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 LockedConsumer Proposal Coming to an End

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normmac View Drop Down
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Joined: 26/August/2009
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    Posted: 26/August/2009 at 3:19am

My consumer proposal will be coming to an end in June 2010.  The majority of my debt was Student Loan Debt.  From reading through the forums, I like most others, was given very little information about what will happen after the proposal was complete.  I was given the impression by the Trustee's office that there is a chance that when the proposal is complete that could be the end of my saga!  From reading this site and now some four years later I am beginning to worry about what lies ahead.

A little background.  I graduated in 2001 with a debt load of about 36, 000.  I had been accessing interest relief because I was making about $10 - $11 an hour and could not afford the payments.  Because I was paid 3 times in the month before my relief was to be renewed it looked like I made more than I did and was denied.  Being young and stupid I did not look into any options and just decided to ignore them (Royal Bank and CSLSC).  After collection agencies threatened me and again being young and uninformed, I filed for a proposal which was sold to me as the end of all my problems.
 
Fast forward to today.  I am lucky enough to have found myself in a position today where despite the proposal I make a good living, was able to purchase new vehicles, albeit being 31 years old and having to have my father co-sign!!  I find myself with the ability to afford a new house and such but can't becuase of the proposal.  I am in a position to make any necessary payments that could arise, although not in full.  I am seeking advise as to what I should do to prepare myself for life after a consumer proposal.  What should I be doing now to ensure that I have the best possible outcome when it is finished.  I do not want any surprises come June of next year and would rather deal with anything that may come up in advance.  I appreciate any advise/feedback/help!
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Iknowalotofstuff View Drop Down
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Joined: 29/September/2008
Location: Chatham, ON
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Iknowalotofstuff Quote  Post ReplyReply Direct Link To This Post Posted: 19/December/2009 at 5:05pm
What is your end of study date?

If you made your consumer proposal at least 7 years from your end of study date (not 10) and your certificate of full performance is issued after July 7, 2008, your student loans will be subject to discharge.
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normmac View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote normmac Quote  Post ReplyReply Direct Link To This Post Posted: 22/March/2010 at 3:21am
I graduated in May of 2001 and my proposal began in July 2005.  With that being said, I am of the understanding that my loans will not be discharched and the someone - specifically who I am unable to nail down - will be contacting me to collect the balance.  I am trying to prepare for that and trying to educate myself as best possible as to what to expect at that time.  Does anyone know if it will be the original lender's (in my case RBC and NSLSC) or a collection agency who will be looking for repayment?  The best case scenerio is that I can repay the lender's directly.
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