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 - Old loans
  FAQ FAQ  Forum Search   Register Register  Login Login


Forum LockedOld loans

 Post Reply Post Reply
Author
moocow View Drop Down
Newbie
Newbie


Joined: 31/August/2015
Points: 2
Post Options Post Options   Thanks (0) Thanks(0)   Quote moocow Quote  Post ReplyReply Direct Link To This Post Topic: Old loans
    Posted: 31/August/2015 at 4:48am
Hello all,
I had a question about an old loan and the limit on the collection period. I graduated in May 2010 with about $20k to repay in combined Can-Ont student loans. I then went to study and work abroad and did't return until recently, only now finding work that would permit me to pay this off. However, I just read about the government moving to collect old loans (http://www.thestar.com/news/canada/2015/08/30/canada-student-loans-program-to-ramp-up-collection-efforts-documents-show.html) and about the six-year limit.

I have not been in touch with any collectors or with the NSLSC since, but they have withheld a tax refund from a short stint I spent working as a teacher a few years ago. I was wondering, then, would my loan become stat barred come May 2016? What are the rammifications of this to my credit score if any?

Thanks.

Back to Top
Sponsored Links


Back to Top
administrator View Drop Down
Admin Group
Admin Group
Avatar

Joined: 25/January/2003
Points: 1798
Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 31/August/2015 at 5:46am
Since you now have work to pay it off, you should start paying it off....

Administrator
Mark OMeara
Author of Let Go and Heal: Recovery from Emotional Pain
https://LaughSingWrite.com - http://bit.ly/heal2024
Back to Top
SolveStudentDebt View Drop Down
Moderator Group
Moderator Group
Avatar

Joined: 05/November/2003
Location: Canada
Points: 5996
Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 05/September/2015 at 10:13am
The government of Canada is in fact ramping up collection activity, and they are doing so with the full force of how Canada Revenue Agency operates.  So, what was once HRDC National Collection Services, and their lackadaisical approach, is no more. For Canada student loan borrowers, the old saying "this sh*t is about to get real" is in fact going to become just that.  I am seeing it start because of the increased number of interventions we are doing, and the attitudes and behaviors of the recovery sector are quite different now. So, for anyone who is intent on frustrating the system, it would be a very good idea to reconsider that. Some of that group spill in and try to use The CFW Group Inc to help them and we've had to expel many people. If you are angry at the system then that is ok. For many, there is good reason to be angry and bitter towards it because of how it can victimize individuals. However, if you want to "screw" the system in return for whichever reason, they (the system) will make examples out of those people, and do so very swiftly.    
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
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.