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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linda_windsor View Drop Down
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Joined: 27/April/2004
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Post Options Post Options   Thanks (0) Thanks(0)   Quote linda_windsor Quote  Post ReplyReply Direct Link To This Post Topic: interes relief and rules...? pls help
    Posted: 27/April/2004 at 9:09am

Hello,

I did finish university in Computer Science 8 month ago. I did not find any type of job in my field or other field for that matter. I finally got a job in September as a part-time inventory clerk at a sport store.

My husband did finish the same university ..2 years ago, and was not able to find a decent job. He is currently self-employed and making not more than 1800-1900 gorss income monthly.

I did got pregnant in january and the manager "fired" me. he said that the company cannot pay for an inventory clerk position and that i am given two weeks notice. after 2 weeks i was called to sign the papers, which reflected that I was the one quitting since i do not want working as a sale..It was a total bs..but I was so shocked that I signed not knowing what to do.

Of curse meanwhile, OSAP and CIBC kept calling. After 3 agonizing month , the government approved my interes relief application but CIBC keeps not getting the consolidation agreement form. They keep calling and I keep sending the paper. They said that they cannot approve me until i sign the agreement and that i have until at the end of the month.

Meanwhile, my husband keeps being put off by National Student loan.They keep losing papers, or needing more and more proof...The problem is that CIBC keeps calling every day or twice a day..and we keep telling them that the application is still pending.

Today I recieved a letter from CIBC for my husband which states that he should pay a lump sum of aprox.3500 and if not some legal enforcement will take place.

my question is(finally) ...On the government`s chart it is stated that at a certain gross income per family you are approved for interes relief..than why all this monthes of harassment from CiBC and government ?Can i address myself to a lawyer? If on the paper it is stated clearly an income and my family does not make the income stated than how hard it is with a lawyer to make them approve my interes relief.

 

thank you

linda

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: 28/April/2004 at 6:51pm

Wow! You really are getting the runaround here.

National Student Loan Centre will not approve your Interest Relief until they have a signed consolidation form from you. They should have sent out the form with your Interest Relief Application.

I know they pre-approve Interest Relief over the phone before mailing out the application. This just means you have been screened and meet all the criteria. They can put your loan payments on hold for a short time to allow time for you to get the forms, complete them and mail them back.

You should contact them and see if they have received your Interest Relief Application. If they have it, and are only waiting for the signed consolidation, and if you have access to a fax machine, ask them to fax you another consolidation form. Get a fax number and person's name to fax it back to, and send the original to them through the mail. I think they need an original signature for their files, but they should be able to process the application with the faxed copy.

Hope this helps.

amynic

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