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.


  New Posts New Posts RSS Feed - Overseas with a family and substantial loans
  FAQ FAQ  Forum Search   Register Register  Login Login


Forum LockedOverseas with a family and substantial loans

 Post Reply Post Reply
Author
edwards View Drop Down
Newbie
Newbie


Joined: 23/July/2018
Points: 6
Post Options Post Options   Thanks (0) Thanks(0)   Quote edwards Quote  Post ReplyReply Direct Link To This Post Topic: Overseas with a family and substantial loans
    Posted: 20/November/2018 at 3:29pm
Originally posted by Leeroy Jenkins Leeroy Jenkins wrote:

We currently don't have any plans to move back to Canada.

Just let them know that you do not have financial resources for the moment.
My 2 cents is that, just leave it unpaid it's a bad idea. Even if you do not plan to move back to Canada, it may hurt you in the future in your new country.
Back to Top
Sponsored Links


Back to Top
Leeroy Jenkins View Drop Down
Newbie
Newbie
Avatar

Joined: 26/October/2018
Points: 2
Post Options Post Options   Thanks (0) Thanks(0)   Quote Leeroy Jenkins Quote  Post ReplyReply Direct Link To This Post Posted: 26/October/2018 at 2:47pm
I studied overseas with my wife and will be graduating soon with a large debt. We have had a child and I will be looking for internships in my current city. While these will pay they will barely cover living costs while my wife completes her degree.

I have a Canada Student Loan that is around 5k and a Canada-British Columbia Integrated Student Loan well over 40k. While I could manage the first, the second is rather unmanageable while I'm supporting two dependents. I want to come up with a plan before I graduate. I know that I can reduce monthly payments but I don't know if I can take advantage of the repayment assistance program. We currently don't have any plans to move back to Canada. While I hope to secure a good job in the future, I don't expect to be in a good financial situation for several years.

What options should I be looking into at this time?
Back to Top
 Post Reply Post Reply

Forum Jump Forum Permissions View Drop Down

Forum Software by Web Wiz Forums® version 12.07
Copyright ©2001-2024 Web Wiz Ltd.