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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kasha View Drop Down
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    Posted: 07/September/2004 at 10:17am
Hi,

I've been applying for Interest Relief since I graduated and I've been approved each time (I don't make enough to cover my payments). I'll soon be on IR for the 30 months I'm allowed. Has anyone applied for this "Extended Interest Relief" that allows up to 54 months? Any insight as to why it's different from the regular one? I just want to be as clear as I can about it going in because they've already screwed up my files on a regular basis. Thanks so much!
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administrator View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 07/September/2004 at 4:39pm


I believe the program is just about the same as the first 30 months. For information go to www.canlearn.ca

Click on NSLSC, then repaying your loan,
Fill in the details on the form (province, FT or PT

Then click on "Obtaining Repayment Assistance"
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danny View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote danny Quote  Post ReplyReply Direct Link To This Post Posted: 21/November/2004 at 9:52pm
my 54 months runs out in dec

after 30

you just apply for bridging

seems the same
Johnny save me!!!!!!!!!!!!!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote momof2 Quote  Post ReplyReply Direct Link To This Post Posted: 22/November/2004 at 3:17am
its the same, but depending on your bank they just lose your forms more frequently.  and all it does is delay the inevitable, in my case at least.
professionals built the titanic but amateurs built the ark...
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Post Options Post Options   Thanks (0) Thanks(0)   Quote kasha Quote  Post ReplyReply Direct Link To This Post Posted: 23/November/2004 at 11:50am
Thanks for your input. I gathered that I'll be filling out the same forms because they approved me for another 6 months. I've been scrounging and saving for when I'm just about to exhaust all my interest relief I'm going to pay a chunk off/or hopefully all of my direct loan and give them no interest. The bank hasn't been nearly as incompetent in losing my forms.

I recently discovered that there are some  secure investments that I can lock whatever I've saved for the next couple of years with higher interest than what the student loans charge. I'll look more into that (to make sure it's not a scam) and post whatever info I can.

You're right momof2. It is in a way postponing the inevitable but I'd like to give them as little interest as possible.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Fubar Quote  Post ReplyReply Direct Link To This Post Posted: 23/November/2004 at 3:59pm

You can apply for interest relief for up to 5 years from the date you ended your studies. So if you were a full time student until may 2000 you can be on regular interest relief for 30 months and then apply for extended or "bridging" interest relief up to may2005.

The difference between the two is your loan payments. Your qualification for interest relief is based on a chart comparing your family size, gross income and loan payment. If your loan payments are not already set to their maximum term (174 months) they will be changed to that amount and then your elligibility will be based on that. Other then that the qulaifying guidelines and application process is the same.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 23/November/2004 at 8:17pm

 

 Fubar,

 You must work at NSLC .. or have worked there. YOu are well versed in how they speak based on how I read your text.

 

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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Post Options Post Options   Thanks (0) Thanks(0)   Quote Fubar Quote  Post ReplyReply Direct Link To This Post Posted: 25/November/2004 at 2:42pm

I got caught in the 99-00 switch over and had a loan go to hrdc (funnily enough wihtout any contact from collections) and only stumbled upon the NSLSC by accident (even though I had friends working there, go figure). I got a recall.

Work or have worked there? Friend of a friend of a friend. Removed enough to post here. Close enough to understand/get answers.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote momof2 Quote  Post ReplyReply Direct Link To This Post Posted: 25/November/2004 at 5:01pm
close enough to get some info and post some contact names of people with authority ??
professionals built the titanic but amateurs built the ark...
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