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The government of British Columbia eliminated interest on its student loans on February 19, 2019. The Canadian federal government eliminated interest on its student loans as of April 1, 2023. [8] In September 2010 the amount of student loans owed to the Government of Canada surpassed $15 billion.
Since the Dominion-Provincial Student Assistance Program (DPSAP) in the 1930s, Ontario has administered an integrated federal-provincial student aid program. [9] The federal government pays Ontario $16 million to compensate for this administration. In 1998, the federal government also integrated loan repayment with Ontario and other ...
The Dominion-Provincial Student Loan Program was the first federally funded student loan program accessible to university students in Canada. Originally, only five provinces joined the initiative, but by 1944 all nine provinces were participating. Newfoundland joined the scheme in 1950, soon after joining confederation in 1949.
The department delivers a number of federal government programs and services including Employment Insurance (EI), Service Canada centres, Canada Student Loan Program (CSLP), Canada Pension Plan (CPP), issuing social insurance numbers (SIN) and the federal Labour Program among other things.
Privatizing federal student loans — having the government pull back and allowing the private sector to lend instead — is an idea worth taking seriously, write Beth Akers, Preston Cooper and ...
Government shutdowns, while rare, could slow down the financial aid process.
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