A re-elected Liberal government will help students pay for college and university, and give them more flexibility to pay back their student loans.
Right now, the price of tuition is rising faster than students can keep up with. The costs of rent, books, and groceries — along with cuts to OSAP by Doug Ford — are putting financial pressure and stress on students and new grads. The personal debt for an average person under 36 is higher than it’s ever been before.
“Spadina-Fort York is home to a lot of students and recent grads. It’s a time of life that can be stressful with student loans, entry-level salaries, and maybe even a new family of your own. Which is why we’re going to give them the help they need so they can pursue their passions and secure their future,” said Adam Vaughan.
A re-elected Liberal government will help more students prepare for good jobs while taking on less debt.
- We will give students up to $1,200 more, per year, by increasing Canada Student Grants by another 40 per cent, to help with the rising cost of tuition, books, and rent;
- We will give students two years after graduation to get started before they need to begin paying off their student loans, interest free; and
- We will allow new parents to pause student loan repayments — with no interest — until their youngest child reaches the age of five.
Since 2015, our government has helped make college and university more affordable and accessible by:
- initially increasing Canada Student Grants by 50 per cent, which put up to $1,000 more in the pockets of students who needed it;
- reducing interest costs on Canada Student Loans, saving the average student $2,000 throughout their education;
- introducing new grants to help adult students and students with children;
- boosting the repayment assistance plan so that no student who makes less than $25,000 has to start repaying their loan; and
- helping those on EI to go back to school without losing their benefits.
“Like Doug Ford and Blaine Higgs, Andrew Scheer will cut support for college and university students,” said Mr. Trudeau. “But what the Conservatives fail to understand is that the greatest investment we can make in our future is in education and training. We won’t make their same mistakes.”