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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frustrated-guy View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote frustrated-guy Quote  Post ReplyReply Direct Link To This Post Topic: statements needed for stuent loans
    Posted: 02/October/2006 at 8:49am

Every student loan borrower would benefit from receiving regular statements.  We need statements to have the information to make decisions.

Statements should come no matter the status of the loan if at school, if in repayment or if in default. 

 

 

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Staretz View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Staretz Quote  Post ReplyReply Direct Link To This Post Posted: 18/October/2006 at 8:19am
I get regular statements all the time. or at least now that i have emerged from bankruptcy protection. 
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Teri Smith View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Teri Smith Quote  Post ReplyReply Direct Link To This Post Posted: 23/February/2007 at 4:22pm
I have not received a statement in 8 years. I have no idea how much interest I owe, how long they will continue to take my income tax. I find it very frustrating. I could reduce my tax payments legit but have not because I would actually enjoy getting rid of this debt. It has caused me and my family tremendous credit related hardship. No one will even talk to me unless I am willing to fight with them. I'm getting a migraine just talking about it.
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Buglady View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Buglady Quote  Post ReplyReply Direct Link To This Post Posted: 23/March/2007 at 6:02am
I've never received any statements despite asking repeatedly. And when changes occur, the first I usually hear of it is six months later from a  collection agency that has old information. Argh!
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SolveStudentDebt View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 23/March/2007 at 7:17am
WHo do you owe?
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
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Buglady View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Buglady Quote  Post ReplyReply Direct Link To This Post Posted: 23/March/2007 at 10:13am
For me, it's CIBC, the National Student Loan Service Centre, and the BC Government (the student loan dept just got folded into something else, I don't know what). And apparently part of it got spun off to the CRA.

I'm kind of envious of the person who says she gets statements!


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Post Options Post Options   Thanks (0) Thanks(0)   Quote cdritchie Quote  Post ReplyReply Direct Link To This Post Posted: 19/May/2007 at 2:50am
Teri,
I can tell you from experience i am in the same boat. I'm in Alberta and in 2006 I would have gotten back $6000.00 as an income tax refund. Yes they took it all. They'll take your income tax until your loan is completely paid off. Careful though cause they can also garnish your wages.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Chantal Quote  Post ReplyReply Direct Link To This Post Posted: 20/May/2007 at 10:49pm

For the last few years, I have been unable to get detailed statements from RBC eventhough I have requested them repeatedly.   I went into the bank two weeks ago because my son needed a bank card.  While I was there, I decided to ask if it was possible to get a detailed statement.  I spoke with an RBC rep at the bank on the Tuesday, I had the detailed statment in the mail on the Friday.  Needless to say, I was in shock.  Next time I want a statement, I will definately go into the bank.  Forget calling the RBC Student Loan Centre.  Perhaps for anyone else out there having trouble getting statments, try going right into the bank and talk to a rep. 

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SolveStudentDebt View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 22/May/2007 at 2:43pm
Remember, when you call a number for the RBC student loan center, you are really not getting through to the RBC. Youa re actually reaching Resolve Corporation, which is the service provider to the RBC in the same fashion as Edulinx is (only until 2008).

There are problems at that level as many have posted.

Johnny
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
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SolveStudentDebt View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 22/May/2007 at 2:44pm
In the same fashion as Edulinx is (until 2008) to the government of Canada for guaranteed Canada Student Loans (Public Intitutions only).

Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
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jhones.hamilton View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote jhones.hamilton Quote  Post ReplyReply Direct Link To This Post Posted: 28/May/2009 at 8:52pm
These statements are really useful for record purpose too.
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