Original language of petition: English
The Government of Canada recognizes the challenges students face in accessing post-secondary education and is committed to ensuring that post-secondary education remains affordable and student debt manageable. The Government also recognizes that challenges have been compounded and exacerbated by the COVID-19 pandemic.
The Canada Student Loans Program (CSLP) provides needs-based and targeted Canada Student Grants (CSG) and Canada Student Loans (CSL) to help students’ access post-secondary education, and offers the Repayment Assistance Plan (RAP) to borrowers experiencing financial difficulty.
Over the last year, in recognition that post-secondary students and their families may be facing financial hardship during the pandemic, the Government of Canada brought forward a number of enhancements to the CSLP. First, from March 30, 2020 to September 30, 2020, no interest was charged on CSLs and Canada Apprentice Loans (CAL), and no payments were required. This relief measure was automatically applied and benefited approximately 1.1 million students in repayment. The Government has also taken steps to ensure that borrowers who continue to face financial challenges following the end of the repayment freeze are aware that if they apply for RAP, no payments would be required if they are making less than $25,000 per year.
Furthermore, the Government introduced:
Finally, in the November 2020 Fall Economic Statement, the Government announced the temporary elimination of interest on CSLs and CALs, in order to ease the financial burden of student loan repayment during the economic recovery. Pending parliamentary approvals and at a cost of$329.4 million, this measure would take effect on April 1, 2021, and be in place for one year, bringing much needed relief to 1.4 million Canadians who are in repayment of their federal student loans.
These historic investments, combined with other investments made in recent years, signify the Government of Canada’s ongoing commitment to ensure that post-secondary education is affordable and that student debt is manageable during these challenging times.
Only validated signatures are counted towards the total number of signatures.
|Province / Territory||Signatures|
|Newfoundland and Labrador||5|
|Prince Edward Island||1|