the past 5 weeks.  I have one more week left until my contract ends and again unemployed.  The show is out of town so I took a leave of absence from my waitering job.  I visited my restaurant today to let them know I could come back next week but they laid me off instead, saying that presently they had enough servers.  Now things are URGENT, I have a week of work left and no income following (which is a common situation after a theatre "gig").  And right now, I'm only making 350/week from my show.
2) Asking my Mom for money.  I don't like the thought of having to live off my Mom at my age, especially when she'll be retiring next year.

Julius' story is so much like mine.  I have a girlfriend that means the world to me but a part of me is just waiting for the day when the finances will be too much for her.  And as some one else said,  I probably wouldn't pursue other relationships if it happened.  Who wants to date someone with huge debt problems?  And when I was younger I thought going to post-secondary school would be (as I was taught) a way of having a secure life.
I haven't checked but I should have a great credit rating, I've never been late with a payment.  But I am very tired: mentally, physically, spiritually.

I heard just the other day that your debt can be reduced after 5 years.  But that you have to go through a certain amount of "debt relief intervals" to finally qualify for that.  The debt relief is something I had heard about a year or so ago, but where do I get started?  My bank is CIBC but I find it very hard to get help from them.  Especially to volunteer information and answers (like how to get started on debt relief).  Could someone please tell me?
Thanks.
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