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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    Posted: 08/April/2004 at 9:22am

 

 Hello, I just pulled my credit report to check out the status of my Student lons that I defaulted on. The provincial loan is rated I1, which was paid off by 2003 tax return . My federal loan has a rating of  I9. Now my question is, does this mean my federal loan is written off?  Or not ?

 

 regards,

 

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hunter View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote hunter Quote  Post ReplyReply Direct Link To This Post Posted: 08/April/2004 at 10:12am
I would have to say not.
As the federal part is not listed on your credit file.
Or at least mine is not.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 09/April/2004 at 8:03am

 

 Hunter is correct here. Crown loans do not report anything further once the bank has been reimbursed. The worst rating a Crown loan can reflect on a credit portfolio is "O5". This comes into effect once the federal government fulfills the guarantee and the bank holds no further responsibility.

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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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 09/April/2004 at 8:04am

 

 The "I9" rating would be attached to a provincial non-guaranteed or risk/risk-shared stuentloan that is held and owned by the bank.

 

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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