VANCOUVER, Nov. 27 /CNW/ - The Coalition for Student Loan Fairness has
released its first political cartoon, drawing attention to the hundreds of
millions of dollars in interest revenue the Canada Student Loans Program
(CSLP) is pocketing each year on the backs of struggling borrowers.
The cartoon, drawn by the renowned American artist, Joe Jahraus, depicts
the CSLP shaking down a borrower for more student loan interest; it is
available for download from the Coalition's website at:
According to official Treasury Board figures recently uncovered by the
Coalition, the CSLP raked in $315.7 million in interest on loans in 2005/06,
and forecasts additional interest revenue of $445.3 million in 2007/08 - by
2009/10, they expect to collect $549 million annually. Coalition spokesperson
Julian Benedict says "The government is cashing in on the very same borrowers
who only qualified for student loans on the basis they were lower income
Canadians - the poor pay more."
Canada's 990,000 student loan borrowers demand that the federal
government significantly reduce or eliminate interest on student loans,
establish a national student loan ombudsperson, and improve stingy Interest
Relief and Debt Reduction in Repayment programs.
For further information:
For further information: Julian Benedict, CSLF, (604) 728-2067,