Thank you, Mr. Speaker. Mr. Speaker, as a northern Indigenous born and raised in Fort Rae as shown on my birth certificate, I am proud of the Student Financial Assistance Program that we have in the Northwest Territories. I heard many times by others, it is one of the best student support programs in Canada. With the changes that the Minister of ECE put in place last Assembly, there is more support for Indigenous students, which I hope will help to improve the education outcome for students in the NWT, especially in small communities. The outcome is not good.
My concern with this bill, with this Private Member's bill, Mr. Speaker, is that we are under fiscal restraint. Why under fiscal restraint are we going to increase the funding cap for student loans? Mr. Speaker, we have people in Fort Smith that will be losing 20 positions and many of these have families and mortgages. Now some of them might have to sell their house. And if lucky enough, some of them might, you know -- I mean, if they're lucky enough, some of them might have to find an employment in Fort Smith.
So, Mr. Speaker, if we are going to increase the loan cap offer under Student Financial Assistance Program, how much will this cost the GNWT? How will this impact the education outcome for Indigenous students in small communities? And why, Mr. Speaker, would we consider an increase in the funding amounts provided to students without increasing the requirement to return back to the NWT to contribute to our economy to repay the loan? By raising the funding cap for students, we are allowing students to leave the NWT for longer periods of time with no incentive to return to the NWT and work in between their studies.
Mr. Speaker, I don't believe this Private Member's bill is ready for review by the House. I don't believe it's necessary to increase the funding limitations. I believe we already have an excellent program that does not need adjusting at this time. In order to advance this bill, there needs to be more research and engagement done prior to introducing in this House. For these reasons, Mr. Speaker, at this time -- I said at this time -- I will not support the motion.