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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Forum LockedRAP eligibility critera changed, urgent help neede

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cohen View Drop Down
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    Posted: 01/February/2010 at 8:37am
My period of RAP has run out; my next payment is due this month and I can't afford it. But I should have been granted RAP until April 30th, not January 31st. Help!
 
Brief summary: I have Federal student loans from after 2000, province BC. I applied in November 2009 for what should have been months 25-30 of RAP, formerly Interest Relief. I received only 3 months of RAP, brining my total received to 27 months. On the phone they said I was only eligible for these 3 months. But shouldn't I have received 6 months, totaling 30 months?

Now I'd like to get the remaining 3 months of RAP. On January 26th I called NSTSB and learned that they changed the RAP eligibility criteria in mid-January, 2010. The maximum  gros monthly income for a single person is now $1684. I had previously been eligible with gros monthly income around $2000.

The woman I spoke with said my options were to apply for RAP, knowing I wasn't likely to get it. I could then revise my terms to a 15 year period which would reduce my monthly payments, but cost more in the long-run. If I still couldn't meet my monthly payments I could apply to pay only the interest. I understand these options, but am not impressed; I should have received an additional 3 months of RAP!

Is there any way I can receive the three remaining months of RAP that I should have been given in the first place, and despite the new eligibility criteria?

Thank you


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