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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whelansm View Drop Down
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Joined: 30/October/2009
Location: Edmonton
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Post Options Post Options   Thanks (0) Thanks(0)   Quote whelansm Quote  Post ReplyReply Direct Link To This Post Topic: Total Payment?
    Posted: 05/January/2010 at 7:14pm
Need a little advice asap! lol  (isnt it always asap?!?? lol)  Thanks though...

anyway,


i have 2 old student loans...one is statue bared and the other is active for another 1.2 years...then its off the credit report too...anyway, i wanted to buy a house.  Of course they say I have to pay the loan off before they will approve the mortgage.  I checked my credit report and it said two numbers....one was a of balance 10,000 and the other was max credit limit of 12,000.  Do i owe 12,000 or just the 10? 

Second big question is can i just give them the cash to clear off the portion of the loan on the credit file?  Just borrow and cut them a cheque for the 10g a be done with this?  My bank said they would approve my mortgage IF i can clear that debt...but im worried that they will say I owe 12000.01 and make a 1 cent penny on the statue bared one to re-instate it for another 6 years...any ideas?

Any help on this would be great as I only have a few more days before my chance to get the cash will fall through...

Thanks again everyone!



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SolveStudentDebt View Drop Down
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Joined: 05/November/2003
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 07/January/2010 at 8:19am

Hey S,

The statute barred loan is the issue, yes. However, your proposal to take it out is all centered on the active loan. That is how I set it up for you. There is no acknowledgment going to happen on the barred one. Everything is based on the one risk loan as we discussed. I haven't heard back yet. Call me after 6 Pm and I will see what I canb scrape up for you.
 
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

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