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 LockedWhere are my loans

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**TMS** View Drop Down
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Joined: 17/March/2010
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Post Options Post Options   Thanks (0) Thanks(0)   Quote **TMS** Quote  Post ReplyReply Direct Link To This Post Topic: Where are my loans
    Posted: 17/March/2010 at 11:33am
Hi, i took out some Canada and BC SL's in 2002, they're in collections now (and have been since 05) but I don't know where. Anyone know who I should call? Thx.
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walhar View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote walhar Quote  Post ReplyReply Direct Link To This Post Posted: 17/March/2010 at 6:31pm
I am in a similar situation. I have student loans from 1996 last I checked years ago the were $5500. It's killing me I am always worried about when they are gonna come and haunt me, it's actually incredibly stressful.

I would like to start making some payments, I can't pay in one lump sum but if the interest hasn't brought it to some insane number I could probably pay off within a year. I just don't want my wages to get garnished.

Has anyone ever dealt with this successfully?
Does the government handle all these debts now?
If I can track them down do you think they would accept a $600-800 lump sum then $500 monthly installments from there?

I tried contacted that CFWgroup but they never return my calls or emails. I would like to get this matter dealt with it bothers me daily.

Thanks for any input!
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Syne View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Syne Quote  Post ReplyReply Direct Link To This Post Posted: 19/March/2010 at 3:36am
If your loans are from '96 and you haven't acknowledged them for many years, you may want to be careful what you wish for.

If you go looking for trouble, and start giving out your personal information to anyone you're enquiring with, you're going to set off red flags and alarms. The result is that you may find yourself acknowledging a debt that's well past the statute for collections and even bankruptcy survival. You also might find that despite your good intentions and want to cooperate, the people collecting will make the process as complicated and time-consuming as humanly possible. Unless you just ran into some big money (lottery, inheritance etc) and have lots of time on your hands, I wouldn't wake the beast 13 years later.

As it currently stands, the loan should be off your credit report and legally uncollectable. I understand that people run into a bit of money and want to make themselves feel better by making things right, but the person who you screwed was the taxpayer and they have long since written off your debt. At this point, you'll only be funding and encouraging collection agencies and banks to keep up their questionable practices.

If I were you, I'd think long and hard whether the monster who would be collecting your debt in the year 2010 really needs to be fed.
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