Thank you, Madam Chair. Bill 12, an Act to Amend the Student Financial Assistance Act, will increase the maximum aggregate of the principal amounts of loans outstanding under the Act. The current schedule lists that amount as $18 million. Bill 12 proposes to increase the amount to $20 million for the fiscal year 1996/97 and to $21 million in 1997/98, and subsequent years. The student loan fund was established in 1982. It has provided financial assistance to an increasing number of students in post-secondary programs. The amount of loans issued continues to exceed the amount of loans repaid, remitted, or written off each year. This is due to the increasing number of students accessing the program and higher education costs. Without a funding increase, there may not be sufficient funds for all new or continuing students to receive loans. Madam Chair, that concludes my opening remarks. I will be pleased to answer any questions Members may have about Bill 12.
Charles Dent on Committee Motion 46-13(4): To Amend Sub-clause 3(6) Of Bill 7: Municipal Statutes Amending Act
In the Legislative Assembly on March 4th, 1997. See this statement in context.
Committee Motion 46-13(4): To Amend Sub-clause 3(6) Of Bill 7: Municipal Statutes Amending Act
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
March 4th, 1997
Page 1095
See context to find out what was said next.