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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Liqara22 View Drop Down
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Joined: 14/November/2012
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    Posted: 14/November/2012 at 9:53am
OK so I graduated in 2005 with a degree and now working in well paying job. Was keep all my debt under-control until last year  when my mother got sick as well as my wife so i was supporting both families on my wages. I have not made a payment to my Student Loan in over a year and failed to contact them. They have no decided to garnish my wages and with hold my my income tax refund. Funny thing is I have not gotten any notice of these actions even though they now have my current address as filed my income tax return this year. I am currently in a debt settlement program to manage my non- student loan debt. I really willing to help pay off my student Loan which is an integrated Provincial- Nation Loan which is about 25,000-30,000

May question is who do I contact to start making payments or is to late as I assume I in default. I really don't want to have them garnish my wages any help would be great
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SolveStudentDebt View Drop Down
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Joined: 05/November/2003
Location: Canada
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 15/November/2012 at 2:19am
Simply call them up and tell them you want to honor your student loan repayment obligation and set up an amortization. Just be aware that they will request all of your family financials and likely base the repayment arrangement on what they think you can afford, and set the terms as they see fit. Your approach should be open yet firm on what you know to be affordable since you are the one who knows your financial posture and situation better than they or anyone else.
 
I find it really disconcerting that the debt management (non-profit or not) doesn't work with you on the student loan issues.  These groups receive a commission (they call it a "fair share") from participating creditors just like a collection agency, and this is what they actually are. The student loan system does not offer non-profit credit counselling groups or debt poolers a commission so there is no incentive for the debt pooler to assist you. SO, if the creditors don't pay a commission the debt poolers who claim to be non-profit "don't profit". They appear to circulate in this paradoxical business areana. In your case, you are on a debt pooling contract, and that debt pool should be designed to look after you first and foremost - and help you service your debt.
 
The danger with setting up a repayment structure with the government is that they may demand a payment that might interfere with your debt pooling financial contribution. 
 
If you want some help working it out with the government that is what we specialize in. We do not debt pool or take money to pay to creditors, just so you know. It is mediation and intervention for the purpose of social/economic/emotional wellness and consumer protection. 
 
If your student loan is assigned to Canada Revenue Agency for collection then you would call their Non-Tax Collection Unit in Belleville Ontario if you are Central/East Coast, or Surrey, BC if you are Prairie/West. You can google these key words and you can find them easy enough.
 
Best!
 
Johnny
 
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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