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 LockedHelp!! The bank sold my student loan!!
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Cyndii View Drop Down
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Joined: 23/November/2012
Points: 3 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Cyndii Quote  Post ReplyReply Direct Link To This Post Topic: Help!! The bank sold my student loan!!
    Posted: 23/November/2012 at 5:04pm
I was wondering if anyone has had any of the issues I am having. I am one of those people who got a student loan in 2000/2001. I got a new loan paper and brought it in every month. Some how my loan got separated into 4 or 5 different loans/ but the same loan.....I thought everything was ok.. until I started to try to keep up with my payments, I had troubles with interest relief because they were busy so they stale dated my paperwork on going for abut 2 years in this time they had told me they had lost my paperwork, and couldn't find it. I tried this for 3 years, the people could not even answer me in english.. I tried to make payment arangements, and locate where all my loans were. this was a time consuming 2 hour phone call that brought me in circles. Then I had to communicate back to the bank.. no one new where all of my loans were so I did my best.. After dealing with this I made a payment to one of them and reported it to them. the person on the other side told me my $250 was not good enough.. I was totally discouraged by the way he had put it to me, I got through to another person on the end of the phone who told me not to make payments then make one big one.. that means I had to do that with all of them. Some of them wer provincial, some of them goverment, and some how the other mix of it was somehow turned into personal. I was only 19, I didn't understand any of it. I was going into the bank and signing the government form every month for 2 years... 
I gave up on trying to find where they all were.. I was losing sleep and I had to work.. I had no time of the rat race of the 2 hour phone calls, I got myself into trying to figure out what was going on. I was a young girl with creditors yelling at me, I was so scared.
I let them go.. I gave up.. they don't even want my money....
Later on I cam across some money and tried to pay what I could off... Trying to find it all.. GOOD LUCK!!
I have worked in the same place for 12 years, my contact info for my parents pretty much stayed the same. There was no excuse not to contact me.
I went to pay everything off and again in an awful circle. I had checked my credit beaurau for the personal loans because that is where they would probably be.. I payed what was there with the account numbers that were there.  cleaned up... so I thought...
I phoned RBC.. "you do not have a student loan with us any more.. It's been written off.." ok well then.. I guess I did a good job of paying them off...
Last year on my birthday I get a knock on my door.. A birthday card with a demand to pay from a law firm who had my Gov't loan. I tried to tell them I think I payed it off. they wouldn't leave me alone and called me at work.. I made a $25 payment on the old number I had in my computer banking to shut them up.. they told me they never got it... 2 months later they had took me to small claims court without my knowledge and garneshed my wages.. They put it on the very bottom of an email, I called them on it because I was comunicating with them and phoning, they fixed it by taking it as 5 months worth of payments, because we were working out arrangements, the are threatening 30% wage guarnish if I cant make my payment.. at this time CVB and ACO are also trying to collect these loans. They all say they are not connected, The lawfirm collection was the same as CVB so they told CVB to leave my lone... ACO was given about a week ago, and they said it was with CBV.(So pretty much the same bill) all together they are from RBC. The lady had told me this is the fourth company your loan has been through.. she is demanding I pay twice as much as the other loan companies, she has been calling my work, auto dialing my home and cell number and demanding I give her money tonight from moneymart.. I would never just give money over the phone with out proof of who they were.. 
I am stuck.. I made my payments through a savings account that doesn't exist anymore. 
I don't even know whats out there.. 
I am really worried because I have read that RBC sold some of their accounts to other agencies and changed the numbers so it would be different accounts etc.. 
I need help cleaning up this mess one more time..
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