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 LockedWHICH IS BETTER?

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Ladyn View Drop Down
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    Posted: 16/January/2017 at 6:18am
Which is better with regards to credit issues?

Leave student loan in default and pay CRA or rehabilitate it back to NSLSC and pay it there? The payments would be larger with NSLSC I'm sure but I'm wondering what would help your credit report in the long run.
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SolveStudentDebt View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 19/January/2017 at 7:48am
The best is this: 

1. Live within your means.
2. Pay student loans if you are able to, without it causing (forcing) you to live outside of your means. 

If the loan is in collection it is for a reason and we do not know what that reason is. Why is it in collection in the first place? This credit repair thing is like letting the cart get before the horse. 

If you 

1. Have completed studies 
2. Are gainfully employed
3. Are benefitting from the education
4. Are not in any economic hardship

then rehabilitate it if you can do so without that harming you in any way.  THen, revitalizing your personal credit portfolio is certainly a good thing to do once problems are remedied.  

If you  

1. Are gainfully employed 
2. Are not benefitting from the education 
3. Had to withdraw from studies due to medical or other serious reasons
4. Are unable to pay the student loan in a reasonable period of time, or a life time

then rehabilitation is not going to do very much good for you, and thinking about getting the debt treated and potentially reduced or set aside due hardship with extenuating circumstances should be the case. Repairing or obtaining credit accounts at this stage is not responsible.  




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 SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 19/January/2017 at 7:50am
If you  

1. Are NOT gainfully employed 
2. Are not benefitting from the education 
3. Had to withdraw from studies due to medical or other serious reasons
4. Are unable to pay the student loan in a reasonable period of time, or a life time

then rehabilitation is not going to do very much good for you, and thinking about getting the debt treated and potentially reduced or set aside due hardship with extenuating circumstances should be the case. Repairing or obtaining credit accounts at this stage is not responsible.  
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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