Canadian tech training programs, like many others in Canada, have seen their revenues drop over the past year.
The total amount of debt the schools are in default on is nearly $4 billion.
“A lot of our graduates have to borrow money to go to school,” said Dave Taylor, CEO of the Ontario Tech Training and Innovation Association.
“There is a big risk that some of these schools are going to default on their debt.”
Tech training schools that have taken on debt have become a big part of the economic woes facing Canada’s most recent generation of immigrants, who are largely from low-income countries.
Some tech training companies in Toronto and Vancouver, for example, have shut down or shuttered in the past few years, and are now operating as a virtual office.
Some schools in the GTA are also shutting down, with many having gone into receivership.
Canada has a long history of struggling to keep its tech training industry alive, as tech workers are increasingly looking to cheaper countries to go.
As a result, the sector is struggling to attract the skilled workers it needs to keep up with the economic downturn.
Canada’s government and tech industry groups have tried to tackle the problem with a variety of measures.
In 2016, the government created a pilot program for a Canadian tech trainee visa, which allows skilled immigrants to work in Canada without having to go through an application process.
That program was meant to help students with family connections to work, and to provide training to help companies hire more Canadians.
In 2017, the country also launched a pilot project that allows companies to hire graduates from abroad who are working on a permanent visa.
However, that program has not been fully rolled out, and is being phased out in 2019.
The federal government has also stepped up its efforts to recruit more graduates from outside Canada.
In 2019, the Canadian Council of Chief Executives, a trade association that represents the country’s big tech companies, launched a $10-million campaign to encourage companies to find more Canadian graduates to help them train and recruit more staff.
The group is calling on employers to send an application to their tech training and innovation agencies, which would be vetted by the Canadian government.
The campaign has also called on employers who hire tech graduates to pay them as much as $2,000 for the first year, which can increase to up to $4,000 per year.