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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Sidney View Drop Down
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    Posted: 15/December/2008 at 1:00pm
Hi, apologies if this has been covered in this forum, but I have a two-year-old and not enough time today to read through ...

I'm in good standing with NSLSC and am on Interest Relief. I've used up the first thirty months and am into the second phase. I understand in less than two years if my financial situation has not improved that I can apply for Debt Reduction in Repayment.

I last attended full-time school in 2005 and therefore should qualify for DRR in 2010, but I think I may have hurt my chance because I did take one university course this year on a tuition waiver.

My question is, how will the NSLSC find out about this course when I apply for DRR in 2010? I'm thinking of NOT claiming it on my 2008 taxes so they can't trace it that way (I know, not honest, but I don't want to harm my chances of qualifying for DRR).

Any and all advice is much appreciated.
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old hippy View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote old hippy Quote  Post ReplyReply Direct Link To This Post Posted: 18/December/2008 at 12:15am

Good plan.

 

 

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nago View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote nago Quote  Post ReplyReply Direct Link To This Post Posted: 24/December/2008 at 8:38pm
Not sure about your situation. But are you in a career? Try to get into a career seems like the better option ?

When i applied for DRR i had a criminal record so there was no way to pay my loans or get a job.

Anyways, when you apply or if you do.

1)keep a detailed record for each loan. Prov and fed. Who/what/when/where. Get there titles etc. keep cards /letters /etc.

2)apply for both fed and prov....and don't let the bank lie to you. Print the info out now so your ready for them. Look on there website to find the person you need to talk to...

3) make sure you follow all the rules. good standing, exhausted ir, and negotiate interest only payments. If necessary print this out from one of the sites to show them.

4)is number one --get organized. Organize all your loan stuff in a book. Print the other stuff out about rules and stuff now. Take it to the bank each time and show them--ie. the rules of Debt reduction.

there should be  a income table floating around too

http://img152.imageshack.us/my.php?image=2sn9.jpg
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