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Students receiving a Canada Student Loan (CSL) for the first time on or after August 1, 1995, are eligible for up to 340 weeks (~6.5 years) of interest-free status on their loan balance. Students in doctoral programs are eligible for an additional 60 weeks, up to 400 weeks (~7.5 years).
The tax forms concerning these student loans scenarios include: Form 1098-E: Also known as the Student Loan Interest Statement , this lender-sent form tallies your interest paid to help you claim ...
The table below summarizes each state’s total federal student loan balance, the number of borrowers and the average federal student debt per borrower as of March 31, 2024. Location.
To determine whether a borrower is eligible for relief, the Department will take into account their total student loan balance and minimum payment due relative to their household income. Other ...
As of 2018, Canada is ranked third in the world (behind Russia and South Korea) for the percentage of people ages 25–34 who have completed tertiary education. [1] As of September 2012, the average debt for a Canadian post-university student was 28,000 Canadian dollars, with this accumulated debt taking an average of 14 years to fully repay based on an average starting salary of $39,523. [2]
[citation needed] Federal student loan interest rates are established by Congress and listed in § 20 U.S.C. § 1087E(b). Because the interest rates are established by Congress, interest rates are a political decision. In 2010, the federal student loan program ran a multibillion-dollar "negative subsidy", or profit, for the federal government.