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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dennis View Drop Down
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    Posted: 13/November/2014 at 8:03am
hi
 
ok long time user from the past.
 
im in term one lpn school just finishing first term
 
applied for loans in aug 3, 2014
 
I have been approved for loans of 12, 824
 
but today I found out I cant get more loans
 
I have z1/2 restriction on my Canada student loan file
 
because I got debt reduction I cant get more loans till I pay my debt reduction back
 
so I think my debt reduction was 26k. then I paid off balance of $1500
 
I was told by 4 different college that I could and was eligible for additional student loans.
 
I battled hard to get a criminal record cleared, save money, take science and math courses to switch to a job sector were there jobs, got kicked out of one nursing school due to bullying, at this school I was accused of sexual harassment. and now this. I only make 10.25 and iam 49 years old.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 13/November/2014 at 5:11pm
Who is telling you this?  Are you sure it was debt reduction?   It doesn't sound right.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote dennis Quote  Post ReplyReply Direct Link To This Post Posted: 14/November/2014 at 9:38am
Bcstudent aid said get letter cause I have restrictions on my file

Then I phoned bank they told me if I want new loans then I need to pay debt reduction back

Not sure its confusing

I am entering clinical next week so I need to know if I can pay
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 14/November/2014 at 11:59am
I'm not sure if the bank is giving you the correct info.  When did you take out the original loans?  
Did you default on the loans?  

Might be a good idea to go to your Financial Aid Office and inform them of this development and see if any additional funding would be available.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote dennis Quote  Post ReplyReply Direct Link To This Post Posted: 14/November/2014 at 7:26pm
hi ok I  better clarify
 
 
I took out original loans in 1997-2000. I got debt reduction in 2005. then in 2006 paid remainder off to royal bank
 
so couple years ago I got accepted into nursing. I have been using my own saving and working
 
so my funds are low
 
I applied for student loans in aug
 
I had to get restriction removed --so I phoned bank and they provided a letter
 
now I found out I need a federal clearance letter by studentaidbc. I contacted Canada student loans. they said z1/2 restrictions and then told me to phone the bank
 
so I phoned and the manager lady said I cant get more loans till I pay the debt reduction back. so I promptly told her to refer me to a website with the law.
 
so i better phone Canada student loans back on Monday
 
when i had loans i had so much problems with the royal bank.
 
no forms for interest relief, debt reduction doesn't exist. loans got put in the rears eventhough i was borrowing to keep them up to date. no manager, not in etc etc.
 
definitely they should be sued for false information
 
i hope i can get the loans. i would be nice of them
 
thanks for responding.
 
 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 15/November/2014 at 11:00am
I have never heard of having to pay back debt reduction to get restrictions removed.   There may be some misinformed people in the process here.  If the bank got debt reduction that should have been paid to the bank towards the loan so I don't understand why the RB would want you to pay that back....

Keep in touch with your Financial Aid office as ineligibility for student loans and/or financial need  can sometimes mean you are eligible for bursaries etc...

It's a good idea to make notes of all your conversations i.e who you spoke to and what they said...
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Post Options Post Options   Thanks (0) Thanks(0)   Quote dennis Quote  Post ReplyReply Direct Link To This Post Posted: 19/November/2014 at 11:14am
hi thanks,
 
nursing just didn't work. seems like they do not like men
 
I was accused of inappriate stuff and they tried to force me to sign some documents. bullied into the ground. it was extremely nasty
 
I left
 
but hope to find something else and get student loans
 
thanks again
 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote dennis Quote  Post ReplyReply Direct Link To This Post Posted: 06/December/2014 at 4:56pm
To update my loan never came even though I was approved in October..I obtained a federal clearance letter. So now I got to find out about provincial clearance. I am moving on from nursing and starting human resources management..

Long story after 5 months I still need to see if I got provincial restrictions

Who do I contact Bout provincisl clearance?

Since I left studentaidbc said to cancel my loan and reapply

Also looking for part time job since I lost mine

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Post Options Post Options   Thanks (0) Thanks(0)   Quote dennis Quote  Post ReplyReply Direct Link To This Post Posted: 10/December/2014 at 2:00pm
updating.

i was told to cancel my other loan by writing a letter and apply for a new one since iam transferring school

i cant apply for a new one till they erase the old one.

talk about systematic incompetence

summarizing
aug 3 i applied for a student loan
it took me since aug 15 to get my debt reduction removed
i have called over 45 times which includes bc student loans, canada, revenue, and the royal bank
after getting my restriction removed they said to write a letter to get a loan
i cant apply for a loan till they resolve the problems with this one.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 12/December/2014 at 3:20am
This is all too common with Davis and Henderson's NSLSC.
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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