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 LockedCan student loan take disability settlement?

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JasonRichards View Drop Down
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    Posted: 28/November/2016 at 8:07am
Hi My girlfriends cousin has an old student loan that I believe is in default. Her cousin got hurt and she may get a disability settlement. At this time her cousin is disabled and needs the money to support herself. She is wondering if student loan would be allowed to just take money from her account if she gets a settlement and deposits it? Thanks
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 03/December/2016 at 3:17pm
make sure she does not deposit it into an account at the same bank that her student loans were deposited in.

Go to a completely different bank!

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Mark OMeara
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 04/December/2016 at 5:05pm
If it is a risk-shared student loan with RBC Scotiabank, and money is deposited into a bank account with the bank that the loan originated from, then they can do what is called a set-off and take money. However, if it is a govenrment direct or guaranteed loan from the first and seconf generation program, and there is no legal requirement to pay (execution order on bank account or otherwise) then it wouldn't be confiscated. 

If there is a judgement against a borrower anchored in, then that may require satisfaction depending ont he legal circumstances involved.  Or, if the judgment creditor is aware that there is a sum of money coming to him or her, they may act on it. 

Hope this helps!  
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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