Where is the CFS on Student Loan Reform???
Printed From: CanadaStudentDebt.ca
Category: What Needs to Change?
Forum Name: Suggestions for Improvements for Student Loan Programs
Forum Description: Make suggestions for rule changes etc
URL: https://www.canadastudentdebt.ca/forum_posts.asp?TID=4167
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Topic: Where is the CFS on Student Loan Reform???
Posted By: pogorelichfan
Subject: Where is the CFS on Student Loan Reform???
Date Posted: 17/March/2007 at 12:34pm
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I've been looking around the internet for information about preparation for the 2007 Federal Budget, and I found this backgrounder for the CFS, which says it will be ready to speak after the federal budget is tabled next week.
It is interesting, however, that student loan reform does not seem to be addressed anywhere! There is reference to more student grants, which would, of course, reduce loan amounts, but I don't see our issue(s) being addressed.
I think we have much work to be done to ensure the CFS thinks more about students who have GRADUATED as well as those who are currently in the process of post-secondary studies....
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BUDGET 2007 BACKGROUNDER
POST-SECONDARY EDUCATION FUNDING canadian federation of students Federal Funding Cuts: Government funding cuts to post-secondary education have caused a dramatic drop in real per-student funding. It will require a funding increase of at least $2 billion to return to 1992 levels of federal funding for post-secondary education.
“I would prefer a tuition fee reduction to a 1% GST cut” Broad SupportAffordable post-secondary education is a key issue for Canadians. In a poll conducted by Decima for the Canadian Federation of Students and the Canadian Association of University Teachers, post-secondary education was the most important priority for Canadians behind healthcare and the environment, placing it well ahead of the military and the national debt, two priorities of the Conservative government. Canada’s Premiers met on February 7 to discuss matters of mutual concern, among whichfederal transfers for post-secondary education was a top priority. The Council of Ministers of Education wrote an open letter to HRSD Minister Monte Solberg on March 13 regarding the need for federal reinvestment in post-secondary education. It is also widely believed that Prime Minister Stephen Harper could make new funding for post-secondary education part of the 2007 federal budget in an attempt to address the “ fiscal imbalance”.canadian federation of students Decima Televox October 26–November 5, 2006 Student Debt: Students today aredeeper in debt than they have ever been before. In fact, average student debt has more than doubled in the last 10 years. Tuition Fees : In 1990, governmentsacross Canada started increasing tuition fees at dramatic rates. Even with recent tuition fee freezes and reductions in some provinces, the average student today is paying more than twice as much as students did in 1990. canadian federation of students |
Replies:
Posted By: old hippy
Date Posted: 19/March/2007 at 9:36am
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Hi pogo,
Much work to be done to ensure that the government also thinks more about students who have already GRADUATED....My worst nightmare is becoming a "lesson learned" for the benefit of the next generation. Sounds a bit selfish maybe, but I'm entitled to a life as well. We all are. And we're still here...
old hippy
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Posted By: frustrated-guy
Date Posted: 19/March/2007 at 12:03pm
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Hi Hippy,
unfortunately it appears to me that our issues are not even on the government's radar
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Posted By: Buglady
Date Posted: 21/March/2007 at 4:10am
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Hi Pogo, I confess to having a bit of a grudge against the CFS that dates back to their 1995 position on income contingent loan repayment, so I don't have a lot of hope here... Cheers, Kim |
Posted By: pogorelichfan
Date Posted: 21/March/2007 at 8:42am
Common now, cheer up guys!
Just because the CFS isn't on side doesn't mean we can't make changes. The problem is simply this: organizations like the CFS are 99 percent philosophy and only 1 percent realpolitik. They are well-intentioned and exist largely for the benefit, it seems, of existing students. Thus they seem to spend most of their time fighting for lower tuition fees, instead of a more wholestic approach, which would include looking at the issues impacting those already out of the system.
In any case, don't lose hope! We are presently working on a list of demands which will be developed on a website and target specific issues impacting us--not just existing students.
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Posted By: SolveStudentDebt
Date Posted: 22/March/2007 at 4:01am
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Canadian Federation "For" Students, or Canadian Federation "Against" Former-Students (?). I guess if you are no longer a student, the CFS doesn;t support you. ------------- Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting. http://www.solvestudentdebt.com" rel="nofollow - solvestudentdebt.com |
Posted By: pogorelichfan
Date Posted: 22/March/2007 at 5:40am
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I must say I found the organization to be quite disfunctional. On the one hand, they spend all their efforts organizing protests in February against tuition fees, but little energy on much else.
