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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    Posted: 03/February/2021 at 12:43am

Owner of the Canada Student Loan Service Provider Engaged In Tax Crime in the U.S.

 

Inside Gist On How Robert Frederick Smith Founded Vista Equity and How Much  Wealth He Has Accumulated

 

Owner of Finastra and Vista Equity Partners whose CEO is American billionaire Robert Smith, assumed control of the Canada Student Loan Service Provider inside the National Student Loan Service Center (NSLSC) in 2017.

 Vista EP purchased the prior service provider put up for sale, DH Limited Partnership, with little acknowledgment of the change by the Canadian Government of the negative impact this would have on Canadian students and taxpayers. With the lack of transparency surrounding the Student Loan contract, it begs the question; is the Canadian Government complicit?

 “Smith, whose code name was “Steelhead,” according to prosecutors, has admitted to hiding profits in offshore accounts and filing false tax returns for 10 years. He is cooperating with investigators and faces no charges. But his complicity in the alleged tax crimes has stunned the many who had seen a role model in the charismatic 57-year-old entrepreneur, often ranked as the wealthiest Black person in the United States.

These two sides of Smith — the impressive generosity on one and the admitted tax evasion on the other — may be hard to reconcile. But they are inextricable, according to documents reviewed by The Washington Post, including charity filings with tax authorities and Justice Department court filings.”

 Robert Smith, of Vista Equity Partners and Finastra, Tax Crimes

https://www.washingtonpost.com/business/2020/11/09/smith-brockman-tax-evasion/

Finastra Registration In Cayman Islands 

https://find-and-update.company-information.service.gov.uk/company/FC034398

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: 20/March/2021 at 8:10am
Canadian students and taxpayers should be furious about this. But, the media is silent even though they are aware. Keeping Canadians in the dark is how scandals flourish. 

 

Finastra – The Imposter In Canada’s National Student Loan Service Center

"How does a foreign company owned by a billionaire who has committed tax crimes against the U.S. government just walk in and take over a government program in Canada without any oversight, and with no notice to the Canadian public? Creating clouds of secrecy and confusion seem to be the objective of the Canadian government and the foreign tax havened Finastra with its grip on the Canada Student Loans Program ... "




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

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