FOR IMMEDIATE RELEASE
OTTAWA, April 8, 2015 – The Canadian Alliance of Student Associations (CASA) has launched a financial aid campaign, which highlights the reality of student debt being family debt. The campaign underscores the impact student debt is having on middle class Canadian families, and calls on government and all parties to commit to investing in student financial aid.
“The average amount of student debt is rising, and many students are required to rely on their parents for help, even though their parents might not be able to afford it”, said Annie Sherry, Campaign Chair and Vice-President External for the Mount Allison Students’ Union. “The student financial aid system needs more investment to alleviate the burden being put on Canadian families”.
Last June, CASA conducted a national poll of parents of children in post-secondary education in collaboration with Abacus Data. The poll revealed that in order to pay for their child’s education 40% of parents were working more hours at another job, 33% were dipping into their retirement savings and alarmingly 14% were remortgaging their homes.
“When student debt has become so overwhelming that families are forced to take money out of their retirement savings or even remortgage their homes, we have a significant problem”, added Sherry. “Students and their families are ready to share in the responsibility of paying for post-secondary education, but you can’t share what you don’t have”.
CASA is calling on all political parties to commit to investing in student financial aid in the lead up to the upcoming federal election.
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Established in 1995, the Canadian Alliance of Student Associations (CASA) is a non-partisan, not-for-profit national student organization composed of 22 student associations representing 280,000 post-secondary students from coast to coast. CASA advocates for a Canadian post-secondary education system that is accessible, affordable, innovative, and of the highest quality.
FOR INFORMATION PLEASE CONTACT
Matthew Rios, Government Relations and Communications Coordinator
Office: 613-236-3457 ext. 221