Description: The Government of Canada is writing off about $300 million in student loans, most of which was defaulted on before 2009. The details were revealed in supplementary spending estimates tabled in Parliament on February 19. Jessica McCormick of the Canadian Federation of Students commented that the amount of the defaults points to a need for changes in student funding programs.
Source: Globe and Mail.com
Date: February 19, 2015
1) As a student, what has been your experience with student loans?
2) What changes would you recommend to help students finance their post-secondary education?
3) The article states that with respect to student debt, “the department does not report losses for each fiscal year”. Discuss the merits of this based on your knowledge of accounting principles.