OTTAWA, Feb. 11, 2014 /CNW/ - Despite better than expected revenue
projections, today's federal budget does little to make post-secondary
education affordable during a time of record student debt.
"Continuing to download the cost of post-secondary education onto
students is a short-sighted policy that will harm Canada's economy,"
said Jessica McCormick, National Chairperson of the Canadian Federation
of Students. "The 2014 budget proposes no solutions to the looming
student debt crisis and pays lip service to high youth unemployment."
The federal budget proposed no spending to alleviate the over $15
billion student debt carried by Canadian families, despite widespread
public concern about steadily declining affordability of post-secondary
education. With 384,000 young Canadians aged 20-29 unemployed in
January 2014, high student debt levels exacerbate an already precarious
situation for young Canadians. Budget 2014 attempts to tackle high
youth unemployment levels by offering loans to apprentices and funds a
mere 3,500 paid-internship opportunities for recent graduates. The 2014
budget contains no new student financial assistance measures to address
the increasing student debt loads burdening students and their
"Budget 2014's solution to high youth unemployment is to shackle recent
graduates and apprentices with even higher debt levels, while funding
internships for less than 1% of Canada's currently unemployed youth,"
added McCormick. "Reallocating wasteful investments from education
related tax credits and savings schemes into upfront grants for
students would greatly improve Canada's labour market by increasing
access to the skills training while reducing barriers to the education
and training Canadians need."
The Canadian Federation of Students is Canada's largest student
organisation, uniting more that one-half million students in all ten
provinces. The Federation and its predecessor organisations have
represented students in Canada since 1927.
SOURCE: Canadian Federation of Students
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