Frequent flyers listen up! If you can afford to take a plane wherever you please but can't afford to pay off your student debt, then OSAP has got your back. This past Wednesday, OSAP announced they were teaming up with Air Canada and American Express Aeropoints to create a program entitled Higher Ed Points, a plan that rewards loyalty members with money off their student loan.
35,000 Aeroplan points comes out to about $250 off your debt. The plan “will offer students and graduates another innovative way to invest in themselves and their future,” says MPP Reza Moridi. Almost all GTA schools and even some out of province institutions , like the University of Manitoba and Mount Allison, have signed on board for the plan.
To be honest, the whole thing seems quite precarious. On the one hand, it's great that people can redeem their points to give to students in need of financial aid. On the other hand, it's a little weird that already well-off families are being rewarded with a plan to save money. It doesn't seem like a productive program for OSAP to put their money and time into. What do you think?