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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lasergirl View Drop Down
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    Posted: 16/August/2004 at 3:39am
Does anyone have any updates/info on the
bankruptcy charter challenge? When is a decision
expected/might be expected? Thanks.
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looking*4*hope View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote looking*4*hope Quote  Post ReplyReply Direct Link To This Post Posted: 16/August/2004 at 10:36am

No word yet, my friend.

If there is, i'm sure Mark will be the first to send out an email to all members to let us know of the decision.

I've read a few disturbing posts on here that allude to this 10 year rule not being abolished anytime soon. The reasons being: The change in government and all of the "helpful" alternatives available to us as student loan borrowers, such as debt reduction and interest relief. What a load of crap.

I NEVER got my return on investment with my eduction. Only return I got was an IT industry that bottomed out...regret, grief, anxiety, depression, harassment and $45,000 (still climbing) debt. Plus a bloody system, both governmental and economic, that treats me like i'm a criminal.

If i'd only known.

I'm single, a woman and make a low wage. Had all of my dreams smashed. Watch 80% of my low income be taken away each month by greedy banks. Cannot own a car or a house, vacation, buy new clothes, go out for an evening, or ever have a family.

Bankruptcy relief is my only hope for a fresh start and I don't care what people say. If a millionaire can declare bankruptcy because he spent beyond his means, or made a bad investment, then a poor person such as myself, who has done nothing but try to survive by helping people, should have a scrap of hope as well.

Oh and they said 6 weeks for judgement. That was June 16th. Glad to see our tax dollars hard at work.

idiots!

 

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lasergirl View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote lasergirl Quote  Post ReplyReply Direct Link To This Post Posted: 16/August/2004 at 10:52am
Hi looking. I hear you. I am going back to school so
the clock will start again for me. I won't be earning a
lot of money so when my 10 yrs is up (again) I will
re-file for bankruptcy. I don't care. I want this
monkey off my back. To that end I am being co-
operative and sending small monthly payments.
Hopefully, the judge will take that into consideration
when I re-file.
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