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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daviddickinson View Drop Down
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Joined: 19/August/2013
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    Posted: 19/August/2013 at 7:14am
Curious if anyone has ever heard of interest relief flowing from the creditor refusing to receive payment. I understand there is a common law (equity?) principle that if a creditor refuses payment, the principal of the debt is still owing, but interest is no longer enforceable. In my case, I had an arrangement with the Royal Bank to make automatic payments out of my bank account (around 1998). I became unemployed and had no means to pay and missed three payments (I believe). Meanwhile, I had haggled with EI over an underpayment (yes, this happens sometimes) and they agreed to make a "direct deposit" to my Royal Bank account. I was a little upset that after the three delinquent payments, I wouldn't have much left. However, Service Canada  tried to put the money directly into my account, but it was closed. So they sent a cheque instead. The point is that the Royal Bank refused payment and I'm wondering if I would have any legal grounds to argue that no interest should be payable after that date.
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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: 21/August/2013 at 1:34am
THat is something you would have to seek an attorney to find out.
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
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