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Repayment Assistance is designed to help students meet repayment obligations if they are temporarily unable to make payments on their government student loans because of unemployment or low income. Repayment Assistance is granted for periods of six months. Some rules, such as Canadian residency, may apply.
In principle the funding of post-secondary education in Alberta is a responsibility shared by students, their families and society. In a context of rising student costs, the Alberta government has set in place policies in areas such as tuition fees and financial assistance to ensure adequate levels of access and affordability. [20]
Existing federal social security programs were modified to provide additional financial support to their recipients. Canada Child Benefit payments were given a one-time increase of $300 per child, [3] the Goods and Services Tax (GST) credit for the 2019 tax year was doubled, [4] and personal income tax deadlines for 2019 were extended.
For instance, employers who offer student loan repayment assistance can do so tax-free up to the $5,250 limit. Plus, offering these benefits may help recruit, engage and retain employees.
A number of high-profile companies have programs in place to help employees pay down student debt. Many government agencies do as well through loan repayment assistance programs, or LRAPs ...
Income-based repayment or income-driven repayment (IDR), is a student loan repayment program in the United States that regulates the amount that one needs to pay each month based on one's current income and family size.
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