moved for leave to introduce Bill C-330, An Act to amend the Business Development Bank of Canada Act and the Canada Student Loans Act to provide for a student loan system that is more supportive of students.
Mr. Speaker, I felt compelled to introduce this bill to try to do something on behalf of the student debt crisis faced by post-secondary students today, students who graduate with a debt the size of a small mortgage.
The bill seeks to amend the Business Development Bank of Canada Act to put in place a regime of student loans that would enable more students to access capital at reasonable rates and repatriate the Canada student loans system to be the responsibility of the federal government rather than the private sector lenders. We all know that the experience through the main charter banks has been catastrophic in terms of providing students with the loans they need.
(Motions deemed adopted, bill read the first time and printed)