Currently, students have access to a myriad of supports to finance their post-secondary education, including assistance provided by the federal and provincial governments, as well as private lenders and personal resources. For its part, the Government of Canada makes an important contribution towards helping students deal with the cost of post-secondary education by spending some $2 billion each year through the Canada Student Loans Program and other grants, bursaries, and scholarship programs. This is in addition to federal tax support for students and their families, and the substantial support provided to students through provincial and territorial student aid programs.

Although these student financial assistance programs have been effective in supporting access to post-secondary education for hundreds of thousands of learners, students are faced with a patchwork of federal and provincial programs that are often difficult to understand and access. This complexity may keep potential students from obtaining financial help or may even seriously affect their decision as to whether to participate in post-secondary education. Addressing this complexity will become increasingly important as demand for post-secondary education and student financial assistance increases.

In Advantage Canada, the Government committed to working with the provinces and territories to modernize and simplify the administration and delivery of student aid in order to make supports more effective, transparent and predictable. Budget 2007 launches a review of the Canada Student Loans Program (CSLP), in consultation with provinces, territories and stakeholders. The process, to be led by the Minister of Human Resources and Social Development, will result in changes that will be announced in Budget 2008 to simplify CSLP instruments, make them more effective, and ensure integrated administration and efficient delivery.

http://www.budget.gc.ca/2007/bp/bpc5de.html#student - http://www.budget.gc.ca/2007/bp/bpc5de.html#student