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 LockedInterest on student loans question

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tkarmy View Drop Down
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    Posted: 19/May/2013 at 8:48am
My loan is with CRA but I've been paying them faithful for years. I was just about to file my income taxes and claim the interest I've paid over the last three years when I noticed this on their site

"In addition, you cannot claim interest you paid because of a judgment obtained after you failed to repay a student loan."

Does being with CRA count as a "judgement" or can I still claim interest on the loans?

Thanks for your help
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Madmorrigan View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Madmorrigan Quote  Post ReplyReply Direct Link To This Post Posted: 22/May/2013 at 2:07am
The term "judgment" means a legal judgment--not just being in collections. Did the CRA obtain an actual legal judgment against you? 
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tkarmy View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote tkarmy Quote  Post ReplyReply Direct Link To This Post Posted: 22/May/2013 at 9:41am
no there was no actual 'judgement' - they are just collecting on it.
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Madmorrigan View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Madmorrigan Quote  Post ReplyReply Direct Link To This Post Posted: 23/May/2013 at 1:12am
Then you can go ahead and claim it. :)
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SolveStudentDebt View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 23/May/2013 at 4:25pm
If ther eis a judgment you can claimn any interest paid prior to the judgment. FYI.
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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aaska01 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote aaska01 Quote  Post ReplyReply Direct Link To This Post Posted: 17/June/2013 at 2:33am
Hello,
 what if your loan went into default and is with a collection agency (CBV)  Can you claim the interest paid on your loans?
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SolveStudentDebt View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 17/June/2013 at 2:16pm
You can claim interest paid on your student loans as stated above.
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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