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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foofur View Drop Down
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    Posted: 03/July/2005 at 1:51pm

A quick hello to all on this forum.

I've just started looking through this forum, and thought that I would share with you all my story. 

I was last in school back in the early 90's.  I had to quit both school, and work because I had to go on Dialysis.  I ended up having a kidney transplant about a year later.  I was unable to work during the time I was on dialysis, and was unable to pay any of my bills.  My only option at the time was to declare bankruptcy.  After all this time, I believe I was misinformed about the nature of Student Loans and bankruptcy.  I believed that they would be cleared, just like any other debt.  I was wrong.  I was told that the only thing bankruptcy does is take you off of their collections list.

I've tried a couple of times to reapply for student loans just to be denied because I have previous defaulted loans.  I'm really wanting to go back to school, but in no way can I afford to save the money and pay for schooling myself.  OSAP wants me to pay off the old loans before I can get any new funding.  My problem with this is that if I had the money to pay them back in full, I could also go back to school.  And because the loans are from before 2000, I would have to deal with the bank holding the loans, which, quite honestly, I really don't recall which bank I was dealing with at the time.

I'm hoping to gain some insight from some of you on here as to what kind of options that might be out there.  I really would like to go back to school, but if I am unable to get government funding, that seems very unlikely.

Thanks for any information/help any of you can provide

foofur
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BarryW2 View Drop Down
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Points: 87 		Post Options Post Options   Thanks (0) Thanks(0)   Quote BarryW2 Quote  Post ReplyReply Direct Link To This Post Posted: 03/July/2005 at 6:05pm
Early 90's?  When did you go bankrupt?  If before 97 the student loans would have been cleared in the bankrupty.  If after 97 then has it been 10 years since you left school?  If so, you can request to have those loans added to the bankruptcy. 

I know it doesn't solve the issue of getting funding to go back to school but, quite honestly, I'm not sure there is a solution to that problem, as logically why would they lend you additional funds when you defaulted on the other funding.  They will require you resolve the existing funding issue before they consider additional funding (if ever). 

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foofur View Drop Down
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Points: 2 		Post Options Post Options   Thanks (0) Thanks(0)   Quote foofur Quote  Post ReplyReply Direct Link To This Post Posted: 03/July/2005 at 11:53pm

It was back in 1994.  If I go to the OSAP website, the funds issued are still there. I don't know about the CSL portion though.  OSAP only lists the Provincial portion.

So, basically this is my problem then.  I am being penalized for something that really was not under my control, and cannont better myself by going back to school.  Seems a bit unfair.  I mean, you can get loans or credit from banks after a bankruptcy, why not a student loan?
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