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 LockedPaying back NSLSC from abroad

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    Posted: 27/August/2018 at 3:33pm
Its possible you can do it with one if PayPal allows you to add both a Canadian account with a Canadian bank and a USA account with a USA bank.  Not sure if this is possible with PayPal.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 27/August/2018 at 2:17pm
You might be able to accomplish it with 1 paypal account.
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Mark OMeara
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Royal-NCO Quote  Post ReplyReply Direct Link To This Post Posted: 26/August/2018 at 2:05pm
I haven't tried this, but it occurred to me that you could use PayPal.  Maintain two separate PayPal accounts:  one based on your USA address and bank accounts/credit cards, another based on your CAD address and bank accounts.   Load money into you USA account with your USA pay, and send yourself a payment each month to your CAD PayPal account.  Withdraw the payment and deposit it into your CAD account.  Setup pre-auth payment on CAD account.    There are likely some fees involved, but it may be worth it for the convenience.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 26/August/2018 at 11:17am
I would suggest maintaining a Canadian account, transferring the money by wire to the Canadian account and then pay it from the CDN account.

TD has a US based account that would allow you to do transfer to a TD Canadian account for no fees.

 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote catto87 Quote  Post ReplyReply Direct Link To This Post Posted: 25/August/2018 at 9:40am
Hi! Newcomer here, please forgive me if I have chosen the wrong forum for this.

I am a Canadian citizen who attended school in the US, got married in 2016 and am now in the process of applying for US permanent residency. I also graduated in 2016 and have been repaying loans for about a year. My payments are quite high, $595 CAD a month originally (after negotiating lower payments), and will be up to $620 a month starting in November as I had to do a 6-month interest-only payment period recently. However, the amount isn't the problem; it's actually *getting* the money to NSLSC that is, as they refuse to do monthly debit withdrawals from a US based bank account. The only 2 options they presented me are to mail a check every month, or to set up automatic debit from a Canadian bank account. 

The first option, mailing a check, costs about $15, which is reasonable. However, it requires that I take time off work every month just to make the post hours, and involves transit problems since I don't have a car. It sometimes results in late payments because international post is ridiculous, and there is always the risk it gets lost in the mail. If I send by courier, the price moves up to $45+

The second option, auto debit from a Canadian account, is obviously easiest. I do have Canadian bank accounts (both Scotia and BMO), but I am having a hard time finding a way to send money from US to either Canadian account without paying enormous fees or involving a lot of running around. The easiest/cheapest I have found so far is $35 for a direct wire transfer from US account (Bank of America), but there may also be a fee to receive the money on the other end, not sure how much yet. In the past, I have sent transfers through Western Union to my mom and had her deposit it to my Canadian bank account, which costs $10, but it takes 4 business days and causes my mom to have to run around to make it work (a same day Western Union transfer costs $45+).

I am posting here to ask: has anyone else has found a simple and not too expensive way to transfer money from abroad monthly, or to pay the NSLSC directly using foreign banking? How are other Canadians who live abroad managing this? As it is something I will be doing for the next 14 or so years, finding a better option for sending the payments would make life a lot easier.

Thanks for any suggestions or experiences, and again sorry if this is the wrong forum!Smile
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