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.


  New Posts New Posts RSS Feed - CSL from 1987
  FAQ FAQ  Forum Search   Register Register  Login Login


Forum LockedCSL from 1987

 Post Reply Post Reply
Author
jkrop View Drop Down
Newbie
Newbie


Joined: 01/March/2012
Location: ladysmith
Points: 4
Post Options Post Options   Thanks (0) Thanks(0)   Quote jkrop Quote  Post ReplyReply Direct Link To This Post Topic: CSL from 1987
    Posted: 14/May/2014 at 1:17pm
I live in B.C. and in 1987 I borrowed $4000.  For over 22 years I never made a payment or anything.  I also didn't file taxes for over 10 years. I kinda fell off the radar.  In 2009 I filed 10+ years worth of back taxes and was owed over $5000. When I submitted my tax returns I was hit with the information that I owed over $11,000 on the student loan from 1987. The $4000 principle and over $7000 in interest. They took my $5000+ return and every year they continue to take my tax returns. There is about $250/year interest on this loan and each year they get about $500 from my tax returns. I figure they have been paid over $7000 on a $4000 loan and still tell me I owe them $5,707.53. Now they are after me to make monthly payments to collect the rest. My annual income is approx $15,000/year so not a ton of extra money to pay them.

Johnny if you can help let me know. I owe $5k if paying someone less than that to end this is an option I would consider that option.
Back to Top
Sponsored Links


Back to Top
 Post Reply Post Reply

Forum Jump Forum Permissions View Drop Down

Forum Software by Web Wiz Forums® version 12.07
Copyright ©2001-2024 Web Wiz Ltd.