Madam Speaker, our government is committed to having the most educated skilled work force in the world. It is vital for our economic recovery and success.
To help borrowers who face repayment difficulties, our government introduced important measures in budget 2008. We changed the repayment assistance plan of the Canada student loan program. Now borrowers are only required to pay back what they can reasonably afford, and based on their family income and size. In 2009-10, approximately 160,000 individuals who were issued a Canada student loan benefited from the repayment assistance plan.
As a result of this and many other measures at HRSDC, we have been able to help students not default on their loans, and an historic low in default rates has been achieved, at just under 15%.
To help borrowers manage their debt, we contact them before their repayments and provide them individual counselling so they are able to be responsible borrowers.
Our government wants students to realize their post-secondary education goals,. We are helping them do that.