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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    Posted: 01/March/2007 at 3:50pm
I would love some help with this problem. I had a student loan with RBC in 1999 and it was paid off in 2002. Now, two days ago, I get a letter from a collection agency saying that my loan is in default. It doesn't make sense to me because the loan was paid for. Also, I did my credit report about 5 months ago and it states that my student loan has been closed and I have no outstanding debt. Now this letter comes and states that I have an outstanding loan that is nothing close to my orginal loan which I paid off. 
 
I can't get any help from RBC student loan. I think its an admin mistake and no one wants to help me.
 
Does anyone have any tips on deal with this new magical loan.
Thanks
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 03/March/2007 at 4:06am
If it is a Ryal Bank student loan and you do not owe it, simply issue a requst for information to RBC. Or, call them and have them explain. Tell them that you paid your RBC student loan(s) in 2002, and you want this corrected.

Who is the agency communicating with you? Are you sure this is not a fedeal guaranteed portion?

Need more input from you to give you any solid ideas as to how to go about resolving this.

Johnny
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 Pissed off Quote  Post ReplyReply Direct Link To This Post Posted: 30/December/2009 at 5:26am
Hello to both,
 
Johny,  this is my story with the Bank of Nova Scotia.
 
I had no proof before this year (2009) and, at this point, only the feds have documents too rare to my taste but enough to prove my loans were paid in full.
 
I have been so stressed with this that, for a while, I tought I did have some unpaid loans left.  Not so.  I studied from May 1987 to April 1994.  I started paying my loans in 1988 from monthly deductions from my bank account and lump sums with the province's award directly deposited against my CSL account and a car accident settlement.
 
The car accident had to be clarify through Discovery on September 30, 2009 and, luckily, the Insurance Coorporation of BC (ICBC) still had some details on thier computer from an accident back in 1987, paid in 1989 or 1990 for $10,500.  Therefore, my loans were paid in full before the end of April 1994.
 
If you recall from my (Pissed Off) postings, I filed a lawsuit against several Fed. Ministries for violation of several laws and, because of the defense lawyer countersuit and the documens given me on July 27, 2009, and more, like ICBC on October 2009 and proof of my last name!, I attempted to amend my initial cause.   But, so long after the end of my studies, I am lucky to have these rare documents because no one has documents on my loans anymore.  Even in 2000, the Loan department had nothing on me.
 
Needless to say, the bank did claim a payment for defaulted CSL and only a single page from their ledger contains some, enough information to give a foggy picture, well clear for me but not to the defendants who cannot explain why that page would show a "new loan", same amount, as per November 1994.
 
So, I am not suprised.  However, I am happy I am not the only person in this situation and that you, my dear, can get the documents and any information you need to clarify your situation.
 
Good luck to you.
 
 
Has a class action been started? Where? How can I join?
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