student loan interest rates

Canada Student Loans Go ZERO INTEREST!

Sometimes, change seems to take forever when suddenly, bang!

After several decades of debate, the interest charges on both Canada Student Loans and Canada Apprentice Loans were effectively ended yesterday (November 3, 2022). 

Canada had a Covid-pandemic pause on student loan interest charges that was set to last through March, 2023. The new zero-interest policy takes effect starting April, 2023, replacing the Covid pause.

Revealed in Freeland's mini-budget




The Price is Wrong: Part 2

 

In the last post, I gave up my neutrality and urged Canadian students to just say NO to today's fixed-rate student loans.

Most governments are over-charging to the point where these loans will almost certainly cost you thousands of dollars more than variable (floating-rate) loans.

Fixed-rate student loans normally cost a bit extra because you're getting the security of locking in today's student loan interest rate, so it won’t go up in future.




Canada’s Hidden Tax On Low-Income Students

 
I like to mix up our blog topics. But we need to return to this student loan interest theme because it’s costing Canadian students billions.
 
Let’s do the math.