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 LockedStudent Loans has NO record of my repayments!

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AlbertaCowboy View Drop Down
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    Posted: 28/July/2012 at 9:33am
hello,

I took out a $2000 loan from the National Student Loan centre in late 2010.  I completed my course in June 2011, and began making payments in September 2011.  The amount I have paid is $50/month, and I have done this through online billing, and used the account # that the NSLC had given me.  One time in March, I was a couple days late for my monthly payment, but called the NSLC, and informed them ahead of time, giving my account #, and when I was going to pay.  The lady took my #, informed me that this was no problem, and that was the only problem I ever encountered.


Three days ago, I get a call from Tri-Cura Canada (collection agency from the Canada Student Loans), informing me that I have not made ANY payments, and threatening to garnish my wages.  I was shocked, to say the least.  I have been paying monthly for nearly a year, and have banking records to back it up.  I'm not sure what is going on, but I now have to go to my bank, and get all records of me paying the account # they had given me.  

Could there have been some kind of mix-up, and the NSLC has the wrong account number?  Can they attempt to charge me interest for the supposed "late" payments?  And finally can this affect my credit rating?  I am really upset about this, since I make every effort to pay my bills on time.  Has anyone had any previous experiences with problems with account #'s, and repayment?

Any info would be greatly appreciated.
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administrator View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 28/July/2012 at 10:09am
You need to call the NSLC and escalate this to their Case Management Team.
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Mark OMeara
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Post Options Post Options   Thanks (0) Thanks(0)   Quote AlbertaCowboy Quote  Post ReplyReply Direct Link To This Post Posted: 30/July/2012 at 6:03am
Wow.

This is unreal.  The Case Management representative and I chatted today.  Besides being rude and condescending, he informed me that notes on my file indicate that "two representatives had spoken to me a few months back, and informed me that my account was past due."  The strange thing is that I moved in March 2012, and switched numbers.  It was my family who had phoned me, informing me to call the NSLC (not sure how they got their #, but I assume it was for a loan I had taken out 10 years ago).  

Is this even legal?  I certainly had no idea my account was in arrears.  If this was the case, I would have made every effort to bring it up to date.  I'm still somewhat pissed off that the NSLC/TriCura had no trouble gaining access to my parents personal info, but could not be bothered to acquire mine.  I'll head to the bank today, and ask them for records of all my payments.  Now I have to ask them to investigate this, and fax NSLC Payment Processing, with a detailed information pertaining to my account.

Fun stuff.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 30/July/2012 at 8:46am
Did you notify them in writing that you had moved prior to moving and updated an address for them?
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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