If you’ve attended post-secondary school, or have applied to post-secondary school, you’ll know that it is expensive.
And because the costs are so high many student have had to take out a student loan of some size in order to pay for your education, which of course means they'll have to pay it all back.
But there’s an online movement to try and make those loans easier to pay by getting rid of the interest charges on them.
The Canadian Federation of Students has launched a petition asking the federal government to stop making students pay interest on the student loans that they take for school.
Currently Canadian students owe over $28 billion in student loans.
According to the petition, “this year, the government of Canada is projected to generate $862.6 million in revenue from the Canada Student Loans Program (CSLP). This isn’t right. It’s time for the federal government to eliminate interest rates on CSLP loans.”
Right now there are 4 Canadian provinces that do not charge any interest on student loans. Manitoba, Nova Scotia and Prince Edward Island do not charge interest on their provincial loans. Newfoundland and Labrador offers non-repayable grants.
B.C. will soon also stop charging interest on student loans.
The purpose of this petition is to stop the charging of student loans in the rest of Canada as well so that everyone who goes to school only has to worry about paying back the actual cost of the program they sign up for.
If you’re interested you can sign the petition here.