March 21st, 2021
Blaney and NDP plan to tackle student debt
Today, New Democrats presented their plan to help young people thrive instead of being buried in debt. The NDP plan includes putting a moratorium on student loan payments, cancelling up to $20,000 per student of federal student loan debt and giving new graduates a five-year head start without having to repay any federal student loan. While Justin Trudeau had to be forced to help students throughout the pandemic, the NDP has a plan that puts young people first.
“Graduates from our communities are making student loan payments the size of mortgage payments. They go off and finish school and then they’re saddled with crushing debt and can’t get ahead financially. This means its harder for them to plan for the future. They can’t buy a house or start a family or a business, and the pandemic has only made this worse. An education should help young people get ahead, not leave them further behind.” -MP Rachel Blaney (North Island – Powell River).
“Instead of helping young people, Justin Trudeau had to be forced by the NDP to give students support and then he essentially cancelled it out by stopping the moratorium on student loan payments. Justin Trudeau is refusing to tax the ultra-wealthy but he seems to have no problem taking money from hardworking students. Our plan makes education more affordable and gives support to young people who really need a break.” -MP Alistair MacGregor (Cowichan–Malahat–Langford).
The NDP reiterated its commitment to work with provinces and territories towards tuition-free post-secondary education and to re-instate the moratorium on student loan payments – cancelled in September by the Liberals – until the pandemic is over. The NDP will also permanently remove interest on all federal student loans.
“Since Justin Trudeau has been Prime Minister, the Liberals have made over $4 billion off the backs of students in interest payments. Our economy won’t recover if young people have to pay hundreds of dollars in loan payments every month and another fortune to the federal government just in interest. New Democrats are committed to a future where tuition is free and where no one needs to take on debt to get an education.” -MP Gord Johns (Courtenay–Alberni).