OTTAWA, Sept. 21, 2011 /CNW/ - Students are calling on the federal
government to release this year's data on student debt, which they
expect to show that student debt has surpassed what HRSD Canada is
legally allowed to loan. The data, normally released annually in the
actuarial report of the Canada Student Loans Program, is usually
disclosed before the beginning of each school year.
"The government cannot continue to operate without a plan to tackle
growing student debt" said Roxanne Dubois, National Chairperson of the
Canadian Federation of Students. "We anticipate this report will reveal
record-high student debt, the product of tuition fees hikes increasing
at more than double the rate of inflation."
In its 2010 actuarial report, the Canada Student Loans Program predicted
that student debt would not surpass a legislated ceiling of $15 billion
until 2014-15. Despite this, student debt surpassed the ceiling by an
estimated $300 million last year, causing the federal government to
invoke regulatory changes to the Canada Student Financial Assistance
Act. The changes artificially lowered total national student debt
figures in order to continue issuing new loans to students.
"Breaking last year's student debt record is symptomatic of an
underfunded public education system reliant on more and more private
funds in the form of user fees," added Dubois. "Without a national
strategy for addressing the student debt crisis, Canada will be
bankrupting the next generation."
The new report is expected to reveal details of the government's latest
student debt estimates. The Canadian Federation of Students has made
proposals to reduce student debt through lower tuition fees and more
generous Canada Student Grants.
The Canadian Federation of Students is Canada's largest student
organization, uniting more than one-half million students in all ten
provinces. The Canadian Federation of Students and its predecessor
organizations have represented students in Canada since 1927.
SOURCE Canadian Federation of Students
For further information:
Roxanne Dubois, National Chairperson, office: 613-232-7394, mobile: 613-816-7486 email: email@example.com