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Backup: Jagmeet Singh visits Laurentian University, decries lack of federal insolvency support

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Jagmeet Singh visits Laurentian University, decries lack of federal insolvency support
Federal NDP Leader Jagmeet Singh visited the University of Sudbury Saturday morning for a campaign stop, criticizing the Liberal government for not doing more to support Laurentian University and promising to immediately remove the interest on federal student loans if elected.

An NDP press release said the party would also forgive up to $20,000 in student loan debt, double the amount of federal grants and not require graduates to repay the federal portion of their loans for five years.

The current federal grace period before repayment must start is six months after a student leaves school.

“In this pandemic, students have been really hard hit. And we want to make sure you know the New Democrats will be there for students,” Singh said, announcing the plan on a terrace at the University of Sudbury, one of the federated schools at Laurentian University.

Singh said the Liberal government has earned $4 billion through student loan interest since taking power in 2015. A report on the Canada Student Loans Program in 2018-2019 cited $2.25 billion in federal interest revenue between 2016 and 2019.

The NDP announced its intention to waive student loan interest and forgive some debt in March of this year, well before the official campaign period began.

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