QUÉBEC, QUEBEC, FEBRUARY 4, 2011-Post-secondary students in Quebec will benefit from increased Government of Canada funding to the province, the Honourable Christian Paradis, Minister of Natural Resources and Minister Responsible for Quebec, and the Honourable Josée Verner, Minister of Intergovernmental Affairs, President of the Queen's Privy Council for Canada, Minister for La Francophonie and Minister Responsible for the Region of Québec, announced today, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development.
The Government of Quebec will be receiving a payment of approximately $275 million for the 2009–2010 school year, which is an increase of $150 million compared to the 2008–2009 school year.
"Today's students will determine Canada's future," said Minister Paradis. "Making post-secondary education affordable and accessible for all Canadians leads to a stronger workforce and a prosperous economy."
"Today's announcement clearly demonstrates that our government and our provinces are working in the spirit of cooperation to achieve concrete results for youth in the greater Québec region," said Minister Verner. "In today's knowledge-based economy, helping people get the education, skills and training they need for current and future jobs has never been more important."
The Northwest Territories, Nunavut and Quebec each receive an annual payment to operate their own student financial assistance programs, as they do not participate in the federally run Canada Student Loans Program. Since 1964, Quebec has received more than $3 billion in alternative payments.
The Government of Canada is committed to ensuring that Canadian students and their families have access to financial assistance to support their post-secondary education.
The payment to Quebec has increased due to significant changes to the Canada Student Loans Program in August 2009, including the introduction of the Canada Student Grants Program and the Repayment Assistance Plan, as well as a 10 percent increase in the uptake of student loans and grants across Canada.
For more information on how to save, plan and pay for post-secondary education, visit CanLearn.ca.
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This news release is available in alternative formats on request.
For further information (media only):
Michelle Bakos
Press Secretary
Office of Minister Finley
819-994-2482
Media Relations Office
Human Resources and Skills
Development Canada
819-994-5559
The Canada Student Loans Program (CSLP) has provided loans and grants to students across Canada since its introduction in 1964. Most provinces and territories participate in the CSLP, with the exception of Quebec, Nunavut and the Northwest Territories.
The Government of Canada provides Quebec, the Northwest Territories and Nunavut with an annual alternative payment in support of their own student financial assistance programs.
The $275 million alternative payment to Quebec for the 2009–2010 school year increased by $150 million compared to the previous school year. The amount has increased as a result of significant changes to the CSLP and a 10 percent increase in student loan and grant uptake across Canada.
Changes to the CSLP took effect on August 1, 2009; they include the introduction of Canada Student Grants and the Repayment Assistance Plan.
The Northwest Territories and Nunavut will receive approximately $2 million and $1.6 million respectively. These amounts represent an increase of more than 100 percent in alternative payments for each territory.
The alternative payment is provided no later than six months after the end of the student loan year, which ends on July 31. For example, Quebec will receive its alternative payment for the 2009–2010 loan year no later than January 31, 2011. Since 1964, Quebec has received more than $3 billion in alternative payments.
In 2009–2010, post-secondary students across Canada benefitted from over $500 million in Canada Student Grants and over $2 billion in Canada Student Loans.
Visit CanLearn.ca for more information on the Canada Student Loans Program.
