CBC Digital Archives

Student loans: (non) repayment strategies

In 1968, Canadians first got their hands on credit cards, making it faster and easier to spend money they didn't necessarily have. Aside from their plastic, many Canadians also deal with the varying burdens of student loans, mortgages and all the other factors that contribute to personal debt. The CBC Digital Archives looks back on the times and troubles of personal debt in Canada, exploring how we get into debt and how we might avoid it.

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Since its inception in 1964, the Canada Student Loan Program has lent billions to students across the country. But as of 1994, almost $1 billion of that hasn't been paid back. Many students struggle to pay back their sometimes massive debts, but others find an easier way: just ignore it. In this report, CBC-TV profiles several students who owe their degrees to government and taxpayer-funded loans, and how the students are paying them back. Or not.
• The Canada Student Loan program was created in 1964 under the administration of Lester B. Pearson. Since its beginning, Canadian students have received over $15 billion in loans.
  • The student loans program was one of many landmark pieces of legislation Pearson enacted while in office, despite ruling with a minority government. Others included the Canada Pension Plan, universal health care and the adoption of the new national flag.

Medium: Television
Program: Prime Time News
Broadcast Date: Oct. 1, 1994
Guest(s): Kevin Campbell, Peggy Copeley, Jerry Godzo, James LeForte, Joel Livergant
Host: Pamela Wallin
Reporter: Matt McClure
Duration: 6:37

Last updated: October 18, 2012

Page consulted on September 10, 2014

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