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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lmbsc View Drop Down
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    Posted: 27/June/2013 at 12:34pm
Cbv collections contacted last week about an old student loan from RBC through the osap program. They claim that I owe them $14336.16 and demanded payment. I called up RBC student loan and asked them for documents to support this claim because I thought it was paid back already. I went through a company called credit canada debt solutions. I also had my tax return taken by the CRA.

CBV sent me documentation of a student loan however, I'm a little confused looking at it. The online branch banking history report they sent me to show transactions on the account, I'm assuming; show an account number at the top which everything matches the account that CBV says that they are collecting for EXCEPT for the last 3 digits. The documents they sent me show accounts going up to (last 3 digits) 012 but the account they are trying to collect on ends in 014. Also the records end in 2002 but they are saying that the account was last active in 2007?

My question is, have they provided me with the proper information and I'm just reading it wrong or should I be asking for for documentation? It doesn't seem like I can validate things with what they sent me. Any advise would be much appreciated.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 28/June/2013 at 11:58am
If your taxes were taken by CRA then you have a federal loan or provincial in recovery. Or, both. THat has nothing to do with RBC.
 
There may be a limitation issue here as well.
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 lmbsc Quote  Post ReplyReply Direct Link To This Post Posted: 29/June/2013 at 7:15am
Thank you for the reply. Does anyone know if the bank shared risk portion of OSAP from 2000 are stat barred or does it have no limitations because it is a student loan. CBV tells me the latter of the two. I am not trying to not pay this back but neither RBC or CBV are being very helpful in trying to figure this mess out.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 29/June/2013 at 12:50pm
CBV and RBC will not tell you that it is stats barred even if it is. They have no interest in doing so and would mean they would not get their commission.

Best to get John Leblanc at CFWGRoup.ca  to look into this and do an assessment.
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