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 LockedWhat the Tories should do

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JTCW View Drop Down
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Joined: 19/February/2007
Location: Canada
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Post Options Post Options   Thanks (0) Thanks(0)   Quote JTCW Quote  Post ReplyReply Direct Link To This Post Topic: What the Tories should do
    Posted: 20/February/2007 at 10:48am
It is clear that the student loan system needs to be fixed. The Tories have a huge surplus, or so we are being told. Here is what the Tories should do:

1. cut the interest rate to prime immediately, and eventually to zero;

2. tie payments to income. Payments do not start until income rises to a certain amount, and payments are fixed as a percentage of that.

3. increase the grace period to 12 months;

4. stipulate a maximum period for which payments will be made. By this I mean even if the debtor's income remains low, s/he is not still paying loans at age 50.

I wonder how much it would cost the government to abolish interest. Does anyone know?
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