DON’T
      TAX
      e]
      YM
      Y
      LOAN!
     
    
   
   
    
     
       
     
    
   
   
    
     
       
     
    
   
   
    
     
      About
      half
      of
      Canadian
      post-secondary
      students
      depend
      on
      the
      Canada
      Student
      Loan
      Program
      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
      Canada
      Student
      Loan
      Program
      does
      not
      meet
      the
      needs
      of
      post-secondary
      students
      and
      is
      in
      serious
     
     
      need
      of
      reform.
     
    
   
   
    
     
      Did
      you
      know...there
      are
      no
      national
      standards
      in
      the
      provision
      of
      student
      aid,
      in
      fact,
      there
      are
      12
      different
     
     
      student
      aid
      programs
      in
      the
      country.
     
    
   
   
    
     
      Did
      you
      know...Canada
      is
      one
      of
      the
      few
      countries
      in
      the
      western
      world
      which
      does
      not
      offer
      students
      a
     
     
      national
      system
      of
      grants.
     
    
   
   
    
     
      Did
      you
      know...current
      loan
      allowances
      are
      based
      on
      cost
      of
      living
      figures
      that
      have
      not
      been
      updated
     
     
      since
      1984.
     
    
   
   
    
     
      Did
      you
      know...the
      part-time
      student
      loan
      program
      is
      so
      inadequate
      that
      less
      than
      1%
      of
      Canada’s
     
     
      450,000
      part-time
      students
      use
      the
      program.
     
    
   
   
    
     
      Did
      you
      know...in
      1988
      the
      average
      debt
      load
      for
      graduating
      students
      was
      $6,000
      and
      nearly
      10%
     
     
      graduated
      with
      debts
      exceeding
      $13,000.
      When
      combined
      with
      provincial
      student
      loans
      many
      have
      debt
     
     
      loads
      of
      over
      $15,000.
     
    
   
   
    
     
      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
      loan
      defaults”.
      In
      effect,
     
     
      this
      measure
      is
      nothing
      more
      than
      a
      discriminatory
      service
      tax.
     
    
   
   
    
     
      As
      of
      August
      1st
      1991,
      the
      3%
      tax
      will
      be
      added
      to
      your
      student
      loan.
      This
      means
      $150
      will
      be
     
     
      \
      applied
      to
      a
      $5,000
      loan
      and
      you
      will
      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
      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.
     
    
   
   
    
     
      Did
      you
      know...there’s
      still
      time
      for
      students
      to
      make
      a
      difference,
      we
      can
      beat
      the
      3%
      tax!
     
    
   
   
    
     
       
     
    
   
   
    
     
      6
      CANADIAN
      FEDERATION
      OF
      STUDENTS