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 LockedNeed advice for wife's old loan

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    Posted: 15/June/2016 at 7:47am
Hello,

My wife has an old CSL dating back to 2004. It is currently in default with CRA, we are currently on a negotiated payment with them at $200 per month (all we can afford). We have come into some money with which we can pay off the interest and have the loan rehabilitated. My question is: If we rehabilitate the loan and have it go back to student loans, what kind of payments will they demand? The current principal balance is $29,000.00, interest is around $9000. I have checked, and with our(my) household income we won't be accepted for RAP. We really can't afford a payment greater than $200 per month, my wife is not working, and is home with our young daughter. Will rehabilitating the loan be a waste of time since we can't make full payments? or can we negotiate a lower payment with CSL? I'm guessing they are going to want $700-800 per month.

Thanks for your help,

Steve
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 15/June/2016 at 9:55am
Make sure it is not statute barred first. Otherwise, you could be in a pickle if you upset that. 
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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Post Options Post Options   Thanks (0) Thanks(0)   Quote ILTR Quote  Post ReplyReply Direct Link To This Post Posted: 15/June/2016 at 10:03am
She has been making semi-regular payments (whatever she could afford) for years. So I doubt it would be statute barred from my limited understanding of the term.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 17/June/2016 at 4:52am
There was a posting recently that stating that if your spouse would not contribute to the payment of the loan might mean eligibility for RAP.  Apparently the person posting stated they were told to put that in writing with their application.

I suggest you apply for RAP and ask them about this and see what they say.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 17/June/2016 at 5:16am
When was the last voluntary payment made? This does not include income tax money seizure. 
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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