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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kasha View Drop Down
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Joined: 03/June/2004
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Post Options Post Options   Thanks (0) Thanks(0)   Quote kasha Quote  Post ReplyReply Direct Link To This Post Topic: Question! Please help
    Posted: 11/August/2004 at 12:56pm
(I posted this in another forum as well)
Hello! 
I came across this site and it’s been great to know that there are others that are in the same boat as me. We need to keep sharing our stories and continue to support each other through this process. I have about $30,000 of debt and about $8,000 of it is with Canada Student Loans and the rest of it is with a bank. I applied for interest relief through the NSLSC, I had it approved the first time and so the second time I applied I thought things were going to be ok. The bank approved me for interest relief (I have the documentation) and so I didn’t call back NSLSC (my mistake) to confirm (but it was a stressing experience I wanted to avoid). When I called to re-apply 5 months later, it turns out they hadn’t approved me and my loans were in default for 5 months. So after much haggling and inconsistency of being told what I should do and what paperwork I needed to send and what I had to pay, I was approved for interest relief.  But I know my loans were in default and that it has an adverse effect on my credit rating (I had restrictions when getting a cell phone). I want to dispute and get them to clear up my credit rating, but they are going to say it’s the bank’s fault for putting me on interest relief without their approval.

My question is this: if I push the dispute and it is the bank’s fault, would the bank get me to pay the back payments of the months that they mistakenly put me on interest relief? I can’t afford it at this point (hence the reason why I’m on IR). But I also don’t want to leave my credit rating as it is without acting on it. Should I wait until I have enough money to cover me if the bank does ask me for back payments (would take awhile) or would they just chalk it up as their mistake? Thanks so much for your time and any assistance.
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eshelton View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote eshelton Quote  Post ReplyReply Direct Link To This Post Posted: 04/November/2004 at 5:52pm
Sometimes these posts get lost for one reason or another, so I'm going back and putting these forums back on the 'active' list.

I'd look at why the bank accepted you and the NSLSC did not.  I would think they are using the same formula set out by the government.   Hopefully, the NSLSC was wrong and they owe you big time. 

Get ALL documentation including the breakdown of the formula.  Find where the inconsistencies are and go from there.
"A proof is a proof. What kind of a proof? It's a proof. A proof is a proof. And when you have a good proof, it's because it's proven." - Jean Chretien
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