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31 mar 2023 · Starting tomorrow, April 1, 2023, this change will benefit more than 1.2 million post-secondary graduates in Canada each year. The elimination of interest will save an average student loan borrower $520 per year, based on current interest rates.
Federal and Provincial Manitoba student loans are now integrated into one with the NSLSC. Get to know us better! To learn more about the NSLSC and your student loan experience, watch this short video.
As of November 12, 2024, the current student loan interest rate for federal student loans is 5.95% for variable rate and 7.95% for fixed rate loans. This is for the federal portion of your government student loan. Your provincial student loan interest rate will depend on your province.
The prime rate is the annual interest rate Canada’s major banks and financial institutions use to set interest rates for loans. Fixed rate is a stable rate of interest. If you had negotiated a fixed rate, you would have been charged the same interest rate throughout your repayment period up to the time that interest was eliminated.
31 mar 2023 · It proposes to: increase Canada Student Grants by 40%, to provide up to $4,200 for full-time students; raise the interest-free Canada Student Loan limit from $210 to $300 per week of...
18 gru 2023 · As of April 1st, 2023, the Canadian government dropped the interest on federal Canada Student Loans and Canada Apprentice Loans. However, students must still pay interest that accrued on their student loans before April 1st, 2023.
Effective November 2023, the Government of Canada has increased the maximum amount forgivable by 50%. This means that eligible doctors can receive up to $60,000 and eligible nurses can receive up to $30,000 in loan forgiveness over a maximum of five years, on their Canada Student Loans.
