As of November 1, no single Canadian will have to repay their Canada Student Loan until she or he is earning at least $25,000 per year...

The federal government is taking steps to prevent student loans from becoming an overwhelming burden. As of November 1, no single Canadian will have to repay their Canada Student Loan until she or he is earning at least $25,000 per year.

Borrowers who are having difficulty making their monthly Canada Student Loan payments can apply for help through the Repayment Assistance Plan. Depending on factors such as income and family size, borrowers can get approved for a reduced monthly payment on their Canada Student Loan, or be approved for no monthly payment at all.

This relief is in addition to increased supports for students through the Canada Student Grants. As of August 1, Canada Student Grant amounts have been increased by 50 percent:

• From $2,000 to $3,000 per year for full-time students from low-income families;

• From $800 to $1,200 per year for students from middle-income families; and

 • From $1,200 to $1,800 per year for part-time students from low-income families. Full story...

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