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 Locked4 loans? who to pay?
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tiedinknots View Drop Down
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Joined: 21/October/2004
Location: Canada
Points: 1 		Post Options Post Options   Thanks (0) Thanks(0)   Quote tiedinknots Quote  Post ReplyReply Direct Link To This Post Topic: 4 loans? who to pay?
    Posted: 21/October/2004 at 4:45pm
So here's my dilemma, just days ago i started getting calls from Alliance
One and Nordon in regards to both ontario and canada sl's. I decided it
was in my best intrest to start paying them off, as i can sort of affort to
do so, and while i disagree with the way csl is set up i just don't have the
energy to fight it.

now i will be sending a monthly amount to nordon, payble to the minister
of finance...alliance one is being decent and allowing a direct deposit to
the account with them, sending receipts and all of that.

Neither will tell me who to contact to pay off the portions of the loans
that are not in default. I have tried countless numbers for ontario and the
feds and cannot seem to get through to anyone..is it possible that my
loans will be with these two agencies forever? (between them they hold 5
thousand dollars) it is my understanding that i owe much more (i took out
like 30 grand in loans).

Also, Nordon has informed me that they will NOT issue receipts and, for
the record, Brian Singh at nordon has tried every deceptive underhanded
way of getting me to pay the full amount upfront.

I've been told by a few friends that they have dealt with nordon and the
debt never seems to go away...they assure me that they are paying 200
every month and the principle never decreases.

I've got this lump in my gut because a: i can't seem to get a hold of the
people i need to to talk about this in a civilized manner,
and b; i'm scared as hell that if i don't, the debts will continually get sent
to collections and i will have to deal with this turd for the next 50 years.

any help?

thanks in advance.
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Blue. View Drop Down
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Joined: 17/May/2004
Location: Canada
Points: 168 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Blue. Quote  Post ReplyReply Direct Link To This Post Posted: 22/October/2004 at 4:46am

I don't know if this will help you, but let me tell you what I'm doing. I'm dealing with CBCL (as of last week). I requested a statement of account from them before I agreed to pay anything. I'll be sending them cheques, which are returned by my bank to me once they're cashed. That way, I will have a record of what I've paid them, and when. Some people will say not to give them any banking information, but they can't go into my account and take money, from what I understand (by law).

Also, I was told by a CBCL collection agent that the interest rate on my CSL will be the same as the National Student Loans Centre was charging (in my case, prime plus 2.5%). So if someone is making a $200/month payment, the principle should be decreasing at a steady pace.

As for who your loans are with, well, take a look at your loan paperwork from school. I had loans both with the CIBC and with the National Student Loan Centre. It's only the NSLC loans that have gone into default. Who were you paying before you defaulted?

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