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.


  New Posts New Posts RSS Feed - IN RAP, can I still make payment?
  FAQ FAQ  Forum Search   Register Register  Login Login


Forum LockedIN RAP, can I still make payment?

 Post Reply Post Reply
Author
emilycanada View Drop Down
Newbie
Newbie


Joined: 17/June/2014
Points: 2
Post Options Post Options   Thanks (0) Thanks(0)   Quote emilycanada Quote  Post ReplyReply Direct Link To This Post Topic: IN RAP, can I still make payment?
    Posted: 17/June/2014 at 3:48pm
I'm one of the lucky few who was fortunate enough to qualify for RAP based on my low income status. Recently, my dad had passed away and left me some money which I really wish to pay down my loan with and other debts. Will they take away my RAP status based on 1 lump sum payment (covering 30% of my loan)? Thank you, any info would be greatly appreciate it.
Back to Top
Sponsored Links


Back to Top
administrator View Drop Down
Admin Group
Admin Group
Avatar

Joined: 25/January/2003
Points: 1798
Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 18/June/2014 at 8:28am
Since you are on RAP, you are not being charged interest.  Maybe put the money in a short term GIC, earn some interest, and then pay off 32% of your loan at a future date?
Administrator
Mark OMeara
Author of Let Go and Heal: Recovery from Emotional Pain
https://LaughSingWrite.com - http://bit.ly/heal2024
Back to Top
 Post Reply Post Reply

Forum Jump Forum Permissions View Drop Down

Forum Software by Web Wiz Forums® version 12.07
Copyright ©2001-2024 Web Wiz Ltd.