Federal Liberal leadership candidate proposes student loan program overhaul

February 11, 2013

Federal Liberal leadership hopeful Marc Garneau says he would overhaul Canada's student loan program to ensure no student has to repay their loan before they can afford to do so. Under Garneau's proposed plan, the current 6-month grace period on student loan repayment would be eliminated and replaced with an indefinite time period. Garneau says an income threshold of approximately $40,000 would be implemented. Only once a student has found gainful employment and reached that salary level would repayment begin. Garneau notes that since education is a provincial responsibility, provinces would have the option to opt out of this plan and the federal government would continue to support them. Marc Garneau News