Ottawa, December 22, 2011 – Yesterday, the Government of Canada announced that, effective January 1, 2012, part-time students will no longer be required to pay interest on student loans as long as they continue their studies.
Previously, this concession was available only to full-time students.
“We are delighted that access to post-secondary studies has been enhanced for this group of students’, said James Knight, President and CEO of ACCC. “This new measure will allow many students with financial limitations to continue studies, for example, displaced workers who are re-skilling for new opportunities or single parents who wish to improve their employment prospects.
“With 70% of new jobs requiring post-secondary credentials, we must make it easier for students to complete their studies,” says Knight. “Canada is challenged by a rapidly aging population. To meet the needs of employers, we must implement measures, such as the one announced today, to secure Canada’s work force for the future. We commend Minister Finley.”
ACCC is the national voice for 150 publicly-funded colleges and institutes with campuses in 1,000 communities, serving 1,500,000 full- and part-time learners. Ninety percent of college graduates are employed within six months of graduation.
For more information contact:
Rosemary Lafrenière, Manager, Communications and Information Services
Tel: 613-746-2222, ext. 3123