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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Old Stewdent View Drop Down
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    Posted: 22/April/2008 at 2:01pm
I received a letter a while back from SFS saying my name was on a "federal restricted list" with regards to old prov. and fed. loans, before they consolidated. Does anyone have any information regarding this list?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 22/April/2008 at 11:43pm

What is SFS?

Did you borrow student loans a long time ago and go into default?
 
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 Old Stewdent Quote  Post ReplyReply Direct Link To This Post Posted: 23/April/2008 at 2:21am
SFS- student financial services and yes the loans did go into default. I am/was dealing with ARC, NORDON and CCC collection agencies. These loans happened 10 years ago-I didn't graduate - went back to school 2 years ago. I applied for another loan ( I know, dumb of me) and that is when I received the letter. I don't know if this helps you but thanks for replying!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 23/April/2008 at 7:15am
This means that you have old loans unpaid and you cannot receive any more until the old are addressed.
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 Old Stewdent Quote  Post ReplyReply Direct Link To This Post Posted: 28/April/2008 at 5:08am
Yes I do understand, that if not paying them off I won't receive any more funding. But do you have any more information on this particular "restricted list"? If not, it is O.K., since I already know: my credit is shot, could be sued, all incoming $ is theirs',etc. etc.
But it would be nice to somehow scratch my name off this list in the future. Thanks
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 29/April/2008 at 8:15am
Anyone who is on this list stays on this list until old debt is paid. There is no limitation period for this "restricted list". Your data is entered onto it and if you ever reapply for kmore funding, you will be denied until the old is paid. I know about this list you are talking about and there is not much else to it other than what has already been said.
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 thundercat Quote  Post ReplyReply Direct Link To This Post Posted: 29/April/2008 at 11:14pm
I am on this list as well and have made several attempts to find out what I could do about returning to school.  I was told about the rehab program designed to allow students a chance to return to school.  However, there is no info as a student about what they can and can't do.  I was simply told "make 6 straight payments, then you can get a loan again".  I thought.. GREAT things are looking up.

Then attempting to negotiate with NCO, they said yes theres this program, nobody told me what minimum payments had to be or anything, I get put on a payment schedule that was basically half my pay cheque for 6 months and their reasoning was "to catch up on previous interest".  I had to take a 2nd job just to do this. 

6th payment passes, I'm like GREAT!! start school, buy my books cash and start school.  Apply for OSAP, denied.  Call to see why, NCO didn't process my rehab situation.  Call them up, apparently I was supposed to keep paying these high retarded payment plan until the govt approved taking the loan back.  What was funny was, I was on auto-payments (closed that account in case) so they stopped taking the money and explained it was their fault not mine. 

They refused to process it, fix it, and attempted to start another payment plan.  I still debate whether I should drive to Edmonton and pay a visit to good ol Wendy of NCO. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 30/April/2008 at 11:58pm
Example of system failure.
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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