Thank you, Chair.
The government has taken a number of measures on the front end as well, doubling the grants temporarily until next year. Of course there was an interest waiver for two years that is already in effect. Of course, with regard to the elimination of interest...the prime rate has been fluctuating and has been going up, as you know.
Right now, most of the students would be repaying their student loans at the prime rate had it not been for the waiver that is in effect. As the prime rate goes up, of course their payments go up as well. As a result of this elimination of interest, if it's approved by Parliament, that will no longer be charged, so their repayment will be slightly less burdensome. They will be saving slightly more than $400 a year—those who are in repayment—as a result of this measure.