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 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 have been forced to cancel programs and layoff hundreds if not thousands of full-time and contract instructors.

Again, the Liberal government has messed up the education environment.


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ZandreBean View Drop Down
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Joined: 24/January/2007
Location: Canada
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    Posted: 24/January/2007 at 12:31pm
I just settled my federal portion? of $26000.00 with NCO (thank god for parents) Now Allied International Credit is coming after me for Ontario portion of $6900.00. Has anyone ever dealt with this company? They also stated that this would be documented on my file as - HAVING PAID OFF FEDERAL LOAN BUT NOT THEM. It is 8 p.m. and I am still fuming from 3p.m. this afternoon. the man I am dealing with is a pompas ass.... I can't not settle as my repayment is $500.00 a month for my other loan, I am tapped. I have been making $100.00 payments to Allied but missed a payment in Nov. they are now stating that they may take my Income tax and advise. I thought they had to take payment even if it is minimal.
 

Frustrated.Cry
Zandre
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kevin99 View Drop Down
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Joined: 17/November/2007
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Post Options Post Options   Thanks (0) Thanks(0)   Quote kevin99 Quote  Post ReplyReply Direct Link To This Post Posted: 17/November/2007 at 7:04am
I sadly was down a path almost the same as you.  I convinced my bank to buy back some of my student loans and they did, luckily for me. which elimnated half of my debt problem allied had the other half, which I made a payment of $50 dollars a month for 2 years.  This was something in the range of $48 to interest $2 to principle.  AFter I resolved my other debt problems, then I started to gradually up the payments to allied.

Also I was giving them cheques post dated in advanced.  One day my employer bounced a large cheque to me which in turn made my cheque bounced.

At which point I phoned in my payments at the end of each month and never sent them a cheque ever again.
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