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 LockedNeed advice with Husband's old loan

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    Posted: 22/June/2016 at 10:51am
Hi there,

Hubby had a old BC fed/provincial student loan through the bank from 1992-April 2000 and it went into default.  Collectors stopped calling a long time ago, and there was nothing on his Equifax and Transunion files. He recently applied for a student loan and they won't issue funds to him as they say he has a loan in default still. However CRA clawed back tax returns for years and years.  We thought that since they stopped and his credit files were clear, the default loan was forgiven.  

They Student Aid and CRA wants him to contact them in or to appeal and possibly get more funding.  Considering the statute of limitations is 6 years in both the fed and provincial portion of loan applies, is this a trap from CRA to try and get him to admit to the loan?  Should he just contact them anyways?  

All this while he just got accepted into his program too.  Angry

Thanks.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 22/June/2016 at 5:21pm
While the loan might be statute barred, he is considered high risk and the program is under no obligation to give further funding until he pays back the loan...

Makes sense right? I mean, if you lent a friend $10,000 and he never paid it back, and now claims the loan is statute barred, but wants to borrow another $10,000, what would you do?
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