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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times1039 View Drop Down
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    Posted: 20/June/2004 at 8:44am

Hi Everyone,

I'm dealing with CIBC's collection goones right now for a $3000 student loan. Back before I finished school I started developing symptoms that later turned out to be MS. Several years later I am left pretty much unable to work. Simple things like groceries are a chore now for me. I'm on medication for this and that bill is 23K a year and paid for by the province.

Now, with that out of the way... here's what I'm getting with the collection people. The first woman I spoke with gave me her fax number and I sent up copies of my previous years tax return, medical bills and a note explaining that I would be willing to settle this, but can't afford 3k. I never heard back from her... even after following up with another letter.

Several weeks later I started getting a phone call from a guy and after calling him back I found out he was from the same office. Now I have to deal with this guy. I give him the basic run-down on what's happened and that I can't afford it. He asked me to re-send my tax info and he would speak to someone. A family friend said they would provide me some $$ to help pay this off since they know it bothers me to have it oustanding on my credit. I called him back to ask if I could make an offer to settle. I left a message on his voice mail and never heard another word from him. I refused to send my tax info in hopes that he would call me asking where it was. At that time I would ask about settling it.

Has anyone else settled for less? Anything short of a cure for MS is not going to give them any hope of getting the 3K out of me. I can get $1000, but can't get ahold of them to find out if they even want it. They didn't seem too anxious to even talk settlement the first time I spoke to the woman collector. Then again it wasn't $1000 either.

What does everyone else think? I'm curious to hear other peoples thoughts and suggestions.

Thanks!

-T
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markomeara View Drop Down
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Points: 186 		Post Options Post Options   Thanks (0) Thanks(0)   Quote markomeara Quote  Post ReplyReply Direct Link To This Post Posted: 20/June/2004 at 10:27am
If your disability reduces your ability to work, then you should be applying for disability. If approved, your loans would be removed from active collection.

Your disability has to reduce your ability to participate in the workforce, and it must be permanent.
There are medical forms to fill out and financial statements to be provided. Its not easy to qualify for. HRDC doesnt agree to it very easily. Your disability has to occur within 6 months of graduating.

The collection agents wont tell you this because they want their commission.

Contact the national student loans centre and apply for disability for your student loans. According to HRDC's interpretation of the policy, if you are single making less than $1604 per month net, then you would qualify. This amount could be challenged though....

With disability, the loan remains on the books, but out of active collection.


Regards,
Mark



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times1039 View Drop Down
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Points: 5 		Post Options Post Options   Thanks (0) Thanks(0)   Quote times1039 Quote  Post ReplyReply Direct Link To This Post Posted: 20/June/2004 at 12:05pm

Thanks Mark,  I've known another person who did the application process and it was just more head ache then it was worth. In the end it didn't do any good.

I'm willing to settle this or wait out the remainder of the years and bankrupt myself. I've made this absolutely clear that they can work with me and get a good chunck of this now or wait and get nothing. I would like to see this taken care of, but I'm not going to try to talk common sense and explain that something is better then nothing.

 
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markomeara View Drop Down
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Points: 186 		Post Options Post Options   Thanks (0) Thanks(0)   Quote markomeara Quote  Post ReplyReply Direct Link To This Post Posted: 20/June/2004 at 1:33pm
I would agree that its best to try to settle it if you can. with disability, the amount remains on the books, and who knows what some govt will do 10 years from now to try to collect these things. It will also help repair your credit rating if you can settle it...

I would recommend trying to hire Johnny on this... he might be able to work out something with the higher ups... and get more action and a settlement that will stick rather than having your file bounced around...

Mark
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times1039 View Drop Down
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Points: 5 		Post Options Post Options   Thanks (0) Thanks(0)   Quote times1039 Quote  Post ReplyReply Direct Link To This Post Posted: 21/June/2004 at 8:49am
who's 'Johnny'?
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markomeara View Drop Down
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Johnny is at canadian financial wellness group. highly recommended as an advocate... info is on the main page...
and in the recommended advocates forum.
Mark
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Points: 3 		Post Options Post Options   Thanks (0) Thanks(0)   Quote star Quote  Post ReplyReply Direct Link To This Post Posted: 04/July/2004 at 12:30am

It sounds like you are eligible for HRDC's Permanent Disability Benefit (PDB).  If you qualify, the government repays your loan in full. 

Contact Info:

Canada Student Loans Program

c/o The Permanent Disability Benefit Unit

P.O. Box 2090, Station D

Ottawa, Ontary K1P 6C6

 
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SolveStudentDebt View Drop Down
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 Telephone 1-888-815-4514. Then, ask to be transfered to the Canada Student loans Program Service Center and a representative will issue a Permanent disability kit.

 Remember, loans granted before August of 1995 must be in good standing to even qualify for this benefit.

 
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
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times1039 View Drop Down
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Do you need to be on disability in order to take advantage of the HRDC program? Luckly for me I am not on government assistance. I'm self employed and work from home, so other then the medication I am self sufficient. Just not enough to meet my basic bills and huge loan payment. (not to mention the fact that they want me to pay off all the past due amount right away)

 

 
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Points: 3 		Post Options Post Options   Thanks (0) Thanks(0)   Quote star Quote  Post ReplyReply Direct Link To This Post Posted: 05/July/2004 at 11:01am

You do not have to be on disability to receive the Permanent Disability Benefit.  Here's what HRDC says on their Fact Sheet: 

"You must be experiencing exceptional financial hardship with your repayment obligatons due to your disability.  CSLP will determine your financial ability to repay your Canada Student Loan by taking into account your net family income which includes employment earnings, investments, financial assistance under social programs, and monetary gifts.  We also consider your family expenses."

My mom applied for the benefits for both her provincial and federal student loans and although there's a lot of paperwork involved its worth it in the end.  Good luck to you! 

-M
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If I look after my mother who is disabled, receiving disability and has had her loans completely forgiven...is there any way I can have my considerable loans forgiven as well..being her primary caregiver?
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Points: 375 		Post Options Post Options   Thanks (0) Thanks(0)   Quote eshelton Quote  Post ReplyReply Direct Link To This Post Posted: 30/October/2004 at 7:56pm
Probably not.  The system is very unforgiving in any respect. 

There is something HRDC passed recently to recognize caregivers (I think for receiving social assistance or something).  You could use that argument applied to the student loans and try to have them reduced.   Just a thought.
"A proof is a proof. What kind of a proof? It's a proof. A proof is a proof. And when you have a good proof, it's because it's proven." - Jean Chretien
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Points: 915 		Post Options Post Options   Thanks (0) Thanks(0)   Quote polyhymnia61 Quote  Post ReplyReply Direct Link To This Post Posted: 30/October/2004 at 10:44pm

Employment Insurance, eshelton. But, like everything else to do with EI, I'm sure they make it as impossible as possible to collect.

Poly
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