Canada, provinces announce changes to student loan repayment

The Government of Canada has announced changes to the Canada Student Financial Assistance Program’s repayment assistance program that are expected to bring more flexibility to students and apprentices. These enhancements include an increase to the zero-payment threshold for single borrowers, alignment of repayment income for larger households with Canada Student Grant income thresholds, and a reduction to the monthly student loan payment cap. “Starting today, more graduates can focus on building their careers instead of worrying about student loans,” said Carla Qualtrough, Canada’s Minister of Employment, Workforce Development and Disability Inclusion. The changes are also being made by the provincial governments of Manitoba, Newfoundland and Labrador, Saskatchewan, New Brunswick, and Nova Scotia, according to City News. NB announced that it had eliminated interest on provincial student loans as well, effective at the start of November. City News| NB| Global News| SK Note: Archived stories may contain dead links or be missing source links.