Reform the Student Loan process
This petition had 1,531 supporters
Canada claims to put Education high on it's priority list to stay competitive in the World labour market, however it is embarassing if not plain insulting, how Students and their families are financially exploited for tuition.
Many promising individuals never get the opportunity to attend tertiary educational institutions, which ultimately harms us all.
Other countries like in the UK do not require repayment of loans until people are earning a fair amount of income per year and even forgive studnet debt after so many years.
Canada profitted absurd amounts from loaning money to students, pathetic!
If the Federal and Provincial governments have profitted from the student loan process then they should be able to implement important reforms:
1. Extend the amount of time before loans must be repaid (currently 6 months). Graduates should recieve the average amount of time to find full-time emplyment in their field of study before repayment OR Graduates should not have to make any repayment until they are salary earning above a threshold (say $35,000 minimum).
2. Lower personal taxes for all citizens by re-infusing a majority portion of the profits accumulated from student debt-repayment.
3. Lower interest rates and principal amounts to students who are not employed and/or not earning enough income.
4. Lower interest rates and principal amounts by re-directing profits from the current student loan process
5. Provide garuanteed subsidized or complimentary education to promising individuals who maintain grade point averages. Not just to status First Nations Canadian (The free tertiary education policy for status First Nations is a controversial policy, however, if made available to all citizens this controversy would be negated).
6. Student Loan forgiveness after set elapsed time period (The UK forgives all student loans after 30 years).
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