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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Aless View Drop Down
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    Posted: 19/November/2004 at 3:57am

Many thanks to those who have helped me here in the past.  Once again I seek a bit of knowledge.

I am in a position to attain a fair sum of cash within a half year or so, but the government doesn't wish to make a settlement and I have no intentions to pay the interest on a loan that was mishandled.  My stats date is May 2005 and they seem to know this and would rather see the loan fade out of reach rather than take a portion.

My big questions are:

1.  What exactly happens to the loan after this 6 year date?  Will they still be taking my GST and Income tax?  Will it never show up on my credit file?  Is it really gone?

2.  I am obviously on the risk-list for future student loans.  Will my name be removed after the 6 years?  I would like to someday go back and with the knowledge and abilities I have now I could pay a student loan off quite easily. 

Again, many thanks.

 

 

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momof2 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote momof2 Quote  Post ReplyReply Direct Link To This Post Posted: 19/November/2004 at 6:50am

aless

i am not sure what province you are in but check this link for some info - basically sounds like you are fubar'd pretty good here.

www.aved.gov.bc.ca/studentservices/student/finish/default.ht m

good luck

professionals built the titanic but amateurs built the ark...
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Islander Quote  Post ReplyReply Direct Link To This Post Posted: 19/November/2004 at 2:12pm
Why on earth would you even consider another student loan?
What? Me, worry?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Aless Quote  Post ReplyReply Direct Link To This Post Posted: 19/November/2004 at 3:03pm
I am considering another student loan because I know I can get the money to pay it back relatively easy.  I am a teacher and my degree is not up to snuff compared with the kids graduating today.  Another year will make me more marketable in this country and I can always leave to fetch the money elsewhere if I don't find a job in Canada.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Aless Quote  Post ReplyReply Direct Link To This Post Posted: 19/November/2004 at 3:07pm
oh, I am in New Brunswick.  I reckon I am fubar'd as well.  I won't lose sleep about letting the 6 years run out, but it seems odd that the government won't take a portion rather than lose out on all of it.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote momof2 Quote  Post ReplyReply Direct Link To This Post Posted: 20/November/2004 at 3:57am

since when does the government ever do anything that makes sense ?

think about the whole loan repayment process here.  cant' get a job - apply for IR.  exhaust IR - apply for debt reduction or loan forgiveness.  still can't pay ?  oh well you default.  still cant pay - they send you to collections.  still can't pay - well lets sue you for the hell of it.

rather than make things like interest relief, debt reduction and loan forgiveness easy and automatic, the banks and the government make it impossible to navigate the waters.  many students have defaulted because they were unaware of the existence of the interest relief program.  you can only apply for a disability benefit for repayment of your loans if your disability is diagnosed withing seven months of graduation.  they consider the total family income when determining eligibility for these programs though your spouse has no legal responsibility to pay your debt.  they do not consider expenses when processing these applications for reduction or forgiveness.  you cant apply for debt reduction if you are in default.  and the list could go on and on........

professionals built the titanic but amateurs built the ark...
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