NDP promises to remove interest on federal student loans

Oct 8 2019, 9:56 am

NDP Leader Jagmeet Singh says he would immediately remove all interest on federal student debt.

He says an NDP government would also start replacing student loans with grants that are non-repayable, moving toward free tuition.

Singh highlighted those promises today, as well as a pledge to put a cap on cellphone bills and creating more affordable housing, as a way to woo young voters.

The parliamentary budget office estimates removing the interest on all current and future student loans would cost about $200 million in the first year, ramping up to more than $500 million annually.

Singh says that with the measures proposed by the NDP, young people could save up to $1,200 a year.

He spoke to young people about their affordability concerns in the Toronto-Danforth riding, which the NDP is hoping to recapture from the Liberals.