A Moratorium on the Repayment of Canada Student Loans
Published on April 9, 2020
Automatically pausing the repayment of Canada Student Loans (CSL) and Canada Apprentice Loans (CAL) for six months, starting March 30, 2020 until September 30, 2020. Interest will not accrue during this time. PBO estimates total net cost of this measure to be $150 million in 2020-21. This includes an estimated program cost of $153 million for CSL and CAL combined and an estimated saving of $4 million from the Student Loan Interest Credit to federal tax expenditures. The time horizon for this costing is aligned to PBO’s current Economic and Fiscal Scenario, although there may be potential fiscal impacts for subsequent years.