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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Post Options Post Options   Thanks (0) Thanks(0)   Quote interest releef Quote  Post ReplyReply Direct Link To This Post Topic: NSLC- silly
    Posted: 04/September/2009 at 4:10pm

Hello all.

I would appreciate, any comments, suggestions regarding my issue.

Am a single parent, of three children.

I took a two-year break from university. During this period, I was on Ontario Works. I was also on the Interest Relief program.

I am resuming my studies, on 8th September 2009. OSAP, was approved. On August 31st 2009, I went to sign the release forms at the uny. Gave them my banking info, and they said money should be ready in a week or so.

With me so far…

September 3rd 2009, I get a call from the National Student Loan Center. I very nervous jittery representative, informed me that I need to pay the interest on my loan; otherwise they will not release my OSAP funds.

I reply, “There must be a mistake, I am enrolled on the Interest Relief” 

Rep “ Umm.. may I put on hold for a moment”

tick tock tick tock… 

Rep “ Hello, yes I just discussed it with my supervisor. Your Interest Relief coverage ended, on August 31st 2009. You will have to pay the money owing”  

Me “ How much did you say I owe?”

Rep “ $27.

{Yes Twenty Seven Dollars, and some cents.}

Me: That’s ridiculous, I start school on September 8th 2009” “cant you just extend my Interest Relief till then?”

Rep “ You will have to call the Interest Relief department at 18xxx “

Ring.. Ring..

Rep: “Thank you for calling..blah..blah,, my name is Jessica. How may I help you.”

Me: “blah..blah.. blah..blah”

Rep: “ No problem, I will send out the forms, and you will be covered until you go to school” { 8Days} “However, this will delay the release of your funds. It may take another 4-5 weeks.” “Therefore, it would be easier if you just paid the $27. You will be avoiding a lot of  hassles”

Me : “ I start school next week, I need those funds without further delay.” “Your not providing options,they are ultimatums. I cant afford $27. And I can’t afford to delay the release of funds”  

Rep: Blah.. blah..

I interrupt..

Me: How did you come up with the amount of $27?

Rep: “ Sir you owe money for the interest accrued, from 1st Sept 2009- to 7th September 2009”

Huh…

Me: How exactly, did I accumulate, accrue, interest on days, which have not arrived or passed yet?

Rep: silence………. “ Yes I understand what you mean now” “ Unfortunately, that is how the system works, and we cant override it”

Me: “ you want me to go to the bank today, and pay the accrued  interest for next Monday, Tuesday, e.t.c. “ “That’s ridiculous”

Rep { Jessica} “ Well sir, you could always wait till the 8th of September, and then transfer the $27.”

I decided, not to answer that suggestion. At that point I also realized am wasting my time. I informed her that I will go deposit the $27. But, i will be following up on this e.t.c…

I deposited the $27.

What can I do?

I want my $27, reversed without, affecting the funds arrival date.

I would like the NSLC to show a little flexibility.

Fire away guys…. Thank You. 

Oh I did write and sent an email letter to the Minister Hon Diane Finley. And I did get a reply from her, Correspondence Liaison Officer., Who wrote back to me.  Thanking me e.t.c. and ending with  Please be assured that the matter you have raised will be given proper consideration. »

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Dingo View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Dingo Quote  Post ReplyReply Direct Link To This Post Posted: 14/October/2009 at 8:46pm
$27 for 6 days?  At that rate you'll be accruing interest of $135 per month.  Can this be?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote old hippy Quote  Post ReplyReply Direct Link To This Post Posted: 15/October/2009 at 5:42am

Oh, yes....

A recorded voice tells me the daily amount of interest that is accruing on my student loans whenever I call NSLC.  It's scary. 

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Post Options Post Options   Thanks (0) Thanks(0)   Quote mupto Quote  Post ReplyReply Direct Link To This Post Posted: 17/October/2009 at 8:40am
im sitting at around just under $400 dollars a month interest on a $30k + student loan...

im currently underemployed washing dishes one day a week. and collecting unemployment insurance..

the are demanding a $371 dollar a month payment per $15k loan, i have 2 loans. so that is around $740ish dollars a month...

right now they want me to sign a paper saying how poor iam right now so they can "suspend" my monthly loan payments but this wont suspend any interest accruing during this 6 month "payment free period"

i will only accrue $2400 dollars in additional interest


thanks you student loans and government

i hope i die soon


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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 18/October/2009 at 10:43am
Are your loans in default. If not, have you applied for the Repayment Assistance Program?
You need to work on your attitude and have hope. Hope is a choice.  All of us on this website have debt... and yet we still survive and do even more than that. But it requires an attitude adjustment.   
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Mark OMeara
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https://LaughSingWrite.com - http://bit.ly/heal2024
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Post Options Post Options   Thanks (0) Thanks(0)   Quote mupto Quote  Post ReplyReply Direct Link To This Post Posted: 18/October/2009 at 12:12pm
my bottle of hope ran dry years ago.

i simply go through the motions now.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 19/October/2009 at 5:57am
well then, learn to refill it.  Its something only you can do. Remember, Hope is a choice...
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