Good news for anyone out there who has an outstanding Canada Student Loan or is heading to college or university.
Starting today, no single Canadian will have to repay their loan until they earn at least $25,000 a year.
Borrowers who are having difficulty making their monthly payment can apply for help and depending on income and family size can get approved for a reduced monthly payment or no payment at all.
In a release, the federal government says "with these enhancements, borrowers in need will be getting more financial relief so they can focus on finding the right job to start a career, without the management of loans becoming an overwhelming burden. "
The measure was announced in the Trudeau Liberal's spring budget.