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 government manages huge amounts of bucks into the Canada student education loans program, and whether it is helping pupils be smarter about their monetary choices, newly disclosed papers show.

The audit, anticipated by April, can look at exactly exactly how effectively two divisions active in the program — Employment and personal developing Canada therefore the Canada Revenue Agency — have managed “risks to your general public treasury” in doling out cash to pupils.

Another product within the review could be the departments’ “collection activities of student education loans, ” and a third type of inquiry will evaluate how good the Financial Consumer Agency of Canada spent some time working to enhance students’ monetary literacy.

As the auditor general’s report won’t be out for months, high-level information on the review come in a briefing note acquired because of The Canadian Press beneath the use of Suggestions Act.

The document ready when it comes to top servant that is civil Employment and personal Development Canada notes that work regarding the review is underway since May 2019.

The auditor general’s workplace generally doesn’t remark on reviews until they become general public and declined to go over this 1, calling it “premature” to do this.

Likewise, ESDC stated in a declaration it absolutely wasn’t “at liberty to reveal information related to an audit that is ongoing” as the Financial customer Agency of Canada listed its efforts, including resources provided to class room instructors and financial-aid workplaces, whenever expected for just about any information as to how well the agency has performed. Continue reading “Canada education loan system to manage scrutiny of auditor general”