PRINCE GEORGE— On Thursday, November 3rd, 2022, the Federal Government announced the elimination of interest on student loans. This change will bring financial relief to thousands of Canadians across Canada.
“This huge victory will benefit the thousands of students chasing their dreams while providing for themselves and their families,” said Darian Meesto, the Indigenous Students’ Representative for the CNCSU. “People that are passionate about a goal can actually stand a chance to overcome post-secondary expenses. It’s about time the government takes off the interest because having a great nation should be a two-way street. With that said, from a student’s perspective, this change says that we can live and educate ourselves in a country that does not always have to make a profit off of me.”
Student debt in BC has risen 88% since 1999, and the average student loan balance upon graduation is over $30,000. Studies show that student debt holds young people back not only professionally, but also in other important ways: because of rising debt, recent graduates in Canada are delaying major life events like getting married, buying a home, or starting a family.
“Student activists across the country have been urging the government to take action on this for years, and we are thrilled that the government has listened to our call,” said Melissa Chirino, Chairperson of the BC Federation of Students (BCFS). “This is an important step towards mitigating student debt; it will not only help current and future students but also those who graduated who are struggling to make loan payments.”
The CNCSU team is proud to say that the work of our members contributed to making positive changes for students across Canada. The Union is currently making plans for celebration and will continue to look towards what we can do to make lives better for students.
For more information, please contact: Damon Robinson, Membership Outreach Coordinator firstname.lastname@example.org | (250) 561-5852