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 LockedForm 5 - Assignment or Inter-Branch Transfer

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zehwright View Drop Down
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Joined: 25/March/2010
Location: Ontario
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    Posted: 25/March/2010 at 2:10pm
I have requested original student loan documents and other information about my guaranteed and risk shared loan under the information Act. I have come across Form 5 which requires 3 signatures. The risk shared loan was granted to TD in 1994. After 1995 CIBC was granted the guaranteed loans. Form 5 was used to transfer the money from one bank(TD Canada Trust) to the other bank (CIBC). Form 5 that was completed by both financial institutions but the form did NOT include my signature. CIBC Bank signed on my behalf with a stamp Has anyone else requested this Form 5 for which you did NOT sign?
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