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  1. Table of Contents. Canada Student Loans Act. 1 - Short Title. 2 - Interpretation. 2.1 - Application. 3 - Guaranteed Student Loans. 4 - Interest and Periods Free of Repayment. 6 - Liability of the Minister. 11.1 - Family Physicians, Nurses and Nurse Practitioners in Under-Served Rural or Remote Communities.

  2. 31 Μαρ 2023 · Starting tomorrow, April 1, 2023, this change will benefit more than 1.2 million post-secondary graduates in Canada each year. The elimination of interest will save an average student loan borrower $520 per year, based on current interest rates.

  3. Effective April 1st, 2023, the Government of Canada has permanently eliminated the accumulation of interest on all Canada Student Loans including loans currently being repaid. You continue to be responsible to pay any interest that may have accrued on your loan before April 1, 2023.

  4. 20 Νοε 2022 · The bill passed its first reading in the House of Commons and is currently in its second reading. If passed, the act would eliminate interest on all Canada Student Loans and Canada Apprentice Loans currently being repaid and those that will be repaid in the future starting on April 1, 2023.

  5. (a) no interest is payable by a borrower on a guaranteed student loan; and (b) no amount on account of principal and interest in respect of a guaranteed student loan is required to be paid by the borrower.

  6. Canada Student Loans Act. R.S.C., 1985, c. S-23. An Act to facilitate the making of loans to students. Short Title. Marginal note: Short title. 1 This Act may be cited as the Canada Student Loans Act.

  7. You may be eligible to claim an amount for the interest paid on your student loan in 2023 or the preceding 5 years for post-secondary education if you received it under: the Canada Student Loans Act. the Canada Student Financial Assistance Act. the Apprentice Loans Act.

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