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This is What Needs to be Changed!

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albertagirl View Drop Down
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Joined: 20/June/2007
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Post Options Post Options   Thanks (0) Thanks(0)   Quote albertagirl Quote  Post ReplyReply Direct Link To This Post Posted: 25/June/2007 at 5:34pm
Thanks for the link Hippy!!!
There is hope! Keep the faith, believe in yourself, and most importantly, when you are threatened, remind yourself that YOU DO HAVE RIGHTS, and that NO ONE can take those away. NEVER AGAIN.
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findpeace&calm View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote findpeace&calm Quote  Post ReplyReply Direct Link To This Post Posted: 02/October/2007 at 3:48am
I am sorry, but I cant believe anyone would suggest RAISING the cost of tuition?! That is insane.  Ludicrous!
 
I myself, was a straight A student in University, actually the only good thing I got out of university were reference letters from professors with glowing reviews on my intelligence (do not mean to brag, but I have it in writing) they said I was an excellent candidate for graduate school.  But of course that never panned out.  I have 3 years of university with a debt load of $30,000.  I was forced to leave school because of bankruptcy due to consumer debt (house, etc).
 
I worked full-time also, raised 4 kids and still got straight A's with a full course load.  But where has my intelligence got me - no where, now I am stuck with this debt and no completed education because I can absolutely not afford to finish it, I cant even afford to pay them back what I do owe!
 
University used to be affordable back in the early 90s when I first started.. what happened? 
 
Education should be free - to give everyone a fair chance.  The system is set up for the rich folk, the lower class do not have a fighting chance - believe me I have tried to get out of my historical poverty class and actually in University this was my main focus, helping change poverty, but alas....I pretty much give up on trying to save the world - no more fight left in me. 
 
 
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Bech View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Bech Quote  Post ReplyReply Direct Link To This Post Posted: 21/November/2007 at 10:22pm

Once you are in a position to make payments you should be able to go back into good standing and revive your credit rating. But the way I understand it once you slip below the line into default your f**ked until you pay the amount owed in full. And I suspect this site of being in bed with Johny.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 21/November/2007 at 10:41pm
Yep, this site sleeps with him every night it can. But he snores and farts so I have trouble sleeping so I go back home! :) And my girlfriend is far more attractive so I'm happy when I get home... Sorry, no offence meant Johnny! :)

But to address your point, yes it is unfair that the actual laws regarding rehabilitation are not followed. Once in default, you cant get your loan recalled even though its says paying the outstanding interest and making 6 payments restores the loan.

But the collection agency doesnt want to lose its commission so it doesnt happen. And the NSLSC doesnt want to take the loan back cause they'd incur costs to maintain your file.

Also, the credit rating is screwed for 6 years after you pay the loan. Its completely unfair and I totally agree with you.

I sense you are not happy with my recommending Johnny. Johnny is a completely separate business entity. I endorse Johnny because he is the only person I know of who can work the issues for people. My recommended advocates forum is open to postings, but no one else has ever been recommended there. On the other hand, I have received messages about trustees who have provided incorrect info that led people down the wrong path.

It would be improper for me to not let people know about him. And keep in mind that I run this site as a volunteer. I dont make any money from this site. Membership is totally free. I had an offer to sell it once but refused.

Your point about these rules being unfair is totally justified. Please check out the work at the Coalition for student loan fairness at http://www.studentloanfairness.ca    

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Mark O'Meara

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Bech View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Bech Quote  Post ReplyReply Direct Link To This Post Posted: 21/November/2007 at 10:43pm
thanks marc
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 21/November/2007 at 10:55pm

Thanks for the idea.. I've sent this email off to HRSDC - I'll let you know if we get anything back.


The student loan regulations state that if a borrower pays off all outstanding interest, and makes six payments, the loan is rehabilitated. Could you please inform me of the process involved in getting a rehabilitated loan transferred from a collection agency back into non-default status with the NSLSC, and having the information on their credit bureau changed to reflect the fact that the loan is rehabilitated?

It seems that these rehabilitated loans are still being counted as defaults, even though they have been rehabilitated under the legislation. I would appreciate your clarification on this matter.

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Mark O'Meara

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foreverindebt View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote foreverindebt Quote  Post ReplyReply Direct Link To This Post Posted: 14/April/2009 at 8:45pm
Originally posted by administrator administrator wrote:


Thanks for the idea.. I've sent this email off to HRSDC - I'll let you know if we get anything back.


The student loan regulations state that if a borrower pays off all outstanding interest, and makes six payments, the loan is rehabilitated. Could you please inform me of the process involved in getting a rehabilitated loan transferred from a collection agency back into non-default status with the NSLSC, and having the information on their credit bureau changed to reflect the fact that the loan is rehabilitated?

It seems that these rehabilitated loans are still being counted as defaults, even though they have been rehabilitated under the legislation. I would appreciate your clarification on this matter.



I take it you never got a response as none is posted here ...
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wrennard View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote wrennard Quote  Post ReplyReply Direct Link To This Post Posted: 03/February/2010 at 1:40pm
Tax Credits on what you pay yearly to reduce school related debt. Both Government assistance debt, and lines of credits/loans from banks for education purposes. This would ease the stress of repaying student loans and help maintain a decent quality of life while repaying.
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