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 LockedBill C-55 Rammed through House...

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    Posted: 22/November/2005 at 10:49pm
BILL C-55 RAMMED THROUGH HOUSE = EXPERTS IGNORED AGAIN!

Bill C-55 was adopted by the House Monday afternoon, November 21, 2005, under a special House Order. The Bill will move to the Senate on Tuesday, November 22, 2005. The intention is to have the Senate complete its examination by the end of the week to enable the Bill to receive Royal Assent before the non confidence vote in the House, expected on Monday, November 28, 2005.

Ramming the bill through like this means that numerous representations made for amendments to the bill are being ignored. One of the submissions that is being ignored is the one by the Canadian Association of Insolvency and Restructuring Professionals (CAIRP). The CAIRP would have put forth representations that:

Student Loans are still to harsh. The bill, which reduces from 10 years to 7 years the time a student has to wait until his or her debt can be erased, is still too draconian. The CAIRP would have urged that cases of hardship should be dealt with at the bankrupt's discharge hearing, with the court being given express authority under the BIA to grant full or partial relief.

“Under the BIA , student loans are among the few debts that are not erased by bankruptcy,” said Alan Spergel, Vice Chair of CAIRP. “The only others are court-ordered fines for personal injury and wrongful death as well as spousal support orders. It is completely unfair to place former students on the same footing as O.J. Simpson and deadbeat dads.”

http://www.bankruptcycanada.com/PropChngsBIA.htm
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