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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overymyhead View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote overymyhead Quote  Post ReplyReply Direct Link To This Post Topic: loan has been defaulted :-)
    Posted: 13/July/2009 at 9:38pm
My loan has been defaulted and I now have to pay the Canadian government and the Ontario government separately ... Would this RAP plan still be available to me?? I am paying over 150$ in interest every month and can barely afford to pay my rent .. so this loan is like a hole that just keeps getting deeper and deeper... I don't want to claim bankruptcy.

Someone please help me! Is there anything I can do?
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Motorinn View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Motorinn Quote  Post ReplyReply Direct Link To This Post Posted: 13/August/2009 at 7:06am
I think your only choices are bankruptcy or consumer proposal. RAP won't help you. I haven't started repayment yet, but last week I spoke with someone at the nslsc on the phone, and she told me as much. 
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administrator View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 14/August/2009 at 7:25pm
Actually, it would probably be better to research further... you may be in default and have to pay the CRA, but  bankruptcy and proposals invoke a whole mess of rules and regulations...
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Mark OMeara
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https://LaughSingWrite.com - http://bit.ly/heal2024
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angi99 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote angi99 Quote  Post ReplyReply Direct Link To This Post Posted: 14/October/2009 at 6:05am
Initial consultations with bankruptcy lawyers are generally free and a great source of information about your options however. I have been dealing with student loan collections now for about 6 years - maybe longer - and the worst they have ever been able to do to me is take my income tax which is a pain in the rear but leaves me without my checks being garnished. Super frustrating when 11 years after you take out student loans they are still sending letters about "new" outstanding amounts and are currently charging me 198$ a month in bloody interest. I figure they can keep my bloody income tax but that is all they will ever get out of me - the goverment of Canada is nothing but a bunch of greedy loan sharkers anyways. Can't throw me in jail for playing with them. I am btw now about their WORST client. You should hear them stammer when you ask the person telling you to borrow the money when you say fine "how much can you lend me??"! The one who I asked for her address so I could deliver the check to her in person has never called me back either.... lol. If they are going to harrass you anyways, have a little fun with them!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote lalala Quote  Post ReplyReply Direct Link To This Post Posted: 14/October/2009 at 7:32pm
I love your attitude angi99 ...you go girl (or boy if that be the case).  Stick it to da man!
 
I do suspect some flaming coming your way though regarding your particular beliefs. 
 
Most people here believe they are morally obligated to keep feeding the phoney wizard pulling the levers.  I however beleive that our secondary education system has become a fraudulant for profit scheme.  I think that for acting like greedy, home wrecking little scrooges they deserve ...nothing.
 
I, however, loved reading the three posts you put up yesterday.  I only dispute one statement that you made ...the one about how you are their worst client. 
 
I am definitely their worst client. 
 
Buwahahaha...
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