When do you have to repay student loan debt?
There are over 100 universities and colleges in Canada for students to pursue higher education. These educational institutions offer over 15,000 different programs of study for undergraduate, graduate, doctorate degrees, and certificates and diplomas. But, post-secondary school tuition isn’t cheap.
Many Canadians take out student loans from the federal government, provincial governments, private lenders, and banks to cover tuition fees. Unfortunately, many student loan borrowers still struggle to pay off their debt, even years after graduation. COVID-19 enhanced those struggles, with the 355,000 jobs lost in Canada last year and disproportionate financial effects of COVID-19 for younger Canadians.
Here we’ll discuss everything you need to know about student loan debt, including the cost of education in Canada, student loan debt compared to other forms of debt, student loan debt forgiveness, and more.
Post-secondary education in Canada is generally cheaper than in the United States. (περισσότερα…)