The Impact of Student Debt on Long-Term Financial Planning
Postsecondary graduates in Canada often begin their adult lives carrying significant education debt that fundamentally reshapes their long-term financial planning. These financial obligations frequently force individuals to postpone major milestones such as purchasing a home, saving for retirement, or pursuing preferred career paths due to immediate income pressures. However, recent policy changes have eliminated interest on federal student loans, meaning that traditional advice of aggressive repayment no longer applies universally. Borrowers can often build greater long-term wealth by…
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