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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debtorprison View Drop Down
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Joined: 15/April/2008
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    Posted: 15/April/2008 at 11:53am

I am looking for information regarding the maximum income levels to qualify for a

Canada Student Loan reduction.  I have found Ontario tables (and the maximum income levels are pitiful).
 
I have (finally) a well-paying job but i am not making much progress into my debt (I just received my annual statement-- i paid over 6000 dollars last year and more than half of that was in interest!).  At this rate it will take me ~18 more years to pay off this damn thing.
 
I  have been out of school for almost 10 years which also means that bankruptcy is a possible option (18 more years of bulls.. after i have been paying for 8 years is unbearable). Funny thing is that i will almost be retiring by the time this loan is paidDead
 
Any information would be helpful
 
 
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old hippy View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote old hippy Quote  Post ReplyReply Direct Link To This Post Posted: 16/April/2008 at 12:31pm
Hey debtor,
 
 
click on "maximum income guidelines" - wow! that's something...the table is actually posted online and it's easy to find...probably cost the gov't millions to come up with that idea.
 
I'll have paid $75,000 in interest when I hit retirement age (if I keep paying it) - but anything can happen I guess.  That'll teach me for "going back to school" LOL
 
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