News Release - January 26, 2001
SASKATCHEWAN TO NEGOTIATE \"ONE STUDENT - ONE LOAN\" AGREEMENT
Saskatchewan is entering into negotiations with the federal government to
integrate the delivery of the Canada and Saskatchewan student loans programs.
"The integrated delivery on the student loan program offers many potential
benefits to students and taxpayers," Post-Secondary Education and Skills
Training Minister Glenn Hagel said. "These include the simplicity of a single
loan, better service, reduced administration and red tape, and improving
interest relief and debt reduction for students who run into difficulties in
repaying their loans."
About a year ago, public consultations were held all across Saskatchewan to
discuss ways of improving financial access to higher education and training.
"We heard consistently from students and their families that improvements to
the student loan program were important," Hagel said.
When Saskatchewan's five-year risk-sharing agreement with the Royal Bank
expires on July 31, 2001 the province will once again be responsible for
financing and administering the Saskatchewan Student Loans Program.
"I am delighted we will be working with the Government of Saskatchewan to
integrate our student loans programs," Human Resources Development Canada
Minister Jane Stewart said. "Our goal of improving service to students can be
achieved by making our programs more efficient and effective."
If the Canada and Saskatchewan student loans programs are integrated, a student
will have a joint loan supported by two governments and administered by a
single agency. "Reduced administrative costs will free up funding for program
improvements," Hagel said. "This is an example of how the provincial and
federal governments can work together to provide a better student loan program
at lower cost to the taxpayer."
For more information, contact:
Post-Secondary Education and Skills Training
Phone: (306) 787-5586