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 LockedNEW HRSDC ANNUAL REPORT -- TWO YEARS LATE

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pogorelichfan View Drop Down
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    Posted: 24/May/2007 at 10:22am
NEW STUDENT LOAN ANNUAL REPORT: HIGHER DEBT, MORE INTEREST, AND MORE WOMEN IN FINANCIAL CRISIS

VANCOUVER - The new 2004/05 HRSDC Annual Report, released two years late, shows an increase of 13.7 million in student loan disbursements from the previous year--meaning more debt for student loan borrowers. It also reveals that 20% of student loan borrowers in 2001/02 were forced to seek a revision of terms, extending their loan repayment by years and forcing them to pay thousands more in interest to the government.

Moreover, while the report states the goal of the program is to "promote access to post-secondary" education, the document admits that the "complexity of the program" is actually contributing to student loan defaults.

The report also reveals that more women than ever are struggling with student loan repayment, with more than 64% of applications for Interest Relief being made by women in 2004/05.

Although the document goes o­n to say that more borrowers are expressing satisfaction with their student loan experience, about 35% of those borrowers actually in or beginning the repayment process say they are neither satisfied or are unsatisfied with their experience.

Coalition for Student Loan Fairness spokesperson, Julian Benedict, says "this report confirms that the Student Loan system is broken and in need of repair." The Coalition is calling o­n the federal government to implement its Eight-Point Plan for student loan reform.
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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: 24/May/2007 at 4:27pm

This trend certianly makes it a women's issue because it is near impossible to think family, bring children into this world, and have to deal with the high cost of education. THe choice comes down to do I feed and clothe my child or pay my student loan?

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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