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 Lockedwill nor don keep their word?

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wakajawaka View Drop Down
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Joined: 01/March/2007
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    Posted: 01/March/2007 at 6:56pm
Hello
Nor Don
was calling me collecting on a 6500 student loan
I  was offered a settlement of $3000,and was given a week to get back to them.Over the week i tried to get advice from everyone i knew( including my bankruptsy trustee).Everyone i talked to said take the deal. So i borrowed the money from my parents and got an advance at work and sold some stuff to come up with the rest.I called them back and told them id take the deal.They told me to go to scotiabank and deposit the money into a one way trust acount,they could see the money immediatly and then would send me a letter saying the account was paid in full. I asked the collector directly several times including 2 minutes before i paid the money,if this was it,i explained what i had to do to get the money and that i was concerned about getting another call,asking for the remainder,he assured me that i was going to recieve a statement saying it was paid.It has been 2 weeks and i have not recieved any letter,and can not seem to get the agent i was dealing with on the phone surprise surprise.
Also 2 days after i paid i recieved a letter from a attourney in calgary demanding payment.The letter was dated  during the week i was trying to come up with the $3000,
I realise now after reading stories on this site  that i was naive,i realise now  i should have gotten it in writing before i paid,i just didn't know what my rights were.what are the odds they will keep their word?
P.s i haven't recieved any more phone calls.
any help would be great thanks
W
 
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SolveStudentDebt View Drop Down
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Joined: 05/November/2003
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 02/March/2007 at 2:16pm
NEVER take a settlement wothut getting written confirmation, and a release. This could be complicated. YOu should contact theagency and demanda formal release letter. If they refuse, let me know and I will help you out.

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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