[Student debt has been a scandalous abuse of what should be understood as a public investment since the SoCreds used them to replace student grants in the early 80s. Now that the rich have lost their gamble on the resale of re-bundled debt, student loans are in the news. They were rumoured to be part of the backing for ABCP. Student use of food banks also merits attention. -jlt]
Canadians who have pursued post-secondary studies now owe the federal government $13 billion in outstanding loans, according to new figures from the Canadian Federation of Students.
|he CFS says the $13-billion figure does not include $5 billion students owe to provinces, nor does it include any debt they owe to banks, credit companies and their parents.|
The CFS says Canada Student Loan debt increases by $1.2 million per day and will cross the $13 billion mark on Wednesday.
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