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Federal Budget Considerations for Colleges, 1998.

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This document highlights federal budget considerations for colleges of applied arts and technology in Ontario, Canada. A key focus of the budget is the Federal Government's Canadian Opportunities Strategy, which supports the acquisition of skills and knowledge required for the 21st century. The budget's emphasis on education over other social policy issues or health care indicates that education has become more politically attractive because it is perceived as an investment rather than an expense. Some general observations are made, including the inclusion in the budget of the Registered Education Savings Plans, which allow parents to save for their children's education, study grants for full- and part-time students with dependents, and new scholarships for students starting in 2000. The document highlights several items related to financial assistance for students, including: (1) the Millennium Scholarship Foundation, which distributes scholarships averaging $3000 a year for undergraduate degrees, diplomas, or certificates; (2) Canada study grants for students with dependents; (3) student loan repayment measures, including a 17% federal tax credit on payments of the interest portion of federal and provincial loans; and (4) measures intended to support families and students in meeting the costs of higher education, such as tax free withdrawals from Registered Retirement Savings Plan. Measures to increase youth employment, such as an employment insurance premium holiday, are also mentioned. Tax credit and deductions are also outlined as further measures to support continued education. (JJL)

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Publication:ERIC: Reports
Date:Jan 1, 1999
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