Canada education loan system to manage scrutiny of auditor general

Canada education loan system to manage scrutiny of auditor general

Canada’s auditor general is examining the way the federal federal federal government manages huge amounts of bucks when you look at the Canada student education loans system, and whether or not it is assisting pupils be smarter about their financial decisions, newly disclosed documents reveal.

The review, expected by April, will appear at just exactly just how effortlessly two departments mixed up in program — Employment and Social developing Canada and also the Canada Revenue Agency — have managed “risks to your treasury that is public in doling out cash to pupils.

Another product when you look at the review could be the departments’ “collection activities of student education loans, ” and a 3rd type of inquiry will evaluate how good the Financial customer Agency of Canada spent some time working to boost students’ economic literacy.

Although the auditor general’s report won’t be out for months, high-level information on the review have been in a briefing note acquired by The Canadian Press underneath the usage of Suggestions Act.

The document ready for the top servant that is civil Employment and personal Development Canada notes that really work in the review happens to be underway since might 2019.

The auditor general’s workplace generally doesn’t remark on reviews it“premature” to do so until they become public and declined to discuss this one, calling.

Likewise, ESDC stated in a declaration it absolutely wasn’t “at liberty to reveal information related to a continuing audit, ” although the Financial customer Agency of Canada listed its efforts, including resources provided to class instructors and financial-aid workplaces, whenever expected for almost any information as to how well the agency has done. More →