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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Forum LockedUS Biz (Vista) Buys S/L Service Provider (DH Ltd)

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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Topic: US Biz (Vista) Buys S/L Service Provider (DH Ltd)
    Posted: 13/June/2017 at 6:16am
It is interesting that there is no mention in the description of DH included with the article that DH is the administrator of the entire scope of the Canadian federal student loans program.  By this announcement D+H will become wholly owned by Vista, a US company. Will Vista be the new student loan service provider? Or will the administration of the Canadian student loans service contract remain under the name of D+H, with the actual change to US ownership being known only to those paying close attention to the transactions of “big business”?

 

The links and material below provide greater context.

 

D+H Announces Voting Results from Special Meetings of Shareholders and Debentureholders

 

TORONTO, May 16, 2017 /CNW/ - DH Corporation (TSX: DH) ("D+H" or the "Company"), a leading provider of technology solutions to financial institutions globally, announced today the positive outcome of the shareholder ("Shareholders") vote at today's special meeting (the "Meeting") of the Shareholders regarding the previously announced arrangement (the "Arrangement") pursuant to which an affiliate of Vista Equity Partners (the "Purchaser") will acquire all of the outstanding common shares of D+H (the "Shares") for$25.50 per Share in cash by way of a plan of arrangement.

 

 

 

About D+H

D+H (TSX: DH) is a leading financial technology provider that the world's financial institutions rely on every day to help them grow and succeed. Our global payments, lending and financial solutions are trusted by nearly 8,000 banks, specialty lenders, community banks, credit unions, governments and corporations. Headquartered in Toronto, Canada, D+H has more than 5,500 employees worldwide who are passionate about partnering with clients to create forward-thinking solutions that fit their needs. With annual revenues in excess of $1.6 billion CAD, D+H is recognized as one of the world's top FinTech companies on IDC Financial Insights FinTech Rankings and American Banker's FinTech Forward rankings. For more information, visit dh.com.

http://www.newswire.ca/news-releases/dh-announces-voting-results-from-special-meetings-of-shareholders-and-debentureholders-622604904.html

 

It is interesting that there is no mention of DH's role as the Federal  student loan provider in the above description.  By this announcement a Vista affiliate, the " 'Purchaser' will acquire all of the outstanding common shares of D+H." Will The Purchaser be the new student loan provider? Maybe this arrangement will become less clandestine soon and they'll think up a name for the new company. 

 

D+H Wins Multi-Year Canada Student Loans Program Contract

TORONTO, April 5, 2016 /CNW/ - DH Corporation (TSX: DH) ("D+H"), a leading provider of technology solutions to financial institutions globally, today announced that one of its subsidiaries has been selected by the Government of Canada to provide financial solutions and related services for the Canada Student Loans Program, and five integrated provincial programs. D+H expects that it will continue as the incumbent provider of these services under the terms of its existing contract, which D+H has been advised will be extended until the implementation of its new solution, which is expected to be operational by April 2018. The new contract will have an initial term of eight years with up to a further seven years at the Government's option. 

http://www.dh.com/news-events/press-releases/dh-wins-multi-year-canada-student-loans-program-contract

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

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