The federal government has announced plans to write over nearly $344-million is student loans that officials no longer expect to recover from student loan recipients.
Loans are deemed uncollectible by the feds for a number of reasons, such as the debtor filing for bankruptcy, cannot be located, or the loan itself has passed the six-year legal-limit mark on collection.
In 2017, the government wrote off $178.4-million in student loans and in 2015 $295-million in student loans were written off.
That amount is part of more than $6.3-billion in student and business loan write offs, a figure that marks a new high for the Trudeau government.
The feds have written some $3-billion in loans in each of the past two years, according to figures contained within annual public documents.