Mahsi. Mahsi, Mr. Speaker.
[Translation] I'd like to -- I'd like to, but still what I'm going to be talking about of how the kids that are in school, the kids that are in school, what is it that we can -- how we can improve the education for the young people at this time. [Translation Ends].
Mr. Speaker, the Government of the Northwest Territories has jurisdiction over educating all students in the NWT. The GNWT must provide access to the same quality of education regardless of the location or size of their communities.
Mr. Speaker, we have an excellent student financial assistance program. It is among the best in the country. Yet, Indigenous students are grossly underrepresented in education outcome. Mr. Speaker, there is a privilege in the education system. The results show who is succeeding and who is struggling.
Recent statistics show 6.1 percent of Indigenous students complete a university degree compared to 36.6 percent of non-Indigenous students. The improvement to the SFA program in the last Assembly supported Indigenous students by removing the semester limit. Now Indigenous students can access SFA for as long as they need to pursue post-secondary education. This is positive.
Mr. Speaker, if we are raising the student loan limit, how many students from small communities will benefit from this? How many Indigenous students in the NWT are even near the $60,000 loan limit? Mr. Speaker, who will benefit from this increase student loan limit? And how will we pay for this?
The 2023 public accounts show the GNWT is running a $2.7 million operating deficit from granting more student loans than is available in the revolving loan limit, and now we have a bill to provide larger loans.
The 2020 Auditor General report on education in the NWT highlighted the gap in graduation rates between Indigenous and non-Indigenous students. The gap in support for students in small communities and that the department is unable to confirm equitable access to education programs and services in small communities and whether students' outcome were improving. Mr. Speaker, this bill will mostly improve access to --