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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yola View Drop Down
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    Posted: 01/October/2014 at 9:12pm
Wow I feel so lucky to have found this forum.
 
I went to school from 1997-2000, and had taken out student loans to do so - I believe they were considered Canada and Manitoba Student Loans... 
 
I filed for bankruptcy in, I believe it was 2005 with reference to an unrealted matter, and my bankruptcy agent advised my remaining amounts on my student loans would be included in the amount. 
 
A few years later, I realized my Canada Student Loan was not affected my the bankruptcy - and I made payments through Service Canada.  The federal government also began to hold back govenment issued monies (ie. gst payments, income tax return money, etc.) until such a time as the debt was paid in full.
 
Very recently I received a call - and I believe it may be a scam, which is why I am asking, claiming I owe money on a student loan. I advised my loan was paid and they were not forthcoming with the name of the institute they were calling from...   That said, I just wanted to ask...
 
#1 - My federal loan is paid.  Is there a chance that my Manitoba loan isn't?
#2 - Does the statute of limitations of 6 years on loans apply to Manitoba loan or is that exempt?
#3 - What agency/institute is responsible for collection of the Manitoba portion of a student loan?
#4 - Would a financial institution not contact you ever for this long and without notice or attempted contact with someone pass an accout to collections?
 
I strongly feel this is some scam artist trying to make false claims and get me to pay something not owed, but I just wanted to make sure something wasn't mixed up or missed. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 02/October/2014 at 1:42am
1. It is likely a risk-shared portion owed to a bank (CIBC, RBC, or Scotiabank).
2. Limitations apply in cases of bank risk and provincial guaranteed loans - except for newer Ontario and all Nova Scotia loans.
3. Manitoba government does their own recoveries. It wouldn't be a Manitoba direct loan though. It is likely a bank you owe.
4. Yes, they do all the time.

If I were to guess - you borrowed from RBC.  Yes, no?

Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
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Post Options Post Options   Thanks (0) Thanks(0)   Quote yola Quote  Post ReplyReply Direct Link To This Post Posted: 02/October/2014 at 6:18am
I believe the loan came through RBC.  What is strange is this place suddenly calling is calling from Ontario claiming to collect.   I've never heard from RBC.  I even tried to contact them a few years back (about 5-6 years ago)!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 02/October/2014 at 7:22am
This is common. I see it every day during mediation and intervention work for student loan borrowers.  If you want a limitation analysis and discovery done we can do it, and safeguard you in that process.  The problem for borrowers is that the onus is on them to discover, challenge, and remedy these issues. A very delicate and dangerous undertaking. We specialize in this field of work.

Best,

 

Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
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Post Options Post Options   Thanks (0) Thanks(0)   Quote yola Quote  Post ReplyReply Direct Link To This Post Posted: 08/October/2014 at 6:44am
I have done a lot further investigating into this matter and I think there is a mistake.  They claim to be calling with RBC.  Is it possible someone purchased the debt or is hacking an old list?

My student loan was taken out 1997-2000, and my bankruptcy was in 2007.  I was advised by the institution that handled my bankruptcy that with the exception of the Canada Student Loan through the province, my remaining balance was included and covered in my bankruptcy. 

The agency is telling me that people "often think that" but that they are wrong?  Why would my financial institution tell me that debt was gone if it is not gone?  I should think a professional handling a bankruptcy would be informed about these matters?

I am also wondering - since it WAS 7 years (although prior to them changing from 10 to 7) where does that leave me?

Can you also tell me where I could learn about your rates and services - and how I would reach you should this matter not be resolved?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote yola Quote  Post ReplyReply Direct Link To This Post Posted: 08/October/2014 at 6:48am
PS - I checked into the dates of my bankruptcy to confirm.  I had the wrong year before.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 08/October/2014 at 10:20am
If a rep at a local bank branch told ytou that then they don't have a clue.  The trustee telling you "Canada Student Loan through the province ..." is not correct either.  The loan was likely documented in the statement of affairs but they still pursue after bankruptcy. You are getting information from those whoa re certainly not versed and knowledgeable in those areas. Trustees know bankruptcy protocol.  Most of them don't even know how to properly interpret the law that applies to their business.

How much money do you owe for this student loan?


Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
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