OTTAWA — The New Democrats’ campaign-style pledge this spring promised to cancel up to $20,000 in tuition, freeze loan payments through July 2022 and scrap interest payments, among other measures.
In a report released Wednesday, parliamentary budget officer Yves Giroux said the proposal would amount to $3.95 billion over five years, with the reduction of as much as $20,000 per student borrower by far the priciest plank.Giroux also calculates that the plan’s extension of the non-repayment period from six months after graduation to five years would actually cut more than $400 million in upfront government costs. The NDP’s announcement of the plan in March came ahead of a possible election this year as federal parties prepare to battle it out for the hearts and ballots of young voters.
Statistics Canada found last fall that more than 60 per cent of post-secondary students were concerned about using up their savings and taking on more debt. The Liberals imposed a moratorium on Canada Student Loan payments between April and September 2020, but the freeze has long since thawed and student groups have urged Ottawa to suspend payment obligations again.
NDP Leader Jagmeet Singh said Wednesday forgiving student debt would be an economic driver to jumpstart opportunities amid the COVID-19 pandemic and provide recent graduates with relief from “crushing debt.”
Source: ctvnews.ca
Monday, April 20, 2026
