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 LockedAdvice from Tricura led to bad credit

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    Posted: 04/March/2012 at 10:47pm
I need some help to get this disputed and my credit score back up, as soon as possible.
I have 3 student loans-OSAP, Federal and Nova Scotia

In January I applied for repayment assistance. 

I called for assistance to make a payment on the Nova Scotia loan online (I could not find the payee)

The man I spoke to said that I should not make the payment as I was applying for repayment assistance, that way the payments I had made (on the other two) would be applied to the principal and the repayment assistance would begin a month earlier. I thanked him for his great customer service.

At this point I have been pre-approved for a mortgage and I am shopping for houses. Eventually settled on a house and go to the bank to finalize financing.

Come to find out I have been reported to the credit bureau for not making the payment that I was calling to get assistance to pay, but was advised not to do so. The bank will no longer finance me. 

My financing date is today (march 5th), but I have applied for an extension. I now have 11days to dispute this, get my credit score up and get approved for a mortgage. 

Does anyone have ideas about what avenues would get the fastest resolution?
I am really in a pickle and will loose out on a great buy if I can't get this sorted out. I cant even sleep.



Siobhan
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 05/March/2012 at 6:42am
I'm sorry, but I don't understand how you can be buying a house when you cant afford to make your loan payments.  Can you please explain?

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Mark OMeara
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Now teacher Quote  Post ReplyReply Direct Link To This Post Posted: 09/March/2012 at 10:46am
well I now actually have a decent salary, but I applied for repayment assistance so I can have affordable payments. I also have one dependent.

besides this property is an income property so i will actually be saving money on rent and other expenses.
Siobhan
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