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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NigelTufnel View Drop Down
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    Posted: 11/August/2012 at 8:47am
So I've been bad, I know, and haven't payed back my student loans.  I have been out of school since 2006, and haven't made any payments on my Canada student loan, though my BC student loan has all but been paid off due to a wage garnishment a few years ago.  Being not much of a financial genius, when the garnishment stopped I thought I was in the clear, but now I've received a letter in the mail (two letters, actually, dated the same day and with mostly the same content) stating that I have 10 days to repay $10,000 to the government.  I live paycheck to paycheck and certainly don't have that kind of money.  I am willing to make payments, though the reason I never paid was because I couldn't afford the minimum payment proscribed by the government.  One of the letters has included a questionnaire about my current finances, should I fill it out and send it back?  I'm just not sure what to do.  My credit is shot all to hell already, so I'm considering bankruptcy, but I'll have to wait until April of next year before the 7 years is up since being a student.  Does anyone have any advice for me?
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tkarmy View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote tkarmy Quote  Post ReplyReply Direct Link To This Post Posted: 13/August/2012 at 4:58am
Call Johny at the CFW group. I was in a similar position a year ago... they wanted $600 a month and me to fill out the house hold questionairre... I was willing to pay but that was a bit much and my girlfriend makes decent cash but also is in debt up to her eye balls after vet school... so on paper yes we make a ton of cash but the reality is we are broke.
 
ANYWAY... Johnny got on the phone and got my payments down from $600 to $525 (still a lot but I could afford it) and I didn't have to fill out the instrusive form. But also if it was 2006 and you've never made a payment you might be looking at a stats barred situation as well... best call Johnny, he can find that out as well. Always better to have a third party handle these types of situations, with all the legal threats and whatnot it gets a bit much to handle emotionally.
 
Good Luck
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