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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Kuromaru View Drop Down
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    Posted: 03/January/2010 at 1:26am
Hey, I have a couple of questions:

a little about me; in repayment for just about 30 months now, and am in good standing. I live overseas with my wife and newborn son.

1. Why must I reside in Canada? I am still paying for loans I received while I lived in Canada and my repayment interest rate floats with Canadian prime.

2. What would happen if I claimed to be a resident using my old/mother's address in Canada? Would it just mean I would have to file taxes as a resident? (oh what a sticky web I weave... I guess I would then have to pay BC medical for coverage too, those ****!) After all, the CCRA counts you as a resident for reasons such as this.
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Kuromaru View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Kuromaru Quote  Post ReplyReply Direct Link To This Post Posted: 03/January/2010 at 6:33pm
Well checking with CRA, I am a resident for tax purposes.

In that case, would it be possible to apply for RAP and then increase my monthly payment to what it is now? That would essentially allow me to make payments directly towards the principal while the government pays the interest. Doing that I could fully pay off my loan within the 5 years RAP will support me.

Wrong?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 04/January/2010 at 5:02am
That would through the bureacrats into a tizzy and cause them to re-evaluate the RAP program eligibility criteria.   Correct me if I'm wrong, but  I dont think there is a 5 year limit on RAP.
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Kuromaru View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Kuromaru Quote  Post ReplyReply Direct Link To This Post Posted: 04/January/2010 at 12:25pm
I guess my question is whether or not I can still personalize my repayment terms after entering RAP.

I read RAP is 15 years (stage i and ii) but there was some mention of 5 years in the text. At any rate, if I can get onto RAP to save the interest and make payments on the principal at a rate higher than their "fair payment" and I figure I can be paid off within 5 years.
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