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DID YOU KNOW:

Canadian post secondary students currently owe $28 billion in student loans. 

Bills and Coins

FACTS & FIGURES:

The average rate of student debt upon graduation has been steadily increasing.

Digital Calculator
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WHO DOES THIS IMPACT?

#1: 54% of all Canadian post-secondary graduates owe debt at the time of their graduation.

#2: 45% of students reported that they owed $25,000 in at the time of their graduation.

WHAT'S BEEN DONE?

2016: 

  • The Government of Canada increased Canada Student Grants by 50% 

  • The Government of Canada increased the Repayment Assistance Plan eligibility threshold, ensuring that graduates earning less that $25,000 do not have to begin paying back their student loans 

 

2019: 

  • The variable interest rates on Canada Student Loans were reduced from the prime interest rate plus 2.5% to the prime interest rate

  • The fixed interest rates on Canada Student Loans were reduced from the prime interest rate plus 5% to the prime interest rate plus 2% 

2020: 

  • In response to the COVID-19 pandemic, the Government of Canada doubled their investment in Canada Student Grants for the 2020 year

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WHAT'S NEXT?

x2 investments in Canada Student Grants
2 year grace-period on Canada Student Lo