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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Sammy View Drop Down
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    Posted: 31/January/2008 at 8:10am

The problem that my wife and I are confronting.  My wife submitted a consumer proposal in 1998.  At which point she was told by the Trustee that it would resolve her of all debt, student loan included.  She was not hiding, but assumed her debt was paid off, and submitted tax returns, and even received cash back from the governement.  In November 2007 the feds collection contacted us and told us that tax returns would be garnished going forward unless we paid of the debt, and so we borrowed money to pay that off.  We also paid of the provincial portion of the debt.  This was a lot of money and tapped out our resources.  We also contacted the bank but they refused to talk with us.  Now the banks collector wants us to pay them, says that they will not negotiate and they will take us to court unless we give them 30,000 dollars by monday, which simply is not going to happen.

I guess my questions are as follows, 1) does the consumer proposal absolve her of the bank debt 2) will the bank negogiate repayment at 50 cents or less on the dollar 3) are the collectors threats to be believed 4) who should we talk to get advice to look at our case and helps us through this.
 
 
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