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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BillMac View Drop Down
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    Posted: 26/January/2005 at 9:49am
Hi all,

Great to read this forum -- glad to know there are people out there willing to help the poor shmucks like me who simply get overwhelmed when dealing with their respective financial black holes.  Here's my story:

Grad. May 2003, and for many reasons, neglected to deal with my student loans.  Moved to the Yukon in July, 2004.  This January, decide to get things in order.  Only documentation I have from the Gov't is a letter dated Oct 5, 2004, which, due to my recent change of address, I didn't receive until shortly before Christmas '04.

The letter gives contact info for SDC Collection Services, whom I contacted in the first week of January.  The CA pulled the standard CA tactics: compel me to take out another loan, demand payment on the spot.  I attempted to do so, but was denied credit from the bank, unless I had a willing cosigner.  Nobody I know is in a position to do so, and I aprised the CA of this fact.  My last contact with her was January 18th, when I was told I would be referrred back to HRDC for justice.

While all this had been going on, I was also trying to have my loan rehablitated.  I'm not even sure what that means, and I'm afraid the people at CSL aren't very helpful in that matter. 

Last week (week of Jan 17th) I called CSL to make the request and was told that a decision would be made within 5 business days.  I called again today (Jan 26th) to inquire about the outcome of my request, only to be informed of an entirely different process to have my loan rehabilitated.  The rep. at CSL today suggested I could make
6 consecutive monthly payments to SDC and I would be able to have my loan rehabilitated.  Anybody have any idea of what is going on here?

I am willing and able to make payments, but I am lost in a quagmire.  Thanks in advance for any and all advice.

Bill
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whereto? View Drop Down
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Points: 292 		Post Options Post Options   Thanks (0) Thanks(0)   Quote whereto? Quote  Post ReplyReply Direct Link To This Post Posted: 26/January/2005 at 12:58pm
The second one sounds most right.  I KNOW that you have to have your intrest up to date and keep it there.  You are also required to make  "Substandtive" (whatever amount that might be) payments for a period, but Im not sure if it s 6 months or a year.  The good news either way is that while you are doing this there's NO WAY it will end up in legal and the ca will have no leverage on you.
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Points: 5996 		Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 26/January/2005 at 5:48pm

 

 Bill,

 Look up Eshelton on this site. He has a wonderful story to share with you.

 If you want help, let me know.  
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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Points: 3 		Post Options Post Options   Thanks (0) Thanks(0)   Quote BillMac Quote  Post ReplyReply Direct Link To This Post Posted: 27/January/2005 at 12:36pm
Originally posted by Johnny Johnny wrote:

 

 Bill,

 Look up Eshelton on this site. He has a wonderful story to share with you.

 If you want help, let me know.  



Thanks Johnny,

I was going to contact you by private email, but I think this is likely the better way to do so.  Here are my questions:

1. Should I reinitiate contact with SDC to negotiate payments?

2. Even though I failed to deal with with loans, the CSLP reps failed to issue any statements (except for the Oct. 5, 2004 notice that I owe money and it will be collected by intercepting my income tax/gst refunds).  Do I have a hope in hell of getting my loan reinstated with CLSP/HRDC?

Thank you and God bless.

Bill
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