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Hon. Gordon L. Bennett: Mr. Speaker, more Federal participation in education is essential in this Province with its very limited natural resources and revenue sources. If constitutional barriers presently exist, let us aim to have them removed. Training and re-training of adults is carried out with Federal funds. Financial assistance comes to universities through the national government. Loan funds are made available through arrangements with our Government at Ottawa. The Federal Government has recognized and shouldered its responsibilities in these areas. Let us hope that further assistance through the FRED fund or in some other direct manner will be provided by our central government. I wish to say, Mr. Speaker, just a few words about the Canada Student Loan plan which seems to have been, and quite properly so, a topic of discussion and interest in this Province in the last week or so. I think we have to recognize that this is a Federal plan, Mr. Speaker, whereby certain dollars are furnished to the various provinces and the formula by which these dollars are allocated is established by a provincial authority and I’m sure all Members of the Legislature agree with the value of a Canada Student Loan plan in a great many, and I would hope in the majority, of cases. As we all know, a student can receive a maximum loan of $1,000 per year, interest free, and this past year it was used by 891 Prince Edward Island students. This Province received the highest percentage assistance of all Canadian Provinces. 34.2% of all Canadian students enrolled in post-secondary institutions received assistance under the Canada Student Loan plan while 55.3% of the Prince Edward Island students received this

form of assistance, a national average of 342‘} and 55.364 of the Prince Edward Island students were included in the program.

The Canadian average, Mr. Speaker, as I indicated the other day in another connection up to the end of January 1968, was $658.00. The average loan to stud- ents in the Province, the second highest in Canada, was $786.00. Since the inception of this program in 1964 over 103 millions of dollars have been loaned to Canadian students doing post—secondary work in education.

I am not convinced, Mr. Speaker, that the Canada Student Loan Program is good in every respect. Sometimes it sets unnecessary and unreasonable economic burdens upon a student when he has other fresh financial responsibilities to meet as he starts out in life. Such a person, in all probability, would make a greater contribution to his community, his province, and his country if he were not saddled with this additional yoke of educational debts. I realize at the same time, Mr. Speaker, and this is where the real value of these loans lie, that in many, many

cases a university education would be impossible for a student if it were not for such loan.

An individual student is permitted, over a period of his University training, to contract a loan of $5,000. Sometimes during the course of his University career he will fall in love with a university student who likewise has committed herself to a loan of $5,000. So they start out in life as a couple with a financial obligation of $10,000 through educational debts, and I am under the impression, Mr. Speaker, that too many students are borrowing money unnecessarily. Too many are borrow— ing money for educational purposes unnecessarily.

J. David Stewart: And they have to trade the car.

Hon. Gordon L. Bennett: Yes and they have to trade it in like many other people every other year or so.

Mr. Speaker, the amount of money that came to this province during this pre- sent school year was based on a certain DBS formula, and as we noted the other day, this was supplemented by 20%, and then if there are other Canadian provmces not interested in this 20% supplement then the Province of Prince Edward Island, if it so desires, could draw from this additional supplement, and this was done during the school year which is presently operating.

Now there is an indication, Mr. Speaker, that all Canadian Provinces in the next school year will be using their 20% cushion, and this makes it less probable that the Province of Prince Edward Island will be able to draw on amounts which normally would go to some other Province of Canada.

I would hope, however, that this province would continue to get a maximum

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