Madam Speaker, I listened closely to the speech by the member for Newton—North Delta. I was pleasantly surprised by his remarks on student debt and bankruptcy by former students.
People are often prejudiced against former students. They think that declaring bankruptcy is easier for graduates than for other socio-economic groups. They also believe that students are more eager than others to get rid of their debts by declaring bankruptcy. However, as the member for Newton—North Delta said, it is not easier for graduates than for anyone else. In reality, this must be a very psychologically and emotionally difficult process.
No doubt the member for Newton—North Delta would be willing to support an amendment that the Bloc Québécois intends to move in committee on this particular aspect of Bill C-55. Why make former students wait seven years before they can discharge their student debt when declaring personal bankruptcy? This waiting period is so arbitrary, as was the ten-year waiting period set out in the previous legislation. Why not five, four or three years, or even nothing?
In keeping with its commitments in recent years, particularly those set out in its 2004 election platform, the Bloc Québécois will move an amendment in committee to eliminate this mandatory waiting period before former students can discharge their student debts during a personal bankruptcy.
I want to hear what the member for Newton—North Delta thinks about this.