Students Recommendation of Task Force on Financial Literacy

OTTAWA, Feb. 9 /CNW/ - Today, Minister of Finance's Task Force on Financial Literacy tabled its report recommending a financial literacy component be included in the Canada Student Loans Program. The report drew on research conducted by the Canadian Alliance of Student Associations (CASA) in its 2010 publication, The Illiteracy of the Literate: The Lack of Financial Aid Knowledge among Canadian University Students.

CASA is pleased to see the Task Force include CASA's call for simple information to improve students' literacy regarding financial aid in Canada. Part of the way to help students navigate the student loan system is to increase their knowledge of how it works, but another part is to make student loans as simple as possible.

"Canadian governments have a responsibility to ensure that any Canadian, regardless of age or financial background, has the opportunity to pursue PSE," said Zach Dayler, the National Director of the Canadian Alliance of Student Associations, "Key to achieving this is ensuring that Canadians have clear, accurate information on getting financial support for college or university, and ensuring those programs aren't overly complicated. You shouldn't need a law degree to navigate the student loan system."

The Canadian Alliance of Student Associations hopes the government will take the recommendations seriously and is encouraged by the task force's effort to move financial literacy forward, but reminds all governments that there is also a responsibility to make government programs simple and easy to understand.

The relevant section of the task force's report, Canadians and Their Money: Building a brighter financial future: http://www.financialliteracyincanada.com/eng/report/report-008-eng.html#gcp

CASA's report on student financial literacy, The Illiteracy of the Literate: The Lack of Financial Aid Knowledge among Canadian University Students: http://www.casa-acae.com/wp-content/uploads/2009/10/Canadian-Student-Survey-The-Illiteracy-of-the-Literate-June-2010.pdf

The Canadian Alliance of Student Associations (CASA) is a non-partisan, not-for-profit national student organization composed of 26 student associations, representing over 320,000 students from coast to coast.

SOURCE CANADIAN ALLIANCE OF STUDENT ASSOCIATIONS

For further information:

For more information or to arrange an interview, please contact:
Marianka Charalambij, Public Relations and Communications Officer
Canadian Alliance of Student Associations
Tel.: 613-236-3457 ext. 224 (c) 613-407-6420
Email: casacomm@casa.ca

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