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 LockedI have a confession...

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Kristian View Drop Down
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Joined: 18/February/2004
Location: Canada
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Kristian Quote  Post ReplyReply Direct Link To This Post Topic: I have a confession...
    Posted: 20/February/2004 at 8:11am
Through no fault of my own, I have become a shareholder of CIBC.

Does anyone want to hurl insults at me?  I wouldn't blame you.

Can I, as a shareholder, use my leverage (if I have any) to benefit anyone here?  Or should I cash out as fast as I can and boycott CIBC?

I'm pretty new at this shareholder bit, so advice may be needed.

Oh, I also have a CIBC student loan that's behind a payment or two, so I occupy both sides of the fence.


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MegaPo View Drop Down
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Joined: 24/June/2002
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Post Options Post Options   Thanks (0) Thanks(0)   Quote MegaPo Quote  Post ReplyReply Direct Link To This Post Posted: 20/February/2004 at 9:05am

Originally posted by Kristian Kristian wrote:

Through no fault of my own, I have become a shareholder of CIBC.

<cheer!> 

Congratulations!!  You are now one of the most important people in the world (at least according to CIBC).  You deserve the best treatment, and your needs are to be fulfilled at any cost!  Great!

Originally posted by Kristian Kristian wrote:

Oh, I also have a CIBC student loan that's behind a payment or two, so I occupy both sides of the fence.

Oops, sorry... Student loan customer?     You suck!  In the eyes of CIBC employees, you are worthless.  Too bad.  Deadbeat!

--Sean (highly jaded)

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administrator View Drop Down
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Joined: 25/January/2003
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 20/February/2004 at 9:23am
As a shareholder you could attend the annual shareholders meeting on Feb 26th in Winnipeg and raise the issue and hand out boycott cibc flyers!

Mark
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Kristian View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Kristian Quote  Post ReplyReply Direct Link To This Post Posted: 20/February/2004 at 9:32am
Er...I probably won't be able to make it to the meeting, as I have a job interview then.  I could have sent a Boycott CIBC flyer with my proxy ballot, but I sent it away last week before I stumbled on this forum.

So I guess my student loan and shares cancel each other out?  Are they mutually exclusive?  Crap.  I thought I would have super powers or soemthing.

I'd probably need a lot of strength to bend the will of bureacratic dunderheads.  They don't respond well to stimulus.


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