The amount of Canada Student Loans deemed by the federal government to be uncollectible this year is up by over $57 million more than last fiscal year, says a report from the Parliamentary Budget Office.
The increase represents a 34 percent increase from last year and is “over $50 million more than what was originally projected in the Chief Actuary’s report,” writes the Budget Office, as first reported by Blacklock’s Reporter. The federal government seeks approval from Parliament each year to write off student loans it believes are uncollectible.
This year the government is requesting approval for $227 million in write-offs over 23,000 debts it deems unrecoverable, says the report “Supplementary Estimates,” published on Feb. 23….