Thank you very much, Mr. Chair.
I'm very much enjoying the back and forth in the testimony, though I sometimes have trouble hearing the answers over the questions.
First, one of the responses you gave—initially to my colleague Ms. Dzerowicz, and then to Mr. Fragiskatos—I found stunning. I want to make sure I have my understanding correct.
Of the $500-or-so million program, there is an “up to” $43-million administration fee, depending on how many students can be placed. I was under the impression that this was going to provide some sort of benefit to the organization for administering this program.
Am I correct in my understanding that every penny of that administration fee, if the program were actually executed properly, would not have gone to the organization but would have been exclusively for expenses?