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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danny View Drop Down
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    Posted: 01/February/2004 at 10:41am
what do i need to qualify for debt reduction ?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 01/February/2004 at 10:55am

 

 danny,

 You would have to be in a severe long-tern financial crunch, and be able to fully substantiate this. Usually, people who are permanently disabled after the fact, or have been subdued by other crisis that disable one from paying. There is a lot of criteria involved in this procedure.

 It depends on yoru partucular situation. The governments try as hard as possible to discourage people from diipping into this benefit.

 Johnny

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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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 01/February/2004 at 11:06am

 

 danny,

 Here is a section of the act that relates to disability and hardship...

 

Permanent disability of borrower

13. (1) Where the Minister is satisfied, on the basis of prescribed information provided by or on behalf of a borrower, that the borrower, by reason of permanent disability, is or will be unable to repay a guaranteed student loan without exceptional hardship, taking into account the borrower's family income, all rights of any lender against the borrower in respect of that guaranteed student loan terminate, and the Minister shall pay to any lender whose rights against a borrower are terminated under this section the amount of principal and interest determined in prescribed manner to have been payable by the borrower at the time the borrower provided the Minister with the information required under this section.

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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Post Options Post Options   Thanks (0) Thanks(0)   Quote whydidibother Quote  Post ReplyReply Direct Link To This Post Posted: 02/February/2004 at 5:05am

One thing(there are many)that irks me about debt reduction is it is also based on your spouse's income as well. Why involve my husband in my loan when I didn't even know him when I took it out? His income of course puts me over the limit for debt reduction(I think gross income has to be $22,000 and under or something like that?) Not to mention the fact that my student loan is behind so they told me I can't apply anyways until I catch up. Has anyone ever applied and received debt reduction. Everyone I know either has a household income over the limit or is so far behind in payments that they don't qualify.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote markomeara Quote  Post ReplyReply Direct Link To This Post Posted: 02/February/2004 at 7:28am
Note: the regulations for debt reduction are changing.. check the canlearn site for updates. This was changed in last years budget but of course, a year later its not even implemented...

Mark
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Post Options Post Options   Thanks (0) Thanks(0)   Quote danny Quote  Post ReplyReply Direct Link To This Post Posted: 12/May/2004 at 9:30pm
would like qualify me: 32k in the hole , single, criminal record , and i made 1500 bucks in the last ten years(not including student loans)
Johnny save me!!!!!!!!!!!!!
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