(Quebec) Faced with rising interest rates, the Parti Québécois (PQ) is proposing to permanently abolish interest on student loans.
The PQ points out on Tuesday that after two years of freeze due to the pandemic, interest rates on loans jumped to 7.2% in March, and last week to 7.45%.
According to the party’s calculations, for a loan of $30,000 over ten years, a student would end up paying $467 more than last week.
According to the party, 380,000 Quebecers are carrying student debt.
The PQ therefore suggest that the government “take a strong and definitive action” to ensure universal access to higher education, by permanently eliminating these interests.
Last week, the Bank of Canada once again raised its key rate, which is at its highest level since 2001.
“Caught between the difficulty of accessing property and galloping inflation in all sectors, young people are very concerned about the sudden increase in the interest rate for loans and bursaries, which is hampering the realization of their career plans. future,” PQ leader Paul St-Pierre-Plamondon said in a statement.
“It’s not normal for a Quebec student to have to pay thousands of dollars while Canadians don’t have to pay interest. »