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 LockedStudent debt since 2006 and not living in Canada

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neo1042 View Drop Down
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    Posted: 06/December/2012 at 12:09pm
Very interesting and helpful forum. Thanks for putting this together. 
I got $15k student debt from OSAP in 2005, graduated in 2006, but since the job market was so bad, I couldn't find any job in Canada and left the country in 2006. I haven't been able to pay my debt and I've been getting all sorts of collection calls and mails over the years. I tried to settle my debt couple of times but that didn't get anywhere. I am still living outside of Canada and don't have any asset or money in Canada or intention or come by in near future. Canada Revenue Agency called me today and left me a message that is very important I call them back till end of the day tomorrow. What could be the reason for giving deadline to call back? 
I'm grateful to Canada which helped me finishing my study (even through I couldn't find a job), and I'd like to return back the debt, but I cannot afford it. Given that I am not living in Canada, what are my best options to negotiate for a settlement. Revenue agency would definitely benefit by settling my debt since I don't have any income they can deduct from automatically. What are my options to get a reasonable settlement with them? How should I start? I live in Asia and my income is very low, but I'm willing to return the favor in the best way I can. I would appreciate any comment or feedback.

Thanks, 
Neo
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 07/December/2012 at 9:35am
I would be cautious most certainly. CRA is suing a lot of student loan borrowers as of this year (and late 2011). THey are ramping up the recovery strategies to secure the best interest of the Crown. Hard to say what they are doing in your case. They could be just looking to connect and hopefully gain an acknowledgment that would either reset a limitation clock, or revive the debt in the event it is barred. Again, hard to say.
 
If they are suing you, then it is something you should address with professional help. The CFW Group specializes in these mediations with Justice Canada and the office of the Attorney General.
 
Do you need to talk with one of us here?
 
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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