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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Jaygurl17 View Drop Down
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    Posted: 04/December/2013 at 10:39pm
I got out of school 2006 and was unable to make payments to my student loans in 2008. I have a bc student loan of $7600 and a national student loan of around $11000. I still get monthly statements for the bc student loan but not for national studnt loan. I recently bought a car and got a loan for $12,000 and in the process was given my score and told the bc student loan is what's effecting my credit the most. I have about another $10,000 from RBC visa and account fraud ( from a boyfriend). It was an incredibly stupid time of mine. It's now been so many years people are telling me to wait out the 7 years. I have not done my taxes for three years but am about to in the next week. I have been putting $100 a month extra in taxes in hopes that will help pay off some debt if it's garnished. My fear is if I file I will get flagged and my waiges will start getting garnished or my car taken. I should also have three years of gst that would go towards paying my debt.   I'm estimating around $7000 in tax returns alone. How will I know where that money is being paid to when it's garnished? How do I know it's safe for me to file? I'm not one to avoid paying taxes as I know it's against the law I'm just over whelmed. I'm trying so hard to move on in the best way from bad decisions in my life and need to know what my options are. If the national student loan isn't showing on my credit do I still owe it? If it's just my bc student loan it should mostly be paid in full with my filing wouldn't it?   The phone calls from creditors is getting out of hand and quite frankly abusive. I'm tired and don't know what to do as they have contacted my work asking for employment confirmation ect and my work has chosen not to respond and allow me to deal with the situation. Is it legal for them to be asking for my information? I'm more then wiling to proceed with payments if that will get this burden off my back faster I'm just scared if I file the taxes the garnishing will effect my payments to my car loan and put me in further debt. Please let me know your advice
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Jaygurl17 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Jaygurl17 Quote  Post ReplyReply Direct Link To This Post Posted: 28/June/2015 at 8:49am
Is there anyone that can give advice. I'm finishing my sixth year this year.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 29/June/2015 at 11:12am
Sorry no one else has replied.   Here are some thoughts.   First of all, you need someone in your corner helping you to figure all this out.   I suggest seeing a debt counsellor...Make sure you choose a proper one i.e a no fee service that is not a 'debt consolidation' business as these will mislead you. There should be no fees involved at all. 

Instead of worrying about the tax returns, try to see the bigger picture.  What are the chances that you will be able to pay off all this debt?

With all this debt, and the fact that you've been out of school for 7 years, you might consider seeing a bankruptcy trustee.   Declaring bankruptcy would clear the debts, but it would ruin your credit for seven years.  I once went to a conference of motivational speakers.  I presented a similar situation to three of the top speakers.  Surprisingly each one said "walk through that bankruptcy door and get it over with and start over."  Each one confided that before they built their fortune, they had each been bankrupt too.

I realize this may be harsh news.... but an option you should consider.
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