Online report questions federal student loans

November 6, 2007

Last week, "Canada Student Debt" released a 17-page report on Canada's student loan programs: "Canada Student Loans: The Need for Change."  The report includes "red-tape nightmares" of more than 6,000 Canadian students.  Federal student loans charge prime plus 2.5% -- higher than many commercial loans, argues the report's author.  Students are unable to file for bankruptcy within 10 years of completing their studies.  Students living in urban areas are unable to meet payment schedules that do not consider higher living expenses.