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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darius View Drop Down
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Joined: 14/August/2013
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Points: 3 		Post Options Post Options   Thanks (0) Thanks(0)   Quote darius Quote  Post ReplyReply Direct Link To This Post Topic: RAP Questions
    Posted: 14/August/2013 at 8:21pm
Couple of quick questions for RAP. I have a Canada Student loan only. I will have a job secured for August 2014, but don't have a job before then and will have very low income, so hoping for RAP assistance until then.

Q1) RAP reduces your payment partly, or down to zero. If you have very low income, does it cover the interest as well for the 6 months on RAP?

Q2) How hard is it to renew RAP for another 6 months, if your income stays low? As said, I have a job in August and can start paying regularly then, but until then I have very low income unless I can find a temporary job.

Q3) You cannot apply for RAP until 5 months into grace period, guessing it kicks in at the end of your grace period, if you are approved for it. However, you collect interest during the grace period. If you get RAP, can that cover the interest accumulated during grace period, or do you have to pay that?

Q4)For the RAP calculator, I have a loan about $30,000 and very low income. It is crunching out $0 total affordable payment and ~$300 "expected payment". Does that mean I would be paying $300 or does the $0 mean I pay nothing? Playing with the numbers there, there is no way to lower expected payment based on income, so I am guessing total affordable payment is what determines the RAP amount.

Q5)Another question related to interest in grace period. I am studying until the end of August, but apparently I was only confirmed until end of April with Canada Student Loans. I plan to upgrade that with the schedule 2 form, but I've accumulated interest during the summer since the end of April, as my grace period started then. If I update my enrollment before the end of the month (or potentially end of grace period October 31st), will they erase that interest or do I have to pay it?'

Why it is related to RAP is that, if I am going to have to pay this summer interest even with an update of my enrollment, then perhaps it makes more sense to not even bother updating my enrollment to Aug 31st and instead apply for RAP as I will qualify for that sooner (since I have a good chance of getting RAP). Because I will otherwise will have another 5 months of interest payments before I could get RAP (regardless of whether RAP covers grace period interest, if it does, all the better for applying for RAP now). However, if my confirment of enrollment update would clear the interest, then it makes sense to update it.

Thank you!
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darius View Drop Down
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Joined: 14/August/2013
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Points: 3 		Post Options Post Options   Thanks (0) Thanks(0)   Quote darius Quote  Post ReplyReply Direct Link To This Post Posted: 15/August/2013 at 7:01am
Trying to edit this post, can't see how too.

Two minor points:

I do actually have a BC student loan (around $2000) but it is consolidate into the Canada/BC student loan management. Not sure if that make a difference but mentioning it.

Also saw this on the website, if true it stresses getting my enrollment updated to August, but you never know what practical reality is different from the website:
"Note: If you are returning to school before the end of your grace period, you must provide us with appropriate documentation to prevent the accrued interest from being added to your loan"
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