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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lilla View Drop Down
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Joined: 11/November/2004
Points: 2 		Post Options Post Options   Thanks (0) Thanks(0)   Quote lilla Quote  Post ReplyReply Direct Link To This Post Posted: 11/November/2004 at 5:45am

Johnny, thanks very much for your response, but I am specifically asking about the statue of limitations not the 10 years bankrupcy law.

Here is my story in a nutshell. I have not acknowledged anything in the past 5.5 years or so - before that time period I was damn stupid and uninformed because I kept paying large amounts on all my credit cards due to the threats of various collection agencies but hey I did it in good faith - to honestly pay my loan!! Well, honesty really paid off because it totally distroyed me financially.  I am STILL paying my credit card debt along with the 17.99% interest. In short, I payed back all my debt, ALMOST. Only a very small portion left, but now, I refuse to pay ANYTHING MORE towards this loan - they got a LOT MORE back what I got from them. principal + 12% interest!!! (That was back in 1994)

I went back to school full-time in 2001 (without OSAP) and I have not acknowledged anything since my last big visa payment in 1999. Can the 6 years statue of limitations apply to me in this case or the clock is re-set from time I graduate? 

I really appreciate your advice Johnny. 
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SolveStudentDebt View Drop Down
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Joined: 05/November/2003
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Points: 5996 		Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 11/November/2004 at 10:24am

 

 The limitation period is 6 years from the last payment or acknowledgment for Federal (Crown) debt. So, if you go to school on your own dime, that doesn't disturb the current limitation period at all. If you apply for more student loans, then that would constitute as an acknowledgment.

 You have to remember that there are different limitation periods for Provincial loans ie: OSAP, ASL, NSSL, BCSL, etc. For instance, OSAP has no limitation period that restricts them from collecting Ontario loans. I looked this up in the Limitiations Act in Ontario and it does stipulate that there are no limitations that restrict the Province of Ontario to collect money owed under OSAP.

 So, the answer to your question is no.

 

 

  
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
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Staretz View Drop Down
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Joined: 20/November/2004
Points: 120 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Staretz Quote  Post ReplyReply Direct Link To This Post Posted: 21/November/2004 at 11:08pm
Originally posted by Johnny Johnny wrote:

 

 Sunny,

 10 years from the day you finished studies. That is the bottom line. By going back to school, you reset the limitation period's clock.

 Johnny

 

O my f*cking god.  I am in worse shape than I thought.  Instead of having to wait until May 2007, I now have to wait until September 2008, which will be 10 years after I left a training program funded through ei.  So, do Student  Loans survive death as well?  I am wondering if I should just make hrdc my sole beneficialry an be done with it.
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momof2 View Drop Down
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Points: 792 		Post Options Post Options   Thanks (0) Thanks(0)   Quote momof2 Quote  Post ReplyReply Direct Link To This Post Posted: 22/November/2004 at 3:27am
student loans are discharged upon death....at least my kids wont be on the line for my loans.
professionals built the titanic but amateurs built the ark...
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KimM View Drop Down
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Points: 148 		Post Options Post Options   Thanks (0) Thanks(0)   Quote KimM Quote  Post ReplyReply Direct Link To This Post Posted: 22/November/2004 at 3:48am

Momof2, does that mean that if I were to die today, my little old house would not be used to pay the SL debt and my 14-year old daughter would be able to inherit it?  And if not, can I transfer the property into her name--doesn't she have to be of legal age and would this be allowed?  I am sooo stupid about these things...I don't even have a will made out..it seems I am always running to catch-up to life. Thanks, Kim
Nehemiah 5:7 Then I consulted with myself, and I rebuked the nobles, and the rulers, and said unto them, Ye exact usury, every one of his brother. And I set a great assembly against them.

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momof2 View Drop Down
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Points: 792 		Post Options Post Options   Thanks (0) Thanks(0)   Quote momof2 Quote  Post ReplyReply Direct Link To This Post Posted: 22/November/2004 at 5:26am

your house would be safe from sl debt.  any cash assets on hand at the time of your demise may be fair game.

i cant answer on the transfer of title stuff, i have no clue how that would work.  i think you can add her name to the title regardless of her age but it would be in trust and she wouldnt be able to sell it or anything until she was of age.

lord knows i aint no lawyer though so maybe google some of this stuff if you want definitive answers.  or call your local legal aid and aske thm about transferring title to a minor etc.
professionals built the titanic but amateurs built the ark...
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KimM View Drop Down
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Joined: 02/June/2004
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Points: 148 		Post Options Post Options   Thanks (0) Thanks(0)   Quote KimM Quote  Post ReplyReply Direct Link To This Post Posted: 22/November/2004 at 5:31am
Well, that is good news.  Thanks momof2.
Nehemiah 5:7 Then I consulted with myself, and I rebuked the nobles, and the rulers, and said unto them, Ye exact usury, every one of his brother. And I set a great assembly against them.

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danny View Drop Down
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Points: 176 		Post Options Post Options   Thanks (0) Thanks(0)   Quote danny Quote  Post ReplyReply Direct Link To This Post Posted: 23/November/2004 at 8:27pm
i took a course welfare based warehouse course at kwantlen college for four months in 2002 and yet they didnt disqualify me from interest relief they said it has to be credit courses
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