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 LockedNegotiating a payoff

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chokdii View Drop Down
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Joined: 24/August/2005
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    Posted: 24/August/2005 at 3:08pm

Hi Johnny..maybe you can give me some sound advice.

Back in 1999 I had to drop out of university due to financial hardship. I left with about 17,000 in debt. I believe about 4,000 of that is in Canada student loans. The rest is from Alberta.

I moved overseas in 1999 and just completely left the debts and the headaches, but now I am back again and the probelm is I wish to sponsor my wife to immigrate to Canada. I am quite worried that this old debt is going to come up somewhere on the immigration system, and thus I would be rejected.

Do you think that other governement departments will see this outstanding debt?

Is it a good idea to go and try to pay on it?

What kind of payments should I propose for a 17,000 dollar debt like this?? I only clear about $1800 per month right now.  The loan is with CIBC....should I contact them?

Any help will be greatly appreciated...

 

Thanks

 

 

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