An Act to amend the Business Development Bank of Canada Act and the Canada Student Loans Act (student loan system)

This bill was last introduced in the 39th Parliament, 2nd Session, which ended in September 2008.

This bill was previously introduced in the 39th Parliament, 1st Session.

Sponsor

Peter Stoffer  NDP

Introduced as a private member’s bill. (These don’t often become law.)

Status

Not active, as of May 18, 2006
(This bill did not become law.)

Summary

This is from the published bill. The Library of Parliament often publishes better independent summaries.

The purpose of this enactment is to establish the Business Development Bank of Canada as a lender of guaranteed student loans and to provide that student loan interest rates are set annually at the rate of inflation for the previous year.

This will ensure that students and persons still paying off student loans have reasonable financing and are not unduly burdened by debt after completing their education.

Persons who have existing loans from the lenders previously established by the Canada Student Loans Act will be able to apply for loans from the Business Development Bank of Canada to pay them off and will then be covered by the new interest provisions.

Elsewhere

All sorts of information on this bill is available at LEGISinfo, provided by the Library of Parliament. You can also read the full text of the bill.

Business Development Bank of Canada ActRoutine Proceedings

May 18th, 2006 / 9:05 a.m.
See context

NDP

Peter Stoffer NDP Sackville—Eastern Shore, NS

moved for leave to introduce Bill C-309, An Act to amend the Business Development Bank of Canada Act and the Canada Student Loans Act (student loan system).

Mr. Speaker, a lot of students are on the cusp and cannot access student loans because, according to the rules and regulations, their parents make $1 too much over the minimum in order to achieve this.

All students in this country have the right of access to university, post-secondary education and vocational training. We should not restrict access to student loans and opportunities for students to upgrade their skills in order to assist us in the future economies.

(Motions deemed adopted, bill read the first time and printed)