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 LockedOld NSL Account Appears as Open in Credit Report

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trk996 View Drop Down
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    Posted: 14/February/2010 at 7:48am
Recently I checked my credit report (from Transunion) and it shows an account that I paid off years ago as still open.

There are 5 other student loan accounts in my credit report, 1 BCSL and 4 RBC ones. They all say closed and paid... I don't know why there are 4 RBC ones instead of 2 but it doesn't seem important.

The Canadian Government Loan shows the condition as "open", the balance is blank, the high balance shows "5875", payment is "0", remarks are blank, and the 2 year payment history shows the last payment being made Oct 2005.

What I would like some advice in is whether I should complain to the National Student Loan Centre to get it closed or leave well enough alone since my credit report is all good otherwise (good score). I'm worried it would be a hassle to deal with them. Also I checked my documents and I can't find proof of payment, I think it's because I used an online bill payment with my old bank account for a final balloon payment, and they never sent me a statement after that.

So what do you think, ignore it or try to get everything right? Thanks.
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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: 14/February/2010 at 1:03pm
The items you see are the actual "paper trail" of the loans. The ones that show closed and paid are either loans ypou yourself paid out, or if in default, paid by the government guarantor. I can see your concerns though because all the activity does sort of clog your report up with activity.
 
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Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

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