Provenzano: National Learning Passport gives students cash

NEWS RELEASE

CHRISTIAN PROVENZANO LIBERAL CANDIDATE SAULT STE. MARIE & AREA

************************* Provenzano says investment in learning critical to Sault Ste. Marie’s future

SAULT STE. MARIE, ON - Christian Provenzano, Liberal candidate for the Sault Ste. Marie area, said today that the Liberal Party is committed to an investment in learning that will empower communities in Northern Ontario.

“We need more of our young people to stay and build their lives here in our community,” said Provenzano. “Today, we have the opportunity to make that happen through an investment in education that gives people the tools to succeed. We will bring Northern Ontario into the knowledge economy.”

Today, many families in the Sault Ste. Marie area struggle to meet the costs of higher education.

With education costs continuing to rise, higher learning is slipping beyond the grasp of too many middle-class Canadian families.

“For me, higher education is not only the key to economic growth; it’s the path to personal opportunity,” Provenzano remarked. “It is of critical importance that we invest in institutions like Algoma University and Sault College and that we also make important strides in Aboriginal education. We need to make that sure no one gets left behind when it comes to learning in our community. If you get the grades, you should get to go. The Liberal Party stands behind that commitment.”

To help students address the escalating costs of post-secondary education and rising student debt levels, a Liberal government will invest $1 billion of new funding annually in the new Canadian Learning Passport, the single largest annual investment in non-repayable federal student assistance in Canadian history.

The Learning Passport will provide $4,000 tax-free to every high school student who chooses to go to university, college or CÉGEP, $1,000 per year for four years.

Students from low-income families will qualify for $6,000 or $1,500 for each year of study.

A reduced amount will also be provided to part-time students.

The low-income threshold will be defined using the same criteria as the existing RESP system.

Learning Passport funds will be provided to students through the Registered Education Savings Plan (RESP) program.

To receive Learning Passport funds, a student only needs to have an RESP account opened in their name; no additional financial contribution into the RESP will be required by the student or their family.

The Learning Passport will be $1,000 in every RESP account in each of the four years leading up to the typical start of post-secondary education, when the recipient is 14 to 17 years of age.

For low-income families, the amount will be $1,500 in each of those four years.

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