September 10, 1999
Canadian Government Tries to Cut Default Rate on Student Loans
In response to a sharp increase in the student-loan default rate, the Canadian government has started running credit checks on prospective borrowers.
The new rules call for all first-time loan applicants over age 22 to undergo a credit-history review for the preceding three years. About 38,000 students are expected to fall under the rules this year.
"The government wants to avoid lending money to people already in serious financial difficulty," says Gino Trifiro, a
This content is only for subscribers. You can gain access by purchasing a:
Print Subscription
Digital Subscription
Already have an account? Log In Now.
-
The Chronicle Review
-
Government
-
Advice
