Ottawa urged to take action before it approaches student-loan ceiling

October 17, 2011

According to the 2010-11 Canada Student Loans Program Actuarial Report, federal student-loan debt will reach and exceed its legislated ceiling of $15 billion in January 2013. Without taking action, the federal government will legally not be allowed to loan any funding to students, states the Canadian Federation of Students, whose national chairperson says the only way forward is for Ottawa to respect the cap and begin converting some loans into non-repayable grants. Students will head to Ottawa next week to meet with parliamentarians to demand action from the government before student-loan levels breach the legal limit. CFS News Release | Canada.com