Thank you, Mr. Speaker. Mr. Speaker, I have a return to an oral question asked by Mr. Michael Miltenberger on June 26, 2000, regarding student financial assistance payment options.
The department deposits funds in the bank accounts that students specify they are using for the school year. We electronically deposit the funds into student bank accounts using the major banking institutions located in the Northwest Territories, including the Canadian Imperial Bank of Commerce, the Royal Bank, the Bank of Montreal, the Toronto-Dominion Bank and the Bank of Nova Scotia. The capacity to link with smaller financial institutions such as trust companies is not yet available.
Students who do not have accounts with the five major institutions which I have named are advised to open an account with one of those institutions to facilitate the ease of electronic transfer. Thank you, Mr. Speaker.