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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zaydmajoka View Drop Down
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    Posted: 24/March/2007 at 11:25am
Hi, since leaving uni (2006) I have been working as a volunteer with Medecins Sans Frontieres (MSF).
Initially I applied for interest relief and I was granted it for 6 months renewable to a maximum of one year.
I could not contact OSAP or NSLSC during my various missions to renew or find out more information. Recently I got a statement in mail from NSLSC showing:
1) opening balance on 1 jan 06
2) laond forwarded to HRDC, and
3) closing balance of 0.00 (all principal and interest forwarded to HRDC).

QUESTIONS:
1) I am not sure what it means if my loans are forwarded to HRDC.
2) I want to re-apply for loans to start uni again in september but I cannot do so because according to OSAP website I am defaulting. What can I do to apply for more loans to cover for further education?
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katkat View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote katkat Quote  Post ReplyReply Direct Link To This Post Posted: 25/March/2007 at 2:28am
I have a very similar problem. They told me several times that it has to be paid in full or at least a large chunk of it
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SolveStudentDebt View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 25/March/2007 at 11:15am
Unfortunately, all of this means that your student loan is in default and the government now has carriage of the account. It is in collection.
 
Johnny
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
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zaydmajoka View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote zaydmajoka Quote  Post ReplyReply Direct Link To This Post Posted: 26/March/2007 at 8:10am
Thanks, good to have things clear.
Now is it at all possible to apply for more student loans while in default? How do I clear this default status?
Cheers
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katkat View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote katkat Quote  Post ReplyReply Direct Link To This Post Posted: 26/March/2007 at 12:35pm
Well, I dont know if thsi is the general rule, I am no expert, but when I applied for another loan while in default, they told me it had to be paid in full, not even 1 penny owing. it may be different for someone else, I dont know
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frustrated-guy View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote frustrated-guy Quote  Post ReplyReply Direct Link To This Post Posted: 27/March/2007 at 3:33am
I am not an expert either (contact Johnny he is), but it is my understanding to undefault the loan you need to convince the original lender to take back the loan from the government.  I gather this is nearly impossible.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 27/March/2007 at 7:54am

The government may require either:

1) loans be brought up to date, or;
 
2) payment in full for the defaulted loan(s)
 
before issuing any new funding.
 
Johnny
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
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zaydmajoka View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote zaydmajoka Quote  Post ReplyReply Direct Link To This Post Posted: 29/March/2007 at 4:32pm
Thanks a million esp. to Johnny.
Now who and how do I contact to get my loans up-to-date. I have the toll free 1800 numbers but these can only be reached from within north america.
Cheers
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