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 LockedInterest relief ran out, please help!!

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    Posted: 12/May/2008 at 9:04am
Hi I have 2 loans, Canada-Newfoundland and Labrador Integrated Student Loan and a Canada Student loan from RBC.  I have been applying for interest relief because the 2 payments equal about $400.00 / month.  Funny thing is  on my Can-Newf loan i have interested relief until sept 08, but i just got a letter in the mail today for the Canada loan stating "you have received the lifetime maximum of 54 months of interest relief.  Please note that your RBC student loan is currently past due in the amount of $230.00.  Please bring your account up to date."  My wife and i Make 3660.00 per month Gross" and with 1 child of our own and me paying child support for a past relationship, car payment, rent, electricity etc... there is no way i can affford to pay the amount.  I  am afraid that my account will go into default.  Can i apply for Debt reduction? Do i have any options to extend the interest relief?  Please Help
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worldfamous View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote worldfamous Quote  Post ReplyReply Direct Link To This Post Posted: 13/May/2008 at 8:47am
I will also mention that this was when i went to college and finished in 2000.  After that i decided to go back to school and pay for my own way.  I graduated in sept. 2005.  I called RBC collections today and the girl on the phone, Melene,  said that the only options available to me are a revision of terms or to apply for interest only payments for 6 months of the year.  She said i would get the 2 separate forms in 3-5 business days and that it would be up to me to choose which form to go with....  If i cannot apply for debt reduction, these are my only 2 options and i am not sure which is better
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