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 Locked29 years old student loan in collections ...

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Joined: 18/May/2016
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    Posted: 18/May/2016 at 5:13am

Hello and thank you for your support in answering this inquiry. My husband has borrowed $60,000 in student loans between 1994-1997. In December 1997 my foreign student visa expired and I was declined renewal. Consequently I had to suddenly leave Canada and my husband (back then only a boyfriend) decided to follow me in my country of origin in Europe to marry me. This was an unplanned, sudden departure resulting in him never graduating from his York University program. Our marriage and the processing of immigration papers took over 2 years, and during his stay in Europe he defaulted in paying his Student Loan (as he lacked the income and even the knowledge of what he needed to do better). After our return to Canada in 2000 he learned that he could not anymore apply to have a portion of the loan forgiven, that his student loan wss in collections and there was nothing to do about that anymore.

We have been flawlessly paying the collections agencies for the past 16 years (200-300/month was best we could afford). Currently we still have over 9000 plus interest left to pay, and we are struggling with debt and the finances necessary to raising 2 kids.

My inquiry is if there may be any way we can perhaps have the remaining amount reduced or forgiven? In a normal situation he/we would have qualified to have the (I think) Federal portion of the loan forgiven. Is there any support in "good fate” for our specific situation? We think that the consequent financial penalty in an impossible to control situation is very high. Is there a way we can bring this student loan out of collections and then apply to have it forgiven? Or maybe some one can suggest any other way we can stop paying for this endless loan? Can anyone help us? Please advice. Thank you. Cry 

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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 18/May/2016 at 8:21am
It is possible, yes. You can pitch it to them on your own or you can have it done professionally.  It all depends on a number of circumstances and that has to be explored in order determine a case for it, it's strengths, risks, and potential outcomes.  The government is VERY particular and discourages people from making these moves in any way they can.  Unfortunately, they prefer to tell people it isn't possible. However, it is possible and we help people in this way all the time. Their objective is to collect money and not arm people with the ability to discover how to save money. 

If you want us to help you you can contact privately through the site in the signature below. Otherwise best of luck! 


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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