16 Conservatives Encourage you to go bankrupt
The fact that 17 Conservatives voted for the NDP's proposal to lighten bankruptcy rules for students is shocking.
I thought we were supposed to be the party of responsibility. What is so responsible about telling students that you can rack up over $80,000 worth of debt (like I will by the time I'm through), declare bankruptcy, and be home free after two years of interest payments. (Incidently, 9 months of which can be easily avoided on the front end, and 3 months easily avoided on the back end.)
So 16 Conservatives are telling students to do the following:
1. Borrow $80,000
2. Pay back less than $6,000
3. Walk away with $74,000
Here are the people who voted for this bad idea:
Rona Ambrose
Gord Brown
Bill Casey
Norman Doyle
Diane Finley
Loyola Hearn
Betty Hinton
Rahim Jaffer
Gerald Keddy
Gary Lunn
Peter MacKay
James Moore
Rob Nicholson
Jim Prentice
John Reynolds
Darrel Stinson
[edit: 17th was Belinda.. ]
posted by Watch at 5:11 PM
4 Comments:
Yeah I agree, let's treat everyone the same here. It may be irresponsible, but it shouldn't be harder for students to declare bankruptcy than it is for some gambling junkie
6:36 PM
The reason why the 10-year limit is there is quite simple: if no limit existed, no financial institution would ever loan any student any money.
We have no credit (or bad credit) in most cases. Why would banks take a risk on us?
It's becuase the government promised them they would be protected in case we all decided to take the easy way and declare bankruptcy.
Unless you want governments themselves to be back in the business of handling all aspects of all student loans, I suggest you rethink your stance on this issue.
(Someone gambling away $80,000 would be doing it on his/her own credit, and not on the government's.)
6:48 PM
As I wrote in response to the CPC Policy declaration, I think the CPC should encourage lower student loan limits. If we are a party of fiscal responsibility then should we not try and create fiscally responsible Canadians?
11:37 AM
Bluetory is right.
If people were allowed to declare bankruptcy immediately after graduation (as they used to be allowed to do) nobody would lend students money.
I disagree with Mark. If anything, student loan limits should be increased. Low student loan limits represent a barrier to education for students from poor families.
Either we give them the money - through free tuition, or more grants - or we allow them to borrow it.
Borrowing it is clearly the more responsible solution.
11:47 AM
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