Suggestions for Improvements for Student Loan Programs

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My Situation

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=4773
Printed Date: 26/March/2026 at 8:48pm
Software Version: Web Wiz Forums 12.07 - https://www.webwizforums.com

Topic: My Situation

Posted By: thundercat
Subject: My Situation
Date Posted: 09/March/2008 at 8:59pm

I would love to hear peoples suggestions or feedback on my situation. Frankly, I am not sure where to turn on this one.

I defaulted on my loan, after attempting to sign up for interest relief (7 tries) Each time there would be a piece of information missing, even tho it was all in the same envelope.

Anyway, this past fall I wanted to go back to school to finish my courses, I spoke to the canada student loan people, the collection agency who deals with the matter. They both informed me of the rehab program. Both told me if I made 6 consectutive monthly payments, they would send it back to the govt for interest relief or a possible another loan.

I followed the payment system as I was told. After my 6th payment I heard nothing from anyone, few months later I got calls again from the agency. Apparently they never processed anything, never sent my file anywhere and then wanted me to restart the 6 payment process again.

I cannot find any information on what I can do..I then had to drop out of my course, I'm stuck for a semester of tuition out of my pocket because they lied.

Replies:

Posted By: SolveStudentDebt
Date Posted: 10/March/2008 at 12:28am

This is a serious service center trend, and it applies to call centers and other related outsourcing projects. You see, your application was probably misplaced (or lost) in the shuffle. They just can't tell you that they misplaced it because it would reverberate back to their client, so they tell you that you have not supplied sufficient information to pass the error off as your own doing. If they were to tell you that they misplaced or lost it, then they are ccountable for their error - and if you default as a result of it (which you did), they are accountable to you - and their client. The student loan administration has to start realizing tht mistakes like this affect a person's life. They are not a call center that is telemarketing communications products or credit card insurances. They are responsible to nurture and protect the Canadian economy and it's students if you look at it from the larger scope.

What you are describing is a clear image of the student finance system's failure. Unfortunately, you have to prove that they blundered. If you can do that, then they are accountable.

You need some help?

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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: thundercat
Date Posted: 10/March/2008 at 8:27am

That will be the hardest thing to do is prove they didn't come through. I know working for a leading American cell phone company our motto is pretty much "sorry you were mis-informed". All I pretty much have is who I spoke to, who approved the deal, when the deal was made kind of thing. I also, spoke with my college student loan officer many times on the situation and her advice.

Posted By: SolveStudentDebt
Date Posted: 11/March/2008 at 4:02am

Three important rules:

When you send something to a student loan service provider, make sure that you keep a fax transmission report. some fax machines actually scan the document that was faxed and the report is imprinted on it. THey cannot deny receiving it with this proof. also, if you mail in inportant documentation and income verifications,send this by registered mail if you can,. They have to sign for it - and they cannot say they did not recieve it if they signed for it. If you are talking with them, find a way to record conversations. They cannot say that they didn;t say this or that when you have them on the record saying this and that.

Posted By: thundercat
Date Posted: 11/March/2008 at 12:58pm

One thing I'm curious about actually is, at the start of my loan I owed roughly 10k, I've paid close to 4k over the last few years, and I still owe 10k.. can NCO actually add monthly interest?

Posted By: SolveStudentDebt
Date Posted: 12/March/2008 at 3:57am

NCO simply calculates the interest for their client (your loan provider). This is something that your loan provider is realyl responsible for. NCO is just doing what they are told to do. That is all debt collectors do, which is what they are told to by their clients and management people.

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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