The total value of student loans owed to the Canadian government will surpass $15 billion this month, according to a regulatory changed filed by HRSDC Minister Diane Finley. Last month, the Governor General approved Finley's request to change the method of calculating the amount of outstanding student loans. "As currently calculated, the legislated ceiling of $15 billion in outstanding student loans, as specified in section 13 of the Canada Student Financial Assistance Act, is expected to be reached in September 2010," the minister wrote. "Addressing Canada's student debt crisis requires a national strategy to reduce tuition fees, not an administrative change to hide the level of student debt," says CFS's national chairperson.
CFS News Release
