Absolutely. CASA has been advocating for this for quite a while now. A number of other provinces have this measure with provincial loans, but creating that six-month interest-free grace period really does allow students to transition into the workforce. It often takes an average of four to six months, I believe, to find stable employment after graduation.
This does allow students to transition into that workforce while not having to worry about the interest on their loans beginning to accumulate. That's a fantastic measure, as is the decrease in interest. You mentioned that Ontario is experiencing a number of changes in its loan program, and I know that other provinces as well may not have the best loan program. I'm from Alberta and we understand that, but it's important that the interest on those loans does decrease. It will help students as they transition into the workforce as well.
That said, when we talk about loans, we shouldn't discount the impact of grants as well and what they can provide, especially for low- and middle-income students, in terms of that upfront funding for them to access a post-secondary institution as well.