trudeau student loans

Justin Trudeau promises to help young people by delaying student loans

Prime Minister Justin Trudeau just announced several significant measures to help Canadians through the unprecedented COVID-19 pandemic, one of which will surely help students dramatically. 

In a press conference Wednesday morning, Trudeau announced a six-month interest-free moratorium on the repayment of Canada Student Loans for anyone currently in the process of repaying one.

This means students who are currently strapped for cash due to a lack of income won't have to worry about repaying student loans for the time being, and they also won't have to worry about accumulating interest. 

The measure is expected to to be implemented in early April and it will cost the government $190 million. 

In the same press conference, Trudeau announced that Canada and the U.S. will close the border between the two countries to all non-essential travel in order to stop the spread of the virus. 

He also announced an Emergency Care Benefit providing up to $900 bi-weekly to Canadians who are sick and do not have paid sick leave, as well as support for workers who lose their jobs or face reduced hours as a result of COVID’s impact and extra financial aid for low- and modest-income families.

The government is also introducing a new Indigenous Community Support Fund, extra funding for those experiencing homelessness during the outbreak and more money for women’s shelters and sexual assault centres for women and children fleeing violence during this crisis. 

These measures along with several others will provide up to $27 billion in direct support to Canadian workers and businesses amidst the COVID-19 outbreak.

Lead photo by

Justin Trudeau

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