Ottawa , Ontario, September 7, 2007— Canadians will have an opportunity to share their views on how to best update the Canada Student Loans Program. Human Resources and Social Development Minister Monte Solberg launched on-line consultations as part of the program.
"Canada’s New Government is committed to creating the best-educated, most-skilled, and most flexible work force in the world," said Minister Solberg. "We want to hear a broad range of views from students, parents and others on how to best modernize, simplify and administer the Canada Student Loans Program."
The review of the program is underway in consultation with provinces, territories and stakeholders and was announced in the government's 2007 budget. The on-line consultations will run from September 7 to September 28, 2007.
In addition to the review, the government announced in the budget that the Canada Social Transfer for post-secondary education will increase to $ 3.2 billion in 2008–2009, which represents an increase of 40 per cent, the first substantial increase in over a decade. This additional investment of $800 million per year will help provinces and territories to strengthen the quality and competitiveness of Canada’s post-secondary education system.
As well, an increased number of scholarships will be available to graduate students through the Canada Graduate Scholarships program. Budget 2007 will provide $35 million over two years and $27 million per year thereafter to support an additional 1,000 students in pursuit of graduate-level studies.
Budget 2007 also introduced new measures to Canada’s Registered Education Savings Plans (RESP) to better meet Canadians’ educational needs by: eliminating the $4,000 limit on annual contributions; increasing the lifetime RESP contribution limit from $42,000 to $50,000; and increasing the maximum Canada Education Savings Grant annual amount from $400 to $500.
For more information about the on-line consultations, please visit the following
Web site: http://www.hrsdc.gc.ca/en/learning/canada_student_loan/form_en.shtml.
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Media Relations Office
Human Resources and Social Development Canada
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