March 20th, 2021 - 3:15pm
Community, Consumer Protection, Press Releases, Student and Post Secondary
FOR IMMEDIATE RELEASE
March 20, 2021
University of Windsor – St. Clair College students, faculty would benefit from Brian Masse & NDP plan to help with student debt
A moratorium on student loan payments until the end of the pandemic, cancelling interest on student debt, cancelling up to $20,000 of student debt per person and working towards tuition free post-secondary crucial for students at University of Windsor and St. Clair College
WINDSOR — On Saturday, New Democrats presented their plan to help young people thrive instead of being buried in debt. NDP MP Brian Masse (Windsor West) said the plan includes putting a moratorium on student loan payments, cancelling up to $20,000 per student of federal student loan debt and giving new graduates a five-year head start without having to repay any federal student loan. While Justin Trudeau had to be forced to help students throughout the pandemic, the NDP has a plan that puts young people first.
“Young people are making student loan payments the size of mortgage payments — spending years under crushing debt not able to get ahead. And the COVID-19 pandemic only made matters worse,” said Masse. “But instead of helping young people, the Liberal government had to be forced to give students support and then cut support by stopping the moratorium on student loan payments. New Democrats will continue to fight for young people and the help they need to get through the pandemic.”
58 per cent of youth have experienced an impact on their financial situation due to the pandemic. And 61 per cent have faced difficulties with employment including fewer hours, job loss or absence of seasonal work. Our economy won’t bounce back if young people are held back having to pay hundreds of dollars in loan payments every month, with thousands of dollars going to the federal government just in interest.
“Helping young people enter the workforce instead of being buried in debt is a responsible investment with a solid return, the added twist is not subjecting students to poverty,” said Masse. “Since they have been in government, the Liberals have taken over $4 billion from students in interest payments – profiting off the backs of young people already feeling the squeeze. New Democrats are committed to a future where young graduates from the University of Windsor and St. Clair College can contribute to our community and beyond.”
The NDP reiterated its commitment to work with provinces and territories towards tuition free post-secondary education and to re-instate the moratorium on student loan payments – cancelled in September by the Liberals – until the pandemic is over. Finally, the NDP will permanently remove interest on all federal student loans so the federal government stops profiting off the backs of young people.
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