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Brunswickian Reports Only Half of College Grads Apply for Student Loan Debt Elimination

I had to report on this story out of Canada. After all, how often do you get to cite a source called the Brunswickian. Apparently college students in Canada have an opportunity to cap their student loans. According to Hillary Paige Smith of the Brunswickian only half of university grads are taking advantage of a government program that caps a student’s debt load at $26,000 and eliminates debt higher than that.

Greg Byrne, finance minister and incumbent MLA for Fredericton-Lincoln, said the government wants to ensure that as many students as possible are aware of the debt relief program.

“We’ve been talking to student leaders, talking to the student unions, trying to get the word out. We’ve been talking about this issue publicly to the media and we are obviously providing information on the website for the program… Trying to draw awareness and use every opportunity to make sure the awareness is there so people take advantage of the program,” he said.

n order to be eligible for the Timely Completion Benefit students must have graduated from an undergraduate program in any publicly funded post-secondary educational institution after April 1, 2009. Students must have total combined Canada and New Brunswick student loans exceeding $26,000. Students have to apply for debt relief and applications must be sent within seven months of graduation. – Source

Okay, there are two things Canada has the U.S. beat on, health care and reasonable student loan options.


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Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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