NDP to Push for Cancellation of Federal Student Debt, Increased Loan Limits
Government Announces Increase in Forgivable Student Loan Amount
Ottawa, ON - The New Democratic Party (NDP) announced on Saturday that it will pressure the Liberal government to cancel up to $20,000 in federal student debt for qualified borrowers.
In addition, the NDP is calling for the weekly maximum Canada Student Loan limit to be increased from $210 to $350. This would provide much-needed financial assistance to students struggling with the rising cost of tuition and living expenses.
The Government of Canada recently announced that the maximum amount forgivable under the Canada Student Loans Persistent or Prolonged Disability (PSLPD) program will increase by 50%. This change will come into effect in November 2023.
Starting in 2023, the maximum amount of forgivable Canada Student Loans will increase by 50%. This change will apply to all new and existing borrowers.
The NDP's proposal and the government's recent announcement have been welcomed by student advocates. They argue that these measures will help to reduce the burden of student debt and make post-secondary education more accessible to all Canadians.
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