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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farism9 View Drop Down
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    Posted: 30/April/2009 at 7:59am
Hello everyone,
 
I have received an application for debt reduction 3 months ago.  I wanted to send it yesterday and I had some questions for the NSLC, so I called them.  To my surprise, they told me I was not eligible for the application since I have been out of school for less than 5 years.  I told them that I used up all my interest relief months, and I have no choice.  They said that it is a main criteria that I have to be out of school for more than 5 years.  Is that true?  Is there no way around thsi?
 
Also, another critical question, I may be able to manage to receive a loan (with less interest rate than the OSAP loan).  If so, I will be able to pay off my OSAP loan ALL at ONCE.  I have heard of arrangements being made where one can reduce their loan just becuase of the fact they are paying it all at once.  Please advise if this is possible
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farism9 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote farism9 Quote  Post ReplyReply Direct Link To This Post Posted: 07/May/2009 at 4:48am
ANY answers?  Anyone?  Cry
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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: 11/May/2009 at 2:50am
I answered this for you in another forum somewhere. Please check it out.
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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