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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I_Like_Turtles View Drop Down
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    Posted: 24/July/2014 at 7:26pm
Hello everyone, I think I'll get right to the matter, both my federal and provincial loans have gone to collections. For personal reasons I was unable to pay anything for the past year. I had moved, forced to move, didn't contact CIBC student loan centre. A few months back I started getting calls from NCO financial or what not and another from ARC. The provincial portion is with ARC and the federal is withe NCO. I haven't spoken with NCO as of yet but somehow ARC managed to get a hold of my cell number and I answered a call the other day and that is where it begins.

I owe $3600+ on this loan and they offered to settle it at just a tad under $3200. Told me to go to easy financial and get a loan to pay this off. Well I am on EI right now and will be back to work at the end of August. Tried getting a loan but they won't bother because I am on EI. So I told the rep from ARC that I was turned down. So a payment plan of $200 a month for 18 months is what they are saying I have to do. That I have to submit my banking info so they can set up direct withdrawal. To be honest, this loan(s) hasn't been a priority for me due to financial and health/employment reasons. Yes I realize I should have given them my new location etc but stuff happened. I want to pay this thing off. But $200 a month I can afford on this one, but I don't know how much the federal portion is going to cost me. I don't make a lot of money in a year and I am already just getting by.

They hassle me and put words in my mouth telling me that I am saying that I refuse to pay etc, when all I said was that I'd prefer not to have it come out automatically each month and that if they give me an account number, I can set it up so I can send payments online. I am told that I cannot dictate how the terms will go and that I have to accept their terms. I am so frustrated because I know the federal portion is going to cost me even more than $200 a month.

Anyhow, i asked them to send me information on paper in the mail and I am to fax them my banking stuff, proof of employment etc. Again, I do want to pay it back because I did borrow it. I've been paying this loan off since 2000 and it hasn't made much of a dent because I had periods of interest relief. So if I cannot dictate the terms of what I can afford to pay, will they refuse a payment of less than $200? I haven't agreed to pay them yet as I stated I want stuff in writing.

So to do all this paper work, It is almost as if I am applying for a loan. I don't have any current pay stubs because I am on EI since May and my annual income is below the poverty line.

Just seeking any advice or help, it would be appreciated.
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