Red Deer, Alberta (April 10, 2023) — Digital School Technical Design College is thrilled to share the news that the Government of Canada has “permanently eliminated the accumulation of interest on full and part-time Canada Student Loans and Canada Apprentice Loans, including loans currently in repayment.” (Alberta Student Aid).
This exciting update became effective as of April 1, 2023, saving the average Canadian student $410/year on loan interest. Also taking into account that half of all post-secondary students in Canada rely on student loans to afford tuition and other essentials during their career as a student – this news could not be more welcome.
Those who take advantage of Canadian Student Loans are still eligible for Canada’s Repayment Assistance Plan, allowing them to pause student loan repayment until they make at least $40,000/year, and reducing payments for those earning slightly above the threshold.
Though with an employment rate of 91% within the first 3 months of graduating, and a median salary of $74,749/year, this will not be relevant to most Digital School graduates.
Digital School students have access to more than just the Canada Student loans in regards to funding opportunities. Digital School is currently offering students a guaranteed, in-house subsidy of $1000 – $2000 depending on their chosen program. This is in addition to other third-party scholarship opportunities that are available to DS students and facilitated through Digital School nation-wide.
To learn more about what funding you qualify for as well as our full range of programs, book a Discovery Session with a Digital School Advisor today!