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 LockedHigh loan payments on repayment assistance

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Amysabrina View Drop Down
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Joined: 11/October/2016
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    Posted: 11/October/2016 at 7:06pm
I have been out of university since April 2007, I began with over 45,000 in student loan debt and have been slowly paying it down over the last 9.5 years, most of the time while on repayment assistance. The current balance remaining is approximately 26,000. I somehow managed to get a really long loan term originally, I'm not sure what it started as because I was not even close to consideri the consequences o taking out student loans or how long it woul take to pay them back. I'm not sure if a longer term was commonplace in 2004 or not, but NSLSC recently discovered it was still over their max loan term and they changed my loan term to the max allowable which they said was 14.5 years. That was just over 6 months ago. I was not notified of this change, but when I applied for repayment assistance last it ended up being higher than my previous regular monthly payment was. I went from 279.00 with no assistance to 283.00 after assistance. This is how i found out about their reconsolidating my loan. So now my regular monthly payment is 425. My repayment assistance is going to be around the same amount with the remaining 210 being covered by rap. Why is the total monthly payment amount higher than my regular amount? When I'm supposed to be getting help? Is this because they are trying to get my loan complete in the 15 year repayment assistance time frame (6 years remaining)? Also my loan time period has jumped from the 14.5 years they told me it was at 6 months ago to only 11.8 years? Why have almost 3 years come off my loan time in 6 months... So confused. We really can't afford these large payments but it appears no matter what I do I'm paying over 400$ a month?
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