Canada Student Loan

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The Canada Student Loan (sometimes refered to as the National Student Loan) is federally administered by National Student Loan Service Centre under the wing of HRSD Canada. While the loan solves the immediate problem of financial aid for students enrolling in University studies, it fails to help the students after graduation. In fact, it takes advantage of the graduates. For example, an average loan of $30,000 is actually charged an incredible 2.5% interest on top of the prime interest rate (which floats around 6% at time of writing), and as results, monthly fees near $350 -- that is interest only. For those not economically savvy, it should be outlined that this interest is added to the original $30,000 (compounded) daily, resulting in amazing profits for the government and an impossible dilema for newly graduated students.

Some more information: http://www.canadastudentdebt.ca/commonproblems.asp

General information from HRSD (read carefully): http://www.hrsdc.gc.ca/en/gateways/topics/cxp-gxr.shtml

Canadian Federation of Students: http://www.cfs-fcee.ca/html/english/home/index.php

For further information, see Student loan#Canada