Canadian students borrowing more, paying off less

April 14, 2008

According to new statistics released by the Canada Student Loan Program, PSE students borrowed 17% more in 2005-06 than the year before -- totalling an average of $5,631 annually.  25% of borrowers extended their repayment period to make their monthly payments more manageable.  The Coalition for Student Loan Fairness points out that the 12% jump in payment period revisions might be why the government brought in $49 million more in interest revenue than expected. Maclean's On Campus