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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    Posted: 07/October/2009 at 6:43am
Angry  I am tempted to sue CIBC.  They sent my loan to NCO collections for the time I was on interest relief.  Now I am in the process of trying to get it out.  Help Help Help Any suggestions?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 07/October/2009 at 1:29pm
You need to escalate this issue as high as possible..... otherwise it will wreak havoc on your credit bureau etc...
Are you dealing with NSLSC or CIBC? 
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Mark OMeara
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https://LaughSingWrite.com - http://bit.ly/heal2024
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Post Options Post Options   Thanks (0) Thanks(0)   Quote paulaffleck Quote  Post ReplyReply Direct Link To This Post Posted: 07/October/2009 at 2:03pm
Talk to a lawyer who does civil litigation.  After that, you won't feel tempted anymore - unless you are willing to spend double what you might get, on the process of getting it.  Litigation is just a great way to feel REALLY disappointed and disillusioned.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 07/October/2009 at 5:27pm
I echo what Paul says... with  6 years of experience running the site,  lawyers have been very ineffective in resolving student loan issues....    and I tried to sue once for fraudulent misrepresentation of my masters degree..... they changed the description, and some professors have privately apologized to me and admitted that they should never be marketing it as a two year program, but the justice system was useless.  I talked to three lawyers... two said it would take 60K just to get it to court, and another 80k when they appeal it.  I ended up suing in small claims court but the process just got frustrated... and the lawyer who was to show up cancelled two days before the hearing and forgot to tell me to wait till I was clear of my bankruptcy before filing the small court claim.... bankrupts cant sue....
 
So yes, go after CIBC to make sure your issues are dealt with, but I found standing on the sidewalk handing out BOYCOTT CIBC flyers far more effective :)  but they're such a dsyfunctional company that it had little effect at the time.  Finding out the hotel where the CIBC president was staying during their annual shareholders meeting and having everyone on the site phone him to leave a message to fix their problems may have had a bit of a ripple.... 
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Mark OMeara
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