Students Call for $2.1 Billion Grants Program to Replace Millennium Scholarship Foundation

Canadian Federation of Students

Thursday, October 04, 2007

In a new policy paper released today, the Canadian Federation of Students proposes a new grants program to replace the beleaguered Millennium Scholarship Foundation, set to expire in 2009. By re-organizing wasteful and ineffective education-related tax credits and tax havens, the federal government can offer more than $2 billion in need-based grants without increasing spending in the next budget.

"The federal government has both the opportunity and the fiscal power to act now to improve access to post-secondary education and reduce student debt," said Amanda Aziz, National Chairperson of the Canadian Federation of Students. "Tuition fees are putting tremendous pressure on many families. A new grants program is not only possible, it is necessary to make post-secondary education more affordable."

In addition a new framework for federal need-based grants, the Canadian Federation of Students proposes other policies aimed at improving access to universities and colleges and reducing student debt:

• Expanded eligibility criteria for the Debt Reduction in Repayment program
• Increased federal transfers to the provinces for reducing tuition fees
• A federal department of Post-Secondary Education and Research
• Increased funding to support Aboriginal students
• Greater support for Statistics Canada's education data collection

The Canadian Federation of Students' new paper, titled Strategy for Change: Money does matter, can be downloaded from the link below.

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Related site: Strategy for Change: Money does matter (3.4MB pdf)