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Funding University Students
A fair system for the student and taxpayer.
A financially oppressed university graduate is going to court so she can have her right to declare bankruptcy and be free of her student loan obligations. Her contention is that the law that forbids declaring bankruptcy on student loans is in violation of the charter of rights and freedoms. She has significant support from the university community across Canada.
We can probably argue forever whether she is justified or not in her position, but one argument does need to be addressed: if she is successful, how will future university students find funding?
It does not take a university degree to see that if she does get her way; financial institutions are going to back away from loaning students money in the future. Why should they take the risk that 75% or 50% or even 25% of students will take advantage of such a legal precedent to relieve themselves of their loans? Students who do not have the wealth to pay for their education but have the ethics to live up to their obligations will not be able to find financing. In essence, they will not be able to go university. Is this what the challenger and her supporters to the existing rules want?
When I was going to university, I had the opportunity to work four months on the drilling rigs to pay for eight…
