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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jeremy_nb View Drop Down
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    Posted: 25/February/2010 at 9:48am
Does anyone know how one goes about seeing if their old unpaid student loan is still active in the goverments systems? I left school back in 1997 and due to various financial circumstances I was unable to repay my student loan. It is not on my credit report. I am wondering because I am now looking at going back to school and was going to apply for another loan. Is there a way I can find out whether my old student loans are on file?
 
Sincerely,
 
Jeremy
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blackcat View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote blackcat Quote  Post ReplyReply Direct Link To This Post Posted: 25/February/2010 at 12:50pm
I called CRA to find out where my old Federal student loan and they told me that it is inactive and out of collections. I had them send me a statement which I received today and it even shows they stopped tacking on interest in 2008. Guy on the phone described the debt as "dead". Whether this means I would get more funding I don't think so, because the records are always there.
The number I called for the information is 1-866-602-9454.
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mermaid54 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote mermaid54 Quote  Post ReplyReply Direct Link To This Post Posted: 27/February/2010 at 2:58am
While there can be a point they will stop coming after you and I have heard the term "uncollectable" you can not get a new loan until you pay the old one.
That is the one draw back.
 
Not paying back your student loans can have a big impact on new student loans, even one you don't expect. My friend missed one payment and about 5 years later her spouse applied and was turned down because he married someone who missed a payment.
 
The books don't get erased in terms of getting new loans - unless you pay and then they often will forgive old missed payments but in her case she did pay that payment the next month and still - no new loans for her spouse.
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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: 27/February/2010 at 3:43am
Old debt is always active int he system. You wouldn;t get more funding though. You would have to address the inactive loan to qualify.
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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Post Options Post Options   Thanks (0) Thanks(0)   Quote brandee Quote  Post ReplyReply Direct Link To This Post Posted: 27/February/2010 at 5:57am
i'm in the same situation Jeremy, so please post what you find out.  
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