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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    Posted: 06/November/2012 at 8:18pm
Looking for a bit of guidance.
 
I originally had a loan in 1984 for about $4000.
 
This loan went into default and a Judgement was issued in '89.
 
Over the years I have attemped to settle this, but each time I had to deal with a different agent who gave me different rules that they said I needed to follow. The last one, ageed to a series of settlement payments and would send me a discharge letter. After a series of payments and no letter, I was told that the agent was no longer there and also had no authority to make such an agreement. Eventually I just gave up. This was about 15 years ago.
 
Since then, every year I lose my Income Tax rebate to pay this loan wich was judged at 13% (the rate then). I now have monthly interest of about $50 and over the past 25 years have paid back more than $30,000.
The loan office only contacts me at tax time to inform me that my income tax rebate will be diverted or to notify me of a new "fee" or "interest" that has been added.
 
I recently contacted the canada loan office and was told that I still owe more than $5000.
 
How do I approach this to:
 
1. Have the old debt gone.
 
OR
 
2. Get the interest reduced to a minimize the amount that continues to accrue.
 
Thanks for your insights,
 
Pavel
 
 
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