Government of Canada Delivering for Students in Brampton
MP for Brampton South says Canada is headed in the right direction for Brampton’s talented youth
As of today, November 1st, the Government of Canada has eased the rules on its Repayment Assistance Plan by ensuring that no borrower will be required to make any repayment until he or she is earning at least $25,000 per year. This will allow students to complete their studies with the confidence of knowing that debt repayments will not become an overwhelming burden.
Member of Parliament for Brampton South Sonia Sidhu commented, “This is great news for young people like those I meet in Brampton South. I commend the Government for delivering on our campaign promise of decreasing the student debt burden, which makes a real difference in the lives of everyday Canadians – especially low-to-middle income families in my riding.”
MP Sidhu also highlighted how the commitments made in Budget 2016 for post-secondary will benefit the future students of the recently announced University site coming to Brampton. This post-secondary site will help train the skilled workforce of tomorrow in order to meet the future needs of Brampton and Canada.
“Firstly, I just wanted to welcome the announcement of the new University site in Brampton! Also, I recently had the first meeting of my Brampton South Constituency Youth Council – a remarkable, diverse, intelligent group of young people who help advise me on how the policies we implement today affect their generation. They told me that this student debt repayment change makes a difference for people they know, and will provide more flexibility needed to transition into the workforce. Budget 2016 helps young Canadians gain experience and extra income, and find good jobs after graduation. ”
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- · News Release
- · Repayment Assistance Plan – overview
- · Canada Student Loans
- · Provincial and Territorial information
- · The student debt repayment investment is approximately $131 million over 5 years.
- · Budget 2016 provided the first significant increase to Canada Student Grants and the Repayment Assistance Plan income thresholds since 2009.
- · Increases to Canada Student Grants are expected to benefit 237,000 students from Ontario.
- · The increase to Canada Student Grants will provide assistance of $1.53 billion over five years.
- · According to Statistics Canada, over a 20-year period, students with a bachelor’s degree will earn between $442,000 and $728,000 more than someone with only a high school diploma.