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 LockedImmersed in the wave of debt

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smlaspar View Drop Down
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Joined: 10/March/2004
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    Posted: 10/March/2004 at 7:15am

Hey there

Just been reading some of situations that people find themselves in with this student debt, I find myself in a similar pickle and now have creditors phoning me at work I have $60, 000 plus in that has gone into default at different banks like the royal, the National student loans centre and Scotia bank and have six children plus one on the way!! Reading about all the problems one encounters with student debt is scary, my way of dealing with everything has been avoidance.  I know not the most mature way to handle life.  I applied for interest relief and for some reason the national student loan centre stated they did not receive my application, that caused a domino effect with all the rest of my loans going into default and now I am trying to see my way through this mess, without gving up, but I don't even know whatmy first step is.  I can't seem to find any info on where to start in Saskatchewan where I am from.

Advice anyone please, Helpful advise anyone PUhlease!!

 

dismally_depressed_in_debt
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: 18/March/2004 at 4:51pm

This is a crappy situation!

Because you have loans through National Student Loan Centre, the banks cannot help you to get your loans on Interest Relief.

You need to find out what point you would need to pay the interest up to, in order to get your loans current enough to apply for interest relief.

I guess the only thing you can do is try to work with the collectors to achieve this, or remain in default on your loans.

amynic

 

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diana View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote diana Quote  Post ReplyReply Direct Link To This Post Posted: 19/March/2004 at 12:41pm
That is the problem, the collection agencies don't want to work with you to achieve anything other than to pay off your debt immediately. This is impossible given the fact that loans split and I have full time and part time loans. There was a time before my loans went back to HRDC that I had five different collection agencies calling me. Now I just have three.
diana
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