OTTAWA–The Canadian Federation of Students and Don’t Forget Students support the motion unanimously adopted by the House of Commons calling the reintroduction of moratoriums on federal student loan repayments until May 31, 2021. Once actioned by the Government, this will freeze repayments and interest for federal student loan borrowers who continue to face wide-spread challenges and financial hardship caused by the pandemic.
“Reintroducing the moratorium on student loan payments means that students and recent graduates have a fighting chance to make it through the second wave of the pandemic,” said Nicole Brayannnis, National Deputy Chairperson of the Canadian Federation of Students. “As we look ahead to the winter semester, students and graduates need concrete commitments for a long-term strategy that sets the foundation for a more inclusive post-secondary education system.”
“While we’re pleased to see that the urgent needs of post-secondary students and graduates are being recognized, this step does not address systemic issues that have been amplified during the pandemic. Students are still worried about the future of the education system, whether they’ll have jobs to go to, and how debt will impact their lives,” said Brandon Amyot of Don’t Forget Students.
Presented by Member of Parliament, Heather McPherson, the motion looks to provide relief to students and recent graduates facing unprecedented levels of unemployment, economic instability, and social isolation. This motion comes at an important time. The disastrous resumption of federal student loan payments in October has left student debt holders scrambling to reauthorize loan payments. This is happening while students, recent graduates, and their communities continue to deal with the impacts of the second wave of COVID-19.
The Canadian Federation of Students and Don’t Forget Students continues to advocate for immediate pandemic relief for all students and recent graduates as well as a national post-secondary stimulus strategy that is equitable for all.
For more information please contact:
Taylan McRae-Yu, Canadian Federation of Students, firstname.lastname@example.org
Brandon Amyot, Don’t Forget Students, email@example.com