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: 01/April/2014 at 8:56am
My husband and I are looking at either bankruptcy of consumer proposal. 
The trustee will only visit our area if they have 3 or more cases, and that maybe another 2 months.

I have 30,000 student loan defaulted and held by hrdc as well as 10,000 OSAP in collections. I have been out of school for 8 years.

I have been very lucky to have finally gotten a fabulous person from hrdc on the phone and they have changed my min payment to $30 for a few months.

I am asking if either a consumer proposal or bankruptcy will remove the student loan from hrdc or will it need to be rehabilitated first?

I can not afford to rehabilitate it unless i use credit.

Thank you, I am very glad to have found this forum!

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Post Options Post Options   Thanks (1) Thanks(1)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 01/April/2014 at 9:19am
With a consumer proposal you need to make payments... If you can only afford $30 a month, I don't think you have the funds for a proposal.   From what I've heard in terms of how banks and credit reporting agencies  treat proposals, they are treated just the same way as bankruptcy..

Also, HRSDC and OSAP are not known to accept proposals...
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Mark OMeara
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Post Options Post Options   Thanks (0) Thanks(0)   Quote familyfirst Quote  Post ReplyReply Direct Link To This Post Posted: 01/April/2014 at 9:32am
Thank you so much for the info! i appreciate it very much. We were advised by financial counsellor to file for bankruptcy two years ago, but we really wanted to try before giving up. 

We have come to realize that this may be the best for our family even though it is a sad and difficult undertaking :(

I really hope that my student loan will be included as it is our largest debt and largest monthly payment. It was $658 per month.
OSAP collections are the most horrid people to deal with :(
they called multiple times a day asking for payment in full and refusing any monthly payments.
We are not frivolous people and had zero debt before starting University and subsequently a family (at a much later stage of life than most).
It will be good to  move on

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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 01/April/2014 at 10:01am
Years ago I was in the same boat as you.  I tried my best, did everything I could, and yet was still in financial trouble.  I ended up volunteering for a motivational event where they had some really dynamic speakers.  I had the chance to speak with three very successful people.  I explained my situation and they said "have you done all you can?"  I said yes, and all three said "then walk through that door and get it over with." All three confided that they had all been through bankruptcy and started over.  It was good advice, and it was still difficult for a few years..... but it was good advice to try to clear things up and move forward. Back then loans weren't discharged but at least that's all I had to deal with after the bankruptcy.  It wasn't ten years (no changed to 7 and 5 if hardship) since I finished so my student loans weren't included.

Keep us informed of how things go... The student loans system is broken... and you're honestly trying to work with a broken system.

 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Insane Quote  Post ReplyReply Direct Link To This Post Posted: 05/April/2014 at 8:45am
You shouldn't have to wait months to file bankruptcy.  People file bankruptcy from out of the country.  If you know you are going to be filing bankruptcy, making payments on your debt is throwing your money away.  Find a new trustee.
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