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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BarryW2 View Drop Down
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Joined: 19/May/2005
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Post Options Post Options   Thanks (0) Thanks(0)   Quote BarryW2 Quote  Post ReplyReply Direct Link To This Post Topic: Interest Relief
    Posted: 26/May/2005 at 5:56am

I've gotten interest relief for the last 12 months

My normal rate of pay and the fact that my son lives with my part time results in no problem getting interest relief.

Problem.

I worked overtime for two months and I may be rejected.

I called them and they said I can apply again the following month as if averaged over 3 months the average income will drop as I'm back to normal hours.

So if you're rejected in May but apply the next month in June and are accepted do you have to make payments on the loans (National and Royal) for May?  Do they bill you interest the missing month?  Or do they capitalize the interest into the original amount and you don't have to pay?

The girl at National office said I could appeal but is it better to just apply the following month?

Thank you!

 

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