Finance committee  Of the overall payment that students are making, what percentage is in interest...? Can you repeat the question?

Finance committee  There are two kinds of interest rates for Canada student loans. Stepping back for a second, there are federal student loans, which are Canada student loans, and students also receive provincial student loans. Provinces determine the interest rates for the provincial portion. For

Finance committee  The rate itself is part of the terms and conditions that the students signed when they received a student loan. To make any changes to those terms and conditions, meaning to make any changes to the rate, the minister of ESDC would have to go to cabinet with the concurrence from t

Finance committee  It used to be interest-free, but the Government of Ontario has announced that they will reintroduce grace period interest.

Finance committee  That is correct.

Finance committee  Canada student loans are delivered by a third party service provider, but the Government of Canada funds Canada student loans, so the interest is paid to the Government of Canada through the receiver general.

Finance committee  The overall interest payment does go to the Government of Canada. For example, for the 2017 school year, the overall interest revenue for the government was slightly over $700 million. The cost of the program, for providing all kinds of other supports was—with the net of the inte

Finance committee  Delivering the program does have some operational costs, such as administrative costs. They're mostly the cost of Canada's student grants, the repayment assistance plan and loan forgiveness for students in certain disciplines. Those are the major costs of the program. There are s

Finance committee  The measure that has been announced is coupled with another measure that reduces the interest from prime plus 2.5% to prime for students who will be in repayment. It is completely interest-free during their studies. Interest will accumulate once they go into repayment. As you k

Finance committee  Thank you, Mr. Chair, for giving me the opportunity to come here today. This division proposes amendments to the Canada Student Loans Act and Canada Student Financial Assistance Act to make Canada student loans interest-free during the six-month period between students leaving s