Early today, Liberal leader Stéphane Dion visited the University of Western Ontario to make a special campaign promise.

Dion pledged $1.2 billion in an education strategy to boost research and reduce student loans.  He spoke in depth on the importance of education to the Canadian economy, and the need for us to be more competitive on the international trade scene.

I know very well that colleges and universities are critical to Canada’s economic success. A well-educated workforce is more important than ever because the challenge of the 21st century is building a sustainable economy … an economy based on innovation and creativity.

Students were especially interested in the student loan reforms Dion proposed.

According to the Ontario Undergraduate Student Alliance (OUSA), the average debt that a medical student at the UWO accumulates is between $80-100,000.  A 2004 report commissioned by the Deans of six Ontario law schools recommended increasing the loan cap for law students.

Dion said he would extend the repayment period from 6 months to 2 years, and reduce the loan interest rate to 0.5% above prime.