Thank you, Mr. Chair. I appreciate the opportunity to sit in on the discussions here today.
I'd like to put some things into context. We're making constant comparisons to what's available in the United States. A cursory review has indicated that the average cost of a master's degree is between $20,000 to $30,000 a year, as compared to Canada, where it's $17,000 a year. I'd like to put that into context in terms of using those comparisons. Let's use them on both sides.
The other thing as well, as a matter of record, is that we keep hearing that nothing has been done in terms of supporting students in education. In budget 2023, $813 million was committed to enhancing financial assistance to students. That includes student loan grants being increased by 40%. In the previous budget, any repayment of student loans would not be required if their income was less than $40,000, and the maximum amount of repayment for a student to the student loan was reduced to 10% of their income, from 20%.
In addition to that, we also introduced $30,000 in loan forgiveness for nurses and $60,000 in loan forgiveness for doctors.
I'd like to put this in the context of the overall support for education. I acknowledge that this is not in the scope of this study, but I think this information should also be a consideration as we go forward.
Having said that, I will turn the balance of my time over to my colleague, Mr. Lauzon.