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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sharpetorium View Drop Down
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Joined: 06/September/2005
Location: United States
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Post Options Post Options   Thanks (0) Thanks(0)   Quote sharpetorium Quote  Post ReplyReply Direct Link To This Post Topic: Debt Loads
    Posted: 08/September/2005 at 2:49pm
I think what pisses me off is that because the loans are in 'different jurisdictions' I have to pay them back differently and consolidation is out of the question unless you take out a conventional loan and pay them off.  Right.

I make out four different checks, sent out to two places every month.  RBC holds one set of loans, and NSLC the other set.  My loan payments are $464 per month.  In addition, I have a private U.S. loan for $240 per month.  There are a lot of months I really struggle to make those payments!

In addition, living in the States, I do not qualify for interest relief and maternity leave here is only 12 weeks, but it's unpaid.  I've begged them to consider it, but I get laughed at. My CSLs are the last bills I'm worried about paying!
 
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