First of all, what you need to do is focus on what you should not do, and that's this continual reliance on tax credits as a form of student financial aid. It's not just the federal government that's guilty of that; it's a lot of the provinces as well. You actually see more than half of the money that's budgeted right now for student assistance in Canada, both at the federal and provincial levels, being done through tax credits. That's money that is back-ended. It doesn't go into students' pockets when they need it, and a lot of the time it doesn't even go into students' pockets. So I think a change of strategy towards more concrete, upfront forms of student financial assistance is important.
There are two things you need to look at: getting the money to people who need it, so targeted funding to those from backgrounds who don't normally go to post-secondary education, and just general needs-based funding as well; and secondly, an increased focus on grants, because you mentioned that there is a significant problem with student debt right now.
There has been some new research come out in the past few months that says student debt is a big contributor to people actually dropping out of the system. There are many unfortunate cases where people spend a lot of money on post-secondary education and don't even get that credential because they're so concerned about their debt.