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 LockedCan I open a bank account?

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yowza View Drop Down
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    Posted: 03/December/2013 at 12:17am
Hi, I just posted recently and found out that my bad csl is still on my credit report for another year. I recently got a cheque for back payment of old age pension (yes, I'm nearly 70 years old!) and would like to open an account in the local credit union.

What are my chances of being able to do this? Thanks.
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yowza View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote yowza Quote  Post ReplyReply Direct Link To This Post Posted: 08/December/2013 at 9:09pm
I guess nobody knows. I'll run it through my husband's account and keep it in a sock. I did search for this but couldn't find a thing.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 09/December/2013 at 10:55am
Here are some links.  Just do NOT open an account at any bank that held your student loans.

http://www.cba.ca/en/consumer-information/40-banking-basics/83-opening-a-bank-account

http://www.fcac-acfc.gc.ca/eng/resources/publications/yourRights/Pages/OPENINGA-Ouvertur.aspx


Looks like it should be no problem....as I said, don't do it at a bank that held your student loans.  They have right of offset and can take money out of your account. 

Mark
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Mark OMeara
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https://LaughSingWrite.com - http://bit.ly/heal2024
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Post Options Post Options   Thanks (0) Thanks(0)   Quote yowza Quote  Post ReplyReply Direct Link To This Post Posted: 09/December/2013 at 5:41pm
Thanks, Mark. I opened a separate account in my husband's bank which is NOT the offending institution. I told them right up front about the student loan and explained the circumstances. No problem as far as they were concerned.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 09/December/2013 at 7:02pm
Glad to hear it worked out ok!
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