Print Page | Close Window

Addresses for Rehabilitation of Loans

Printed From: CanadaStudentDebt.ca
Category: News, Announcements and Alerts
Forum Name: News, Announcements and Alerts
Forum Description: Recent news stories and Announcements
URL: http://www.canadastudentdebt.ca/forum_posts.asp?TID=5983
Printed Date: 19/May/2022 at 10:01pm
Software Version: Web Wiz Forums 12.04 - http://www.webwizforums.com


Topic: Addresses for Rehabilitation of Loans
Posted By: administrator
Subject: Addresses for Rehabilitation of Loans
Date Posted: 29/November/2010 at 8:01am
Dear Mr. O'Meara:

I am in receipt of  your follow-up internet correspondence of November 4, 2010, requesting contact information for Canada Student Loan borrowers experiencing difficulties with the collection of their defaulted student loans.

As you know, changes to the legislation governing Canada Student Loans over the years have resulted in three distinct loan regimes (Guaranteed, Risk-shared, and Direct). The specific regime that a loan was issued under determines how and by whom its recovery is managed. For example:

§         Guaranteed Canada Student Loans (i.e., loans that were disbursed by participating financial institutions prior to August 1, 1995) are returned to the government and are recovered through the Canada Revenue Agency (CRA).

§         Risk-shared Canada Student Loans (i.e., loans that were disbursed by participating financial institutions between August 1, 1995 and July 31, 2000) are not returned to the  government (except for a very small percentage per year), and are collected through the financial institutions' own collection methods.

§         Direct Canada Student Loans (i.e., loans that were disbursed on or after August 1, 2000) are recovered through the Canada Revenue Agency (CRA).

 

Borrowers experiencing difficulty with the collection of their Guaranteed or Direct Canada Student Loans should contact the CRA at the following address: 

 

Canada Revenue Agency
Non Tax Collection Directorate
875 Heron Road 6th Floor
Ottawa, Ontario
K1A 1A2
English line: 1-866-336-7565 (toll free)
French line: 1-866-336-7566 (toll free)
Facsimile: 1-613-952-2754

 
Borrowers experiencing difficulty with the collection of their Risk-shared Canada Student Loans should contact the financial institution holding their loan.

 

In the event of a dispute, a borrower may wish to contact the Canada Student Loans Program (CSLP) by calling the National Student Loans Service Centre (NSLSC) at 1-888-815-4514 (toll free) and ask to be transferred to the CSLP. Individuals may also contact the CSLP directly, at the following address:

Canada Student Loans Program
PO Box 2090, Station D
Ottawa, Ontario
K1P 6C6
Facsimile: 1-819-953-6057

 

If a borrower would like a ministerial review of their file, he or she should write to the Minister of Human Resources and Skills Development at the following address:

The Honourable Diane Finley, P.C., M.P.
Minister of Human Resources and Skills Development
140, Promenade du Portage, Phase IV
Gatineau, Quebec
K1A 0J9

Thank you for taking the time to write.

Sincerely,
 
Senior Director
Canada Student Loans Program
Learning Branch
Human Resources and Skills Development Canada
 

-------------
Administrator

-------------

Mark O'Meara




Print Page | Close Window

Forum Software by Web Wiz Forums® version 12.04 - http://www.webwizforums.com
Copyright ©2001-2021 Web Wiz Ltd. - https://www.webwiz.net