As part of its fall fiscal update tabled Thursday, the federal government says it will permanently eliminate interest on all federal student loans and apprentice loans beginning on April 1, 2023, including loans currently being repaid.From our newsroom to your inbox at noon, the latest headlines, stories, opinion and photos from the Toronto Sun.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
The fall economic statement says an average student loan borrower will save $410 per year as a result of their loan being interest-free.More than 1.8 million Canadian students owe the federal government a total of $20.5 billion, based on 2019 data from the Government of Canada website, with the average loan balance at about $13,367 at the time of leaving school.
The permanent elimination of interest on federal student loans was a Liberal campaign promise during the last federal election.
lets everyone become students to get free of charge money
How does this help lower my taxes?
Between this woman and trudeau, the two most hated people in Canada!
JustinTrudeau buying votes again.
This is excellent. An educated and trained population is good for the economy.
It wouldn’t bother me so much but I’ve see. So many students take loans they don’t need and suddenly are able to go on nice spring break vacations.
Bad idea
Ottawa just passed this onto all taxpayers some of whom never went to school because they couldn’t afford it. JustinTrudeau, cafreeland and the liberal_party are absolutely bankrupting all Canadians
NO
I can't stand this condescending, elitest b*tch.
Socialists destroy countries!!!
so i have to pay for student loans ?!!
This is one thing I agree with - students have such heavy debt after finishing university and it is already so difficult for them to buy a home.
The higher inflation goes the quicker the great reset arrives!
I hope Ms Free’s PERMANENT is a lot more accurate than Bank of Canada Macklem’s TEMPORARY Inflation from last year? ..I would have been quickly PERMANENTLY DISCHARGED for bungling that up!
Sure let's give the entitled twats with useless degrees a break
Why pay it off ?
This is a good thing.
desparation
WTF
It’s the loan that matters, not the interest.
I’m 64. I think I’m going back to school.
jeannetix_ Now if they’d get rid of the carbon tax.
Paid for Canadian Taxpayers without consultation. And by their children and grandchildren and great grandchildren.
And we pay for it
Good move!
So tell us..who pays for the interest on the money the Trudeau Govt BORROWS to fund student loans?
Vote grabbing
Putting a dirty bandaid on the sore they created is the Liberal way. Buy your votes from the Dummy Apocalypse. It has worked in the past. TrudeauMustGo
I bet she takes it up the....🤔
Liberals are looking for student votes. Let’s hope students don’t forget what Trudeau mandated and forced them to do.
As if we can afford this shite. Going down the same path as Biden.
Free them from interest then nail them with ballooning costs; taxes to pay for Govt debt that their grandkids will be paying,housing that they will never be able to afford,with sky high food bills if they want to eat anything besides crickets. Don’t Trust Liberals
So what will motivate students to pay their loans? I say give them grace for a certain period and then interest kicks in. There needs to be incentives for payments to be done regularly & banks will stop giving loans, nothing in it for them, so only the affluent will go to uni.
'Sweet candy' after a sour pill Of the mid term a 'fallen' budget To make you little better fill After your taxes were snatched...
She’s hard to stomach
Couldn't find a jacket to fit?
I’m going back to school
Canadian SME’s NEEDS SUPPORT for recovery just like the Humanitarian Support your giving out to other countries cafreeland JustinTrudeau! CP24 CBCBusiness PierrePoilievre CFIB
I’m alright with this as long as anybody who wants it can get it
Evil liberals slowly starting to buy votes for next election. The Joe Biden way, debt doesn't matter.
Rich commies putting the burden on the workers
And who's going to pay for that? us, as usual! 🖕🏻 TrudeauMustGo
People who want the government to pay their way for them aren’t going to be satisfied by this and people who want others to pay back what they’ve taken aren’t going to be satisfied with this. Who’s going to be satisfied?