Thank you, Mr. Chairman. I am pleased to introduce Bill 19, An Act to Amend the Student Financial Assistance Act. The purpose of this legislation is to increase the aggregate amount that a student is eligible to borrow under the Student Financial Assistance program.

The current aggregate amount that a student is eligible to borrow under the Student Financial Assistance Act is $47,000. The amendment proposes to increase this amount to $60,000. This change will allow the Department of Education, Culture and Employment to increase benefit levels under the SFA program by raising the monthly repayable loan limit from $1,100 to $1,400. This will mean that students in a typical eight-month program will see benefit levels increase from $8,800 to $11,200 per academic year.

We trust that the members of the committee will agree that this amendment is appropriate and will benefit northern students.

Mr. Chairman, I will be pleased to answer any questions the members of the committee may have.