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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betaraybill View Drop Down
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    Posted: 21/May/2013 at 4:28am
Hello All,

I have an outstanding Nova Scotia student loan from 2003. Right now it stands at around $6000. I have never made a payment or acknowledged the debt. Until recently I've been content to let the government garnish my income taxes and GST cheques and apply that (approx $1200 per year) towards the debt.

Recently I received a letter from Service Nova Scotia & Municipal Relations stating that if the debt is not paid back immediately they could seize my bank account and garnish my wages. I don't have a bank account and get paid by cheque. If I continue to ignore these letters (2 in past 8 months) will they take action or is this just posturing on their part? And if they do take action can they actually do anything where I don't have any assets and get paid by cheque?

Bill
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philbain View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote philbain Quote  Post ReplyReply Direct Link To This Post Posted: 21/May/2013 at 4:17pm
In my experience in BC they follow through, so best to deal with it. Johnny and th team from cfwgroup helped me. If the CRA issues a judgement against you and attains it in court then they can clean out your bank accounts and garnish your wages...and they will if you are uncooperative.
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coreyclark315 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote coreyclark315 Quote  Post ReplyReply Direct Link To This Post Posted: 27/May/2013 at 7:15pm
In my knowledge they have the authority to make your loan default and this can affect the financial record. Then you will not be able to get loan assistance in future and also you have to face additional interest charges on your loan. It might be possible that you will face some legal actions also.
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