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 LockedHave no interest rate at all :)

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Staretz View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Staretz Quote  Post ReplyReply Direct Link To This Post Topic: Have no interest rate at all :)
    Posted: 18/October/2006 at 8:35am

1.  no interest rate on the loan, which i suppose would make it a grant rather than a loan

2.  tax deduction on the payments. maybe at the current 17% or whatever it is for interest payments on student loans.

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Teri Smith View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Teri Smith Quote  Post ReplyReply Direct Link To This Post Posted: 23/February/2007 at 4:27pm
I agree with no interest rate. Have you ever noticed that the poorer you are the more people want to take from you? If you fall into hardship, the credit company will increase your interest rate, really not helpful is it? The government should be happy that the return they get on helping students get their education is a more productive and healthier population.
 
Teri
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pogorelichfan View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote pogorelichfan Quote  Post ReplyReply Direct Link To This Post Posted: 24/February/2007 at 5:44am
It seems to me that making us pay back the cost of our education is enough; no need to hit us over the head with nearly 10 percent interest!
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ChumbaWumba View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote ChumbaWumba Quote  Post ReplyReply Direct Link To This Post Posted: 10/July/2007 at 3:40am
 I totally agree about the interest rate. I'm still paying my loan after 11 years, during which I have never defaulted. I have a mortgage, car and excellent credit.  I called today to see what the interest rate is and what I needed to do to get it lowered.  FRUITLESS.  She actually had the nerve to tell me I needed a GUARANTOR to move the interest rate down .5%!!!! 
I cannot believe the government is allowing the banks to financially rape students in this country. We need an educated population and yet they offer absolutely no decent programs to help students acheive.  Apparently, you should only have the opportunity of further education if you are wealthy. Isn't that special?
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