MY LOAN!

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About nalf of Canadian post-secondary students depend on the Canada Student Loan Plan (CSLP) to help offset the cost of their education. With rising tuition fees and increasing living costs, students are forced to incur greater debt loads.

The CSLP does not meet the needs of post-secondary students and is in serious need of reform. The Federal government’s solution to the student debt load crisis has been the introduction of a 3% administrative fee as a measure to “encourage responsible borrowing and — deter Joan defaults”. In effect, this measure is nothing more than a discriminatory service tax.

THE 3% TAX OW STUDENT LOANS. ~~~~~~

‘As of August 1st 1991, a 3% administrative fee will be tacked on to your student loan, so that if you have borrowed $5,000 you will in fact be paying interest on $5,150.

WHAT THIS TAX REALLY MEANS IS... ~~~

Those students who can least afford the cost of a post-secondary education are being taxed for going into debt.

What this tax really means is... An added barrier to post-secondary education.

What this tax really means is... The Mulroney government does not recognize the current financial barriers faced by students.

What this tax really means is... This government is not committed to a fully accessible post-secondary education.

THE REAL SOLUTION IS...§ ~~~

The real solution to the student debt load crisis is a national system of grants, not loans!

The Canadian Federation of Students wants the proposed 3% tax on student loans withdrawn immediately.

The Federation has called for a meeting of the National Advisory Group on Student Financial Assistance with the goal of reviewing the CSLP and implementing such reforms as an extension of the Interest Relief Programme. ;

- EDUCATION IS A RIGHT NOT A PRIVILEGE ~~~~~~~~

lor more information on th ati i ivi ° e Federation and its activiti i aid, contact your local student association. Soe e

p forge Cee ry

September 13th, 1990