Federal New Democrats Promise Students They Will Cancel Interest on Student Loans

Yuk-Sem Won is running for the Thunder Bay Rainy River Riding for the NDP
Yuk-Sem Won is running for the Thunder Bay Rainy River Riding for the NDP

THUNDER BAY – Today, the New Democrats announced a plan to cancel the interest on all existing and future student loans.

The NDP says that “Over the last four years, Trudeau’s Liberals have taken almost $3 billion from graduates in interest payments – profiting from skyrocketing student debt. That’s not the only challenge students in Ontario have been facing. Recent provincial cuts to education have forced students to face choices like leaving their programs, working more hours to try and afford tuition, books and rent; or trying to access crippling loans to make ends meet.”

“Many students have been talking to me about the negative, and sometimes devastating impacts on their access to education this year,” said NDP candidate Yuk-Sem Won (Thunder Bay–Rainy River). “Instead of helping students, Trudeau’s Liberals have been profiting off their backs. This is heartbreaking. An NDP government will give young people relief by eliminating interest on current and future student loans.”

Under the watch of Liberal and Conservative governments, the costs of post-secondary education have continued to rise – and the government has continued to profit from it. To make life better for students and families, the NDP commits to work towards free tuition. This will ensure accessible post-secondary education for all, regardless of income.

“The future of our region depends on our students who want to learn, grow and build a better future,” said Won. “Governments have a responsibility to ensure that post-secondary education is accessible for all students, including those from the North. An NDP government is committed to a future where tuition is free.”