For Immediate Release
Monday, May 11, 2009
HALIFAX – A new tax credit announced this morning by Progressive Conservative Leader Rodney MacDonald will do very little to curb student debt, improve access for low- and middle-income students, or address out-migration of Nova Scotia’s youth.
“Students in Nova Scotia pay the highest tuition fees in the country and struggle with the country's highest average student debt,” said Kaley Kennedy, Nova Scotia National Executive Representative of the Canadian Federation of Students. “ NO.”
“There is not a shred of evidence to support the theory that these programs make education more affordable. In fact, research suggest that this type of program is a boon for wealthier families.”
The proposed program would provide up to $1000 in non-refundable tax credits to parents who place money into a Registered Educational Savings Plan within the first year of a child’s life, starting January 2010.
According to the Maritimes Provinces Higher Education Commission, higher-income families in the Maritimes are more than twice as likely to save for their child’s education, and support them later during university.
“In this election, students and their families are looking for a real plan to address skyrocketting tuition fees and a plan to reduce student debt,” continued Kennedy.
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The Canadian Federation of Students is Canada's largest student organisation. It is composed of over 80 university and college students’ associations in all ten provinces with a combined membership of over one-half million students.
For more information, please contact:
Kaley Kennedy
Nova Scotia National Executive Representative
Canadian Federation of Students
Office – (902) 425-4237
Cellular – (902) 802-4616
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