Finance committee  It would likely be less than that. It could be somewhere in the mid-twenties.

Finance committee  Thank you, Chair. It is difficult to say how many students would not be going to school without this measure. What we do know is that some of those in repayment, those who have gone to school and then are in repayment, are struggling with rising costs. As you know, in Canada student aid is provided by the federal government and provinces in a sixty-forty split, usually.

Finance committee  This measure is targeted at making load repayment more affordable, so I do not have the number of how many students might go to post-secondary because of this measure.

Finance committee  =Thank you, Chair. I am one of the representatives from the department. I could go first. I don't know if there are others too.

Finance committee  Thank you, Chair. This is about Canada student loans and Canada apprentice loans. Division 5 of part 4 proposes to amend the Canada Student Loans Act, the Canada Student Financial Assistance Act and the Apprentice Loans Act to permanently eliminate the accrual of interest on Canada student loans and Canada apprentice loans, starting on April 1, 2023.

Public Accounts committee  Could I jump in, Deputy? Yes, a financial institution has to be an access point. Families who want to apply for a Canada learning bond have to open an RESP, which can only be opened with a financial institution. That has to be an access point. For the families who have difficulty doing that, we have about 350 community organizations that we work with to help them open RESP accounts with financial institutions.

Public Accounts committee  Thank you, Deputy. The explanation is.... The member already mentioned that families need to open a registered education savings plan in order to receive the Canada learning bond. The program design is part of a savings incentive scheme. Families need to go to a financial institution and open an account, open an RESP, and then apply for the Canada learning bond.

Public Accounts committee  The legislation currently does not allow that, but it is one of the things that the department continues to look into.

Human Resources committee  Mr. Chair, as you may already be aware, the interest charged on Canada student loans and apprentice loans has been waived until March 2023. As you may also know, we work with our provincial student aid programs to implement any initiatives taken by the federal government. With respect to the minister's mandate of eliminating interest on student loans and apprentice loans, that is already in place until March 2023.

Finance committee  Thank you, Mr. Chair. I will make it very short. I am the assistant deputy minister of the learning branch at Employment and Social Development Canada. Division 30 proposes to waive interest accrual on Canada student loans and Canada apprentice loans for two years between April 1, 2021 and March 31, 2023.