Mr. Speaker, there is no doubt that we as a country are piling debt on our young people to such a degree that it becomes an impediment to many of them who want to advance. Many of them for reasons, perhaps beyond their own control, are facing bankruptcy. It is unfortunate we have brought them to that. I have a family. I know what it costs to go to school and what it takes to obtain an education.
I am well aware of the fact that there are hardship cases. I agree with my colleague that the periods of 10 years or 7 years are arbitrary. The big issue is the hardship of ensuring that is the case, but even then, why 7 years? Why not 5 years or a shorter period? I am not opposed to seeing that period of time reduced, providing the student can show a hardship case and proper parameters are set so there is no abuse of the system.
Because we have created such a vast indebtedness and because students must rely on loans to the degree they do, we have to be careful that it does not become too easy for them to go to university, get an education and then declare bankruptcy. There must be some preconditions to how that happens. I realize that 10 years, or 7 years or 5 years is a long time. I would be in favour of reducing the period, but at the same time ensuring that the case is legitimate, is compassionate and requires intervention to the degree a bankruptcy would.