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 Locked12 yr old BC student loan

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newguy111 View Drop Down
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    Posted: 17/May/2012 at 12:30am
Thank you for all the wonderful advice that you offer to people. I hope u can help answer a few of my questions. My history: 
I have an old BC student loan/ CSL from Scotia bank from 1996-1999. I was unable to pay, and had an opportunity to leave Canada for 3 years and took it. I never once paid back any monies, or acknowledged the debt. I returned to Canada in 2004 and finished my undergrad and paid out of pocket. I got into some trouble with a credit card debt, and settled it with CBV last year. On my Equifax report no mention is made of this debt. As well, I have filled income tax every year since I have returned, and filled as a non-resident for the years I was away. I have never had anything taken by CRA for this old student debt. I have been a ON resident now for 5 years, and last year successfully (with a co-signer) received a Prof Student line of credit. When i was approved for this line of credit, nothing about this debt came up. I still to this day have not heard anything about this old debt. Now my questions: 

From what I have been reading, can i safely work under the assumption that the debt statute has been passed and this debt is written off, due to the fact it is from BC and 1999? what kind of trouble, if any, could I expect?

The more pressing: i am now in a position where I may have to apply for OSAP to continue my studies. If I apply to the program, am I at risk of this old loan being pursued by anyone?

Thanks so much for any advice you can offer. 

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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: 18/May/2012 at 8:19am

BC LAw does not apply to federal student loans remember. Federal laws supercede any provial ones. The only way you can know if the limitations are in effect is to get in there and do that examination. You can assume, however - the system is out for money and you how the system works.

If you reapply for more student loans, even with OSAP and the MTCU. you will be required to pay any outstanding student loans that are outstanding. Applying for a new loan doesn't constitute acknowledgment though.
 
Johnny
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

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