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 LockedUndocumented Ontario portion of OSAP

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Drazil View Drop Down
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Joined: 11/August/2007
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Drazil Quote  Post ReplyReply Direct Link To This Post Topic: Undocumented Ontario portion of OSAP
    Posted: 11/August/2007 at 10:18am
I finally paid off the CSL portion of my OSAP back in April and got my last statement from ScotiaBank showing a balance of $0.  Then I noticed in May they still withdrew $26 from my chequing account so I called up the loan center and asked them about it.  At least they confirmed that the CSL was paid in full... however the fellow said I had an outstanding balance on the Ontario portion of $49.50.  So I think to myself.. ok they take $26/mo, so that should be paid off in 2 months....
 
Four months later they were still taking the $26 each month so I called back again and asked what the balance was and to my surprise the fellow said it was $44.39. WTF?!? I said something has to be wrong here... but he thought it was perfectly normal to have a balance of $49.50.. payments totalling $108... and yet still have a balance of $44.39.  The people I talked to basically all said that was perfectly normal and didn't want to discuss it further.  I asked them to send me a report of my loan showing the initial balance and all my payments because I never received anything for the Ontario portion, only the CSL portion.  I had always assumed that the Ontario portion would be treated the same as the CSL portion interest wise, but to have only $1 going towards principal out of every $26 payment... especially when the balance is under $50 is a bit much.
 
I paid off the remaining balance plus current interest right away which they told me was $44.47.  The second CSR I talked to didn't want to discuss it either and said she would send me the information I requested.
 
Needless to say I'm feeling quite ripped off here and I'm thinking they probably stole quite a bit of money from me over the years.  Should I fight this... and is it even fightable? or maybe I should just count my blessings and hope I never hear from them again.
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