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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Forum LockedInterest relief on OSAP

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osapgirl View Drop Down
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    Posted: 05/July/2006 at 9:20pm

Hi, I'm new to this board, looks very helpful so writing this.

I currently have a osap loan of $8000

I have not graduated my school yet but will like to take some time off (do to mental illness) and will like to apply for an interest relief. I was wondering how long you can have this interest relief period for? Thanks

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Debt_swimming View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Debt_swimming Quote  Post ReplyReply Direct Link To This Post Posted: 03/April/2007 at 5:33pm
Hi,
 
   If you apply for interest relief and are approved, the interest relief period lasts 6 months.  You can have up to 30 months of interest relief and at the end of the 30 months if you still aren't in a position to pay your loans, you may apply for a special interest relief period which I believe gives you up to another 24 months. 
 
If you are/were currently in school, you won't be able to apply for interest relief until you consolidate your loans.  Generally it is 6 months after you graduate/leave school that you will receive this info.  After you consolidate you may immediately apply for interest relief if you qualify based on income, family size etc.
 
hope this helps.
 
Dave
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 03/April/2007 at 7:35pm
Remember that IR relief is only available if your loans are not in default.... make sure you keep track of all conversations etc with the NSLC.

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Mark OMeara
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