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e-2296 (Education and training)

E-petition
Initiated by Haley Odegaard from London, Ontario

Original language of petition: English

Petition to the Prime Minister

Whereas:
  • Over half of Canadian post-secondary students graduate with student loan debt, and the average debt for those leaving an undergraduate program is over $30,000, and the costs are only increasing;
  • By the end of the repayment term, an individual may end up paying close to $19,000 in interest on a $30,000 loan if they are not able to make larger monthly payments. With the ongoing housing/rental crisis and the rising costs of living, many individuals find it difficult to make the minimum payment;
  • Millennials now account for 20% of Canada's population and many are unable to purchase homes, get married or have children due to this burden. The Millennial generation has hit the record for the lowest levels of reproduction than any generation prior;
  • An educated workforce is an advantage and that should be viewed as profit in and of itself. Higher education should be encouraged and not penalized;
  • Revenue generated by the federal government’s student loan interest rates was $662 million during the 2016-2017 year and $635 million the year prior. The revenues have continued to increase each year and this year the federal government will take in about $862.2 million from the Canada Student Loans Program; and
  • We are in the midst of a debt crisis. With graduates owing $28 billion to all levels of government, we need bold and expeditious action to avoid long term economic and demographic consequences.
We, the undersigned, citizens of Canada, call upon the Prime Minister to eliminate interest on all outstanding and future federal student loans.
Open for signature
December 30, 2019, at 8:57 a.m. (EDT)
Closed for signature
March 29, 2020, at 8:57 a.m. (EDT)
Presented to the House of Commons
Lindsay Mathyssen (London—Fanshawe)
May 6, 2020 (Petition No. 431-00174)
Photo - Lindsay Mathyssen
London—Fanshawe
New Democratic Party Caucus
Ontario
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