NDP announces plans to cancel up to $ 20,000 in student loan debt by Canadian – Saanich News

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NDP Leader Jagmeet Singh renews his address to young voters, promising that an NDP government would waive tuition fees of up to $ 20,000.

Singh says that, if elected, he would also freeze federal student loan payments until the pandemic is over and write off interest on student debt.

The announcement, which will be presented today as a campaign-style pledge ahead of a possible election this year, comes as federal parties prepare to fight for the hearts and ballots of young voters.

Statistics Canada found last fall that more than 60% of post-secondary students feared running out of their savings and taking on more debt.

The Liberals imposed a moratorium on Canada student loan payments between April and September, but the freeze has long been lifted and student groups have urged Ottawa to suspend interest obligations again.

Singh says the government has “taken advantage of the backs of young people” by receiving more than $ 4 billion in interest payments since 2015.

“Young people are making student loan payments the size of mortgage payments – they spend years in crushing debt, unable to move forward. And the COVID-19 pandemic has only made matters worse, ”he said in a statement.

“Education should help young people move forward, not leave them further behind.

Singh also reiterated his commitment to work with provinces and territories towards tuition-free post-secondary education.

Canada Federal Politics NDP Leadership

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