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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1stepforward2bk View Drop Down
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Joined: 17/November/2003
Location: Canada
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    Posted: 22/August/2007 at 7:36am
Hi. I was hoping that someone could give me some advice....My husband has an Ontario Student loan that is in collections with Nova Alliance One.  He had been making regular payments to them consistently with no problems until he was unable to make a few payments.  
 
The other day he received a letter from CRA saying that they "may" be taking his income tax returns.  We have confirmed with CRA that there is a set-off on his account.  Is anyone aware of CRA's bureau reporting habits?
 
Nova has given him a settlement offer and promised that if he pays it, it will not appear on his credit report. 
 
My husband is willing to ask his parents to cosign a bank loan to pay this off because we have been preapproved for a mortgage and if his credit is ruined over this, we will never get out of the spot we are in.
 
I have adviced my husband to get this all in writing and the C/A had agreed to fax him a letter. 
 
Is there any way this can backfire?  Is there anything we need to do that we aren't doing?  I will not be able to live with myself if I find out after the fact that we went about this the wrong way and that we could have prevented something that would potentially ruin all our plans for the future.
 
Johnny- do we need you for this or can we navigate through this one on our own?
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