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 LockedWhat does this mean on my Credit Report?!

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felicia_dee View Drop Down
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Joined: 10/June/2019
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    Posted: 10/June/2019 at 10:26pm
I had a SL started in 2008 and was terrible about making payments. We moved around a bunch and they lost track of me and I was okay with that since I couldn't really afford to pay it - with any kind of consistency anyway. Eventually I stopped getting letters, then stopped getting calls, then stopped getting emails. That was almost 5 years ago now.

Fast forward to today I'm trying to get my crap together and in reading my credit report, there is a line that I have no idea what it means... 

CDA Student Loans PR
status: paid as agreed and up to date
comments: transferred or sold, account paid
balance: 0
past due: 0

Obviously this is in regards to the loan I had in 2008. The last activity on it was in 2015. What does it mean that it was transferred/paid and all the balances are 0? I know I didn't pay it off. I have not had any contact from a collection agency, nor is it showing on my report that this loan has been transferred to one and they are trying to reach me. Has it been forgiven? Is it in limbo waiting for me to file taxes and the government will just garnish that? 

I'm really confused here but don't necessarily want to reach out to them and mess with it if it is forgiven and will just disappear off my report in the next two years - but if that's not the case then I would want to get this rehabilitated and work towards paying it off sooner than later...
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SolveStudentDebt View Drop Down
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Joined: 05/November/2003
Location: Canada
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 17/June/2019 at 1:27pm
That report simply means the loan became due and payable and was transferred out. It is a federal student loan and it was transferred to the recovery unit, that being Canada Revenue Agency's non-tax collection center. 

You wont ever hear from a private collection agency on this. The federal government stopped using them in 2009.

If you need help with a strategy and approach that will benefit you, let me know. It's what we do. 
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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