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 LockedHELP! I'm confused about next step

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    Posted: 13/November/2012 at 10:16am
Hi there,

I have Ontario loans from '94-'97 that are in collection, Alberta loans ($4400) from '01-'02 and federal from both degrees ($19821). Today I visited a debt relief company and had a consultation. I would like to settle for less than a third of the debt if possible. The fees were high at the company but the lady was helpful and said that I could do it on my own. Has anyone out there been successful with this? Also, I'm extremely confused about the limitation thing. Do I have to go to court for that and does it wipe out the loans forever? Thanks!!!!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote mamasept Quote  Post ReplyReply Direct Link To This Post Posted: 13/November/2012 at 11:46am
Okay, I've done some more reading, so I may be even more confused, lol. My tax returns have been taken for the last few years but I don't remember acknowledging tthe debt in writing at all, so I'm puzzled. They've collected for both the Alberta and Ontario loans through CRA. Should I just try to settle for a lower amount? I have approx $28000-$32000 in debt and would like to settle for under $10000 with some help. I make very little income and my common-law spouse doesn't make a huge amount either.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 13/November/2012 at 1:11pm
Unless you have a lump sum payment, they will not settle.  Do you have a lump sum to offer them?  
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Mark OMeara
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Post Options Post Options   Thanks (0) Thanks(0)   Quote mamasept Quote  Post ReplyReply Direct Link To This Post Posted: 13/November/2012 at 1:12pm
Yes but it is slightly less than one third of the debt.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 13/November/2012 at 2:12pm
If you are willing to pay some fees, I think John Leblanc at CFWGroup.ca could do this for you.  If you hire him, he could also check whether any of the loans are stats barred.  
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