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 after bankruptcy (and CIBC NSLCS)

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kenneth View Drop Down
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Joined: 17/July/2009
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    Posted: 17/July/2009 at 1:02pm
Hello,
 
I have 3 student loans, 1 being held at the main NSLSC, the other 2 at CIBC.
 
I am declaring bankruptcy on debts other than my student loans.
 
My question is: after I am discharged from the bankruptcy and catch up on interest payments, can I apply and receive another student loan?
 
I received a letter from CIBC today (acknowledging my bankruptcy) and stating they will seek repayment of the entire student loan after I am discharged.   Does this mean they will not put the loans back into interest free status if I return to school full time?
 
Thanks for your help!
Ken
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Buff View Drop Down
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Joined: 15/July/2005
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Buff Quote  Post ReplyReply Direct Link To This Post Posted: 18/July/2009 at 4:58pm
Are your CIBC loans in good standing? If they are, they should go interest-free when you go back to school, provided that you hand in the paperwork and it doesn't disappear into their black hole and be forever lost.
 
You can apply for more loans, but I doubt you'd get anything for a long time. Some (or maybe most) provinces are now doing credit checks on student loan applicants. I think your bankruptcy would scare them off.
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