Canadian post-secondary students are facing a crunch like nothing you’ve seen prior. The student that is average having a projected $25,000 in government-issued financial obligation, along with your capacity to repay it could have a lasting impact on your credit rating.
In Canada, federal government figuratively speaking are doled down because of the federal Canada student education loans system or your property province/territory (or both, dependent on your geographical area). At the time of Nov. 1, 2016, graduates aren’t necessary to start repaying their Canada education loan until they’re earning at least $25,000 per year. Nonetheless, interest does accrue during this period.