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 LockedTrying to figure out my CIBC situation

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Hellojb View Drop Down
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    Posted: 11/November/2018 at 2:45pm
I had both Alberta and CIBC backed federal student loan. These loans are from 1996 and while I paid off the Alberta loan, I have yet to start paying CIBC.

I wish to return to school but of course would like to get Osap in my new home province of Ontario. When I apply it immediately rejects my application because I defaulted on a CIBC loan.

I call CIBC student loan Centre and they tell me the debt is no longer with the but a collection agency. My question is this: if my debt is no longer with CIBC then conceivable the loan is out of default? Could I call Osap and pled my case?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 19/November/2018 at 12:52pm
If it is with a collection agency then it is in default. OSAP is not CIBC and cannot speak for CIBC. 

If you wish to talk out more student loans while having a previous unpaid student loan in default and out for collection you will most likely be defined for more student funding. You would either have to pay it out somehow, or ask them to overlook it. I have yet to see the latter. 
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 19/November/2018 at 12:54pm
Autocrack typos - sorry. Here goes again.... 

If you wish to take out more student loans while having a previous unpaid student loan in default and out for collection you will most likely be declined for more student funding. You would either have to pay it out somehow, or ask them to overlook it. I have yet to see the latter. 
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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