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 LockedApplying for RAP >15 years repayment

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old hippy View Drop Down
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Joined: 20/August/2005
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    Posted: 09/January/2014 at 4:24am
Hi,
 
How is everyone? 
 
I'm almost at the 15 years of repayment mark - graduated in 2000, and had 5 years of what was interest relief at that time. 
 
I had good paying contract jobs and didn't apply for RAP, because the monthly payments would have been way too high, so I've been paying interest only. 
 
I've been laid off (again) and am AFRAID to apply for RAP and lose the interest only status after all these years.  Does anyone know whether I will have to be on RAP for the full 15 years, or how does that go?  And if I am over the 15 year repayment period - will I qualify?
 
When I fill in the RAP estimator - "I've been in repayment for 164 months out of 180 months" and the loan will be re-amortized...  ??
 
Many thanks,
 
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