Archive for Ishmael Daro
Federal government writes off $540-million in student loans
The federal government is writing off $231-million in unpaid student loans after exhausting “all reasonable efforts” to track down the money from more than 44,000 cases by 2012-13. The government absorbed even greater losses of about $312 million the year before. That’s half a billion dollars in just a couple of years.
The government has essentially thrown its hands in the air and given up on ever seeing a dime of that money, meaning a lot of people can start answering their phones again without fear of getting harassed by debt collectors.
Now, as someone who actually paid income taxes a few years ago, I am outraged that all these deadbeats are costing the public purse hundreds of millions each year. But as someone currently taking loans to fund my education, this gives me some hope of avoiding the full bill.
Saskatchewan cuts millions while former execs get paid
There’s a bit of panic these days at the University of Saskatchewan. Secretaries who gave decades to the school are now boxing up their desks and students are worried about the quality of their programs as the university chops its way out of a budget deficit projected at $44.5-million by 2016.
In November five administrative staff from humanities and fine arts were fired. Then the university announced the closure of a remote campus,* leaving students in certain disciplines unsure whether they would graduate on schedule. Last week, 40 more job cuts were promised.
Adding insult to injury is that a couple of guys who helped run the university right before this crisis are receiving a combined $1.3-million from the budget after leaving, reports the StarPhoenix. And that doesn’t include pension contributions.