The Problem:

Students are not only struggling to pay their tuition fees but are also facing huge challenges finding affordable housing and covering the costs of groceries, gas and other day-to-day expenses.

The 2023 BC budget introduced the doubling of student loan maximums and increased the income level required for repayment to begin, but allowing a student to take on more debt is not a solution.

The Impact:

Saddling students with more and more debt is having lasting negative impacts on our communities and province. Graduates are being held back by their student debt; they are struggling to relocate for work opportunities, purchase a home or other large items like a car, and are delaying major life events like starting a family.

So How Much do Canadians Owe?

As of July 2022, the total amount of student loan debt owed to the federal government, by more than 1.9 million Canadians, was $23.5 billion – which only increases further when you include provincial loans and private debt.

The Solution:

The BC government must act now by:

• freezing and progressively reducing tuition fees to lower the costs of post-secondary education.

• providing more funding to the BC Access Grant to ensure those from low- and middle- income backgrounds can access post-secondary education.