Madam Speaker, Canadians with modest or middle level incomes are increasingly challenged to help finance their children's higher education. Steep tuition increases have greatly outstripped wage growth in the past decade and has resulted in more and more qualified students being unable to get a post-secondary education. This is a loss we cannot afford.
We live in a knowledge based economy. Canada needs more graduates equipped with cutting edge skills and learning vital to the growth of our domestic economy and to the success of Canadian business in the global marketplace.
Today students need larger loans to cover tuition fee increases and the impact of inflation on their cost of living. We must reduce the financial barriers to post-secondary education. To this end, I urge the government to increase the Canada student loan program maximum weekly loan limit and provide new debt reducing mechanisms to help students shoulder the burden of increased debt.