NDP to Push for Cancellation of $20,000 in Student Debt per Canadian
Canada Emergency Student Benefit to Continue
Government Increases Student Loan Limit, Forgivable Amount for Doctors
OTTAWA, ON - The New Democratic Party (NDP) has announced that it will pressure the Liberal government to forgive up to $20,000 in federal student loan debt for each Canadian. This move is part of the party's comprehensive plan to support young people facing financial challenges.
The NDP's proposal echoes similar initiatives implemented in other countries. Most notably, President Joe Biden recently announced that his administration would cancel up to $20,000 in student debt for low- and middle-income borrowers in the United States.
In addition to the student loan forgiveness measure, the NDP is also calling for an extension of the Canada Emergency Student Benefit (CESB), which provides financial assistance to students and recent graduates who have been unable to work due to COVID-19. The party is also proposing an increase in the weekly maximum Canada Student Loan limit from $210 to $350.
The Government of Canada has implemented several other measures to support young Canadians and students affected by the pandemic, including increasing the maximum forgivable amount for doctors effective November 2023. Eligible doctors can now receive up to $60,000 in loan forgiveness.
The NDP's proposals have been met with mixed reactions. Some experts argue that student loan forgiveness would disproportionately benefit high-income earners, while others contend that it is a necessary measure to alleviate the financial burden faced by young Canadians.
The Liberal government has not yet indicated whether it will support the NDP's proposals. The issue of student debt is expected to be a key topic of discussion in the upcoming federal election.
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