The CFS is, I believe, run my a bunch of militant characters, who, while well-intentioned, end up becoming a lobby group for a very narrow cause.
Former students, I suppose, become little more than part of the 'establishment' employed types!
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Posted By: frustrated-guy
Date Posted: 22/March/2007 at 6:10am
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Hi pogo
I agree we need changes I think income contingent repayment is the way to go, in the short term those of us in default in repayment should be allowed to make a payment of 1% of principal
I think we need to get the CFS and CASA on side as they are more likely to get an audience with politicians than us. Any ideas how to get these student associations on side as far as income contingent repayment?
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Posted By: frustrated-guy
Date Posted: 22/March/2007 at 6:17am
| Pogo, I think we need to influence this review of hrsdc that is going on. Question is how to be noticed and not ignored? |
Posted By: old hippy
Date Posted: 22/March/2007 at 9:31am
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I think it's the interest. I can't touch my loan principal because the interest is so high....and if I let it go, it just keeps growing and growing...
A cool way to be noticed would be to get all the facts and figures together and prove that the student loan program is actually making money and not just generously handing out millions of dollars to support starving students, as they would lead the voters to believe. They are creating starving graduates instead...and profitting?
Apologies...I suffer from a little 'depressive reality' from time to time.
hippy
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Posted By: Debt_swimming
Date Posted: 22/March/2007 at 8:28pm
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may I respectively suggest forming a organization of former students linked in some way through or to CFS? Sole goal and purpose to support former students in dealing with the issues, personally I am just getting started in dealing with my loan issues. But I definitely see the need for advocacy. We need to get at least one or two MP's who are sympathetic to understand and take on the cause. That would at least be a beginning. On premise, I have absolutely no moral issue paying for my education but to see banks/private lenders/or the government getting rich off students in any way is absolutely revolting. And I am personally trying to do this with a family in tow and it is certainly not an easy/straightforward/or fair process! Futher, I have seen both sides of the coin, my wife had been on welfare in past and we worked from nothing to get where we are. But I certainly see how having student loans could result in a standard of living lower than a person on Social Assistance.
I am completely willing to put time into forming this, but it will require more than just one person, I am afraid.
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Posted By: Buglady
Date Posted: 23/March/2007 at 3:59am
Took me quite a while to get to that "establishment employed" step... it also took an out-of-province move and a decision to completely abandon the field I spent so many thousands of loan $ training in (Biology). CFS needs to focus some of its energy on helping students find realistic career information that would help us after graduation.  Studenthood is a step in life, not a goal in and of itself.
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Posted By: Buglady
Date Posted: 23/March/2007 at 4:05am
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Re: CFS positioning - I've been out of the system for a while so I don't know how new loans are being processed, but what about some work on streamlining the system so that loans can be consolidated in one place, the repayments calculated based on total loans AND income of the student (rather than four separate loans setting their repayment terms independently and taking 50% of my take home pay at one point), and clarification of the loan remission/forgiveness incentive programs. Those are all things that have tripped me up! My loan interest is currently something like $6 a DAY. Talk about depressive reality. |
Posted By: Debt_swimming
Date Posted: 23/March/2007 at 3:55pm
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My daily interest on my NSLSC canada integrated student loan is around $30 per day. Comments on advocacy need?
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Posted By: SolveStudentDebt
Date Posted: 24/March/2007 at 12:03am
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If your loan repayment took 10 years, you will have paid $108,000 in interest. This means you would owe roughly 107,000.00 in loans.
Are your loans in default? Are they in good standing? What is your financial position right at the moment? Are you on interest only right now?
Need more than this to make an assessment.
Johnny ------------- Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting. http://www.solvestudentdebt.com" rel="nofollow - solvestudentdebt.com |
Posted By: Debt_swimming
Date Posted: 24/March/2007 at 6:29am
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Johnny,
If you are refering to me. My loans are in good standing, not in default yet. I am working and my wife is on mat leave, but both my wife and I have loans as she went to school as well (at the same time as I did, but I continued and did a grad degree). We are continuing to repay hers -- I am the one applying for interest relief from the other thread and having difficulty with the Interest Relief Tables stopping at $1400. My loan balance is ~100,000 for all loans combined. (I misquoted and should have said all loans totalled 30/per day)
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