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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santamonica View Drop Down
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Joined: 26/October/2016
Location: ontario
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Post Options Post Options   Thanks (0) Thanks(0)   Quote santamonica Quote  Post ReplyReply Direct Link To This Post Topic: NEED HELP FAST
    Posted: 26/October/2016 at 10:06am
Hello Everyone,
 
So the story is this:
 
I was paying my student loans ages ago (well over a decade) and the smallest of loans ended up going to a collection agency because of missed payments.
The payments were missed because the government was applying my payments for this loan to a different loan.
I called the government to resolve this and they said its too late I must speak with collections.
I called the collection agency and they were a bunch of idiots acting like the typical scumbags collectors.
I ignored this loan for ages after that. It got passed around to a few different agencies over the years.
Ever since the government has been using my returns and tax refunds to pay the loans.
Most recently I had approx. 2k of my return applied to this loan.
The amount I currently owe is approx. 2k (grossly overcharged interest amount)
I finally called these guys and they told me the best they can do is give me a break and I'd have to pay $1800 approx.
They sent me a letter stating this amount with no actual payment slip.
I called back and tried to bargain further but they wouldn't budge.  I told them that I'm trying to resolve this old debt.
 
They said the following: 
 
The discount they gave me is the max allowable by the government unless I want to fill out paperwork and ask the government to reduce it.
They also said since I didn't pay the 1800 by the date specified in the letter that they hit my credit but might be able to reverse it if I pay immediately as it just happened.
 
Is any of this true?
Would this have been off my credit and they just hit it again with a negative report?
If so, are they able to reverse this as they stated?
Should I pay this amount even though it is unfair that I'd be paying basically 3 times what the original loan was?
What would I need in writing from them if it is best for me to settle at this amount?
They kept saying that the fact that if I pay the stated loan amount in full and my bank slips would be sufficient.
Please let me know asap as I don't know what to do. thanks!!
 
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