Canada Student Loans Program Association of Student Awards Personnel of British Columbia April 4, 2019

Overview Update on Previous Budget Initiatives Budget 2019 Transformation Update

Update on Previous Budget Initiatives

Increased Uptake in 2017-18 Canada Student Grants Canada Student Loans Up 29% to 490,000 students Up 35% to $1.4 billion Canada Student Loans Up 19% to 592,000 students Up 28% to $3.4 billion

Early Results from 2018-19 School Year At the end of January 2019, more than 57,000 eligible students have received the top-up grants, for a total amount of $78 million; From August 2018 to January 2019, compared to the same period last year, the amount of grants and loans disbursement grew by 18% and 7%, respectively.

Increase in Repayment Assistance Plan The number of borrowers benefitting from RAP increased by 7% from 306,000 to 326,000. The average loan balance at time of leaving school was $13,416 for represents a slight decrease from 2016-17 ($13,456).

Budget 2019

Budget 2019: Make CSLs More Affordable Lower the interest charged on CSLs Variable: from prime + 2.5% to prime Fixed: from prime + 5% to prime + 2% Interest-free grace period $1.7 billion over 5 years

Budget 2019: Make CSLs More Accessible Increase the Canada Student Grant for Services and Equipment for Students with Permanent Disabilities from $8,000 to $20,000 per year Expand eligibility for the Severe Permanent Disability Benefit Remove the restriction to access additional grants and loans for recipients of RAP-PD

Budget 2019: Make CSLs More Accessible (cont’d) Facilitate loan rehabilitation Interest- and payment-free medical and parental leave of up to 18 months

Transformation Update

CSLP Service Transformation Update Over 260,000 online registrations since April 2018 Convenient and secure Customer Service Knowledge Management feature

Update on CSLP Transformation Spring Release Fall Release 2019 Release 1 Release 2 Release 3 Release 4 2020 Release 1 Release 2 Release 3 Release 4 2021

Upcoming Launch of new features: June 2019 Part-time students: online ID verification and MSFAA + ability for EIs to confirm enrolment through the NSLSC ECE portal; New registration On-boarding Modify profile information, update banking information online and link to Financial Institution websites to make a payment; and Mobile friendly pages and overall improvement across the NSLSC website and student hub experience.

Users complete the five step process. Part-time MSFAA Users complete the five step process. Step 4: Review Step 2: Communication Preference Step 5: Terms and Conditions Thank You Page Step 1: Personal Information Step 3: Financial Institution Information

Electronic Confirmation of Enrolment Portal Archive Queue Generated Report Master Queue My Queue

Migration to new Secure Log-in

Migration to new Secure Log-in

Student Hub – Improved Viewing

Student Hub – Mobile Friendly

Student Hub – Mobile Friendly

Student Hub – Improved Functionality

Student Hub – Improved Functionality

Student Hub – Improved Functionality

Student Hub – Improved Functionality

Customer Service Knowledge Management Tool

Future Enhancements Digitization of communications Ability to upload and store documentation on the secure website Improved payment functionality Use of text notifications Secure e-mail and chat ECE Portal modernization

Training for Educational Institutions Updated version of the ECE Portal training guide New eLearning modules