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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    Posted: 01/July/2009 at 4:30am
I fiished college 6 years ago, and currently ower $10K to my federal loans and $3K to my provincial loans.  My loans have been in collections for about 5 years and I have been fighting with them paying about $200 every month because that is all I could afford. 
 
I'm a bit better financially now and want to offer my federal loans a settlement.  Will they accept this to settle the whole debt owing.  Possible 60-80% of the balance?  I spoke with the Provincial Loans and they said they can offer a settlement of about $300 less but that the federal loans won't budge at all.   Why is this?  Who should I be speaking to about this at the govenment offices to make an offer?  I would give the a settlement today if they accepted it.   What is the difference between federal and provincial loans.  Honestly if they accepted settlements they would receive alot more of their money than making all of us rot in credit problems waiting for the full balance.
 
Please help me.  What are my options?
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Also, when I spoke to my collection agency they said when they return my loan back to the federal government that they will make a jusgement against me and garnish my wages.  If I wait until this point will it be possible they will offer me a settlement if I threaten them that I will claim bankruptcy when I am at 7 years?
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