NDP promises to wipe out a lot of student debt as parties prepare for election

March 20, 2021 Jeremie Misquitta

The NDP is promising to wipe out a large portion of existing student debt, pause student loan payments and eliminate student debt interest.

New Democrat Leader Jagmeet Singh offered new details Saturday of the party's proposals to make post-secondary education more affordable and — eventually — tuition-free. Singh said a government led by him would:

Cancel up to $20,000 in federal student debt per student.
Offer new graduates a five-year repayment break.
Eliminate student debt interest payments for good.
Place a moratorium on student loan payments during the pandemic.