Thank you, Madam Chair. I believe he left off at the amount of $21 million in 1997/98. The growth in the number of students accessing the various types of student loans means there is insufficient working capital in the fund to support the number of loans being requested. When the standing committee approved the 1996/97 main estimates for the department, it was noted the student loan revolving fund would be over-expended before the end of the fiscal year, projected $18,430,000. The Minister did indicate, at that time, he would have to bring this bill to amend the loan ceiling. The standing committee has no concerns with the bill at this time.
Floyd Roland 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.