moved for leave to introduce Bill C-389, an act respecting the development of a national strategy on student loan debt.
Mr. Speaker, I am honoured to rise today to introduce this bill, the student debt relief act, with great thanks to my seconder, the hard-working member for South Okanagan—West Kootenay.
This legislation provides for the development of a national strategy with the objective of reducing student loan debt. Too many Canadian students have been forced to assume a crushing debt load simply to receive an education.
According to the Canadian University Survey Consortium, the average Canadian student will now graduate with over $26,000 in debt. This legislation looks to reduce student loan interest rates to prime rate, introduce incentives to complete a degree, including loan forgiveness, and establish rewards for on-time payments of loans, such as the possibility of interest rate reductions. New Democrats believe every Canadian student, who studies hard, should be able to access a world-class education without going deeply into debt.
Therefore, I call upon all parliamentarians to work together to make debt-free post-secondary education a reality for all students in Canada.
(Motions deemed adopted, bill read the first time and printed)