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 - 3rd party payment on student loan
  FAQ FAQ  Forum Search   Register Register  Login Login


Forum Locked3rd party payment on student loan

 Post Reply Post Reply
Author
steven123 View Drop Down
Newbie
Newbie


Joined: 30/September/2015
Location: Saskatchewan
Points: 3
Post Options Post Options   Thanks (0) Thanks(0)   Quote steven123 Quote  Post ReplyReply Direct Link To This Post Topic: 3rd party payment on student loan
    Posted: 30/September/2015 at 1:45pm

Hi there,  

I took out an emergency student loan from a university in the amount of $325.00 in 1996.  At that time, I sent money to my mom to pay the debt and she said that she did.  Fast forward nearly 20 years, and I am trying to get a copy of my transcripts but the university has a hold on them as they say the debt wasn't paid.  My mother wants to send them the $325.00 but my concern is the massive amount of interest that may trigger if she does send the payment.  At 18% a year, that 325.00 would have compounded to nearly 10,000.  My question is this, if she does make a payment (the university says they don't want the interest, just the 325.00),  will that acknowledge the old debt and possibly allow the university to go after me for the entire 10,000?  Does it matter if the payment doesn't come from me?  Or if a payment is made at all, even from a third party, does that mean I've acknowledged the debt?  I'd like to take them at their word that they just want the $325.00 but I want to make sure as I don't have the 10,000.  

Also, if the payment does trigger the interest and I end up owing the 10,000, is an emergency student loan from the university the same as a canada or provincial student loan, meaning they can put a lien on my tax return?

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: 02/October/2015 at 4:24pm
Request a statement of account from the the University.  Get them to state the exact amount owed....  When you get  then pay it... and keep your receipt forever!

The other thing you can claim is that the loan is statute barred and not legally collectible.... but they would probably still withhold your transcripts....
Administrator
Mark OMeara
Author of Let Go and Heal: Recovery from Emotional Pain
https://LaughSingWrite.com - http://bit.ly/heal2024
Back to Top
steven123 View Drop Down
Newbie
Newbie


Joined: 30/September/2015
Location: Saskatchewan
Points: 3
Post Options Post Options   Thanks (0) Thanks(0)   Quote steven123 Quote  Post ReplyReply Direct Link To This Post Posted: 02/October/2015 at 8:06pm
Thanks a lot for your response!  


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.