The debt crisis gripping Canada’s economy is a growing burden on Canada’s already strained social fabric.
The national debt is currently at a record $1.4 trillion and is expected to rise to $2.3 trillion by 2022.
In a recent report, the Canadian Centre for Policy Alternatives (CCPA) found that Canada’s debt burden has grown at the fastest pace in Canada’s history, from $8.2 billion in 2012 to $16.3 billion in 2016.
“If we don’t address this, Canada will end up having to pay a lot more in interest payments and servicing costs than it needs to in order to keep up with its obligations,” said Marc Bélanger, a senior fellow at CCPA.
“And it will become more difficult for people to pay back their loans.”
In addition, the report noted that Canadian borrowers who took out student loans are among the highest borrowers in the world.
This year, according to a recent study by the Canadian Association of Student Financial Services, more than half of all Canadians aged 25 to 64 have student debt.
“The debt problem is the biggest concern of all,” said Bélianger.
“It is the only thing we have to worry about.”
The CCPA report points out that while there are many ways to tackle the problem, Canada is uniquely positioned because of the province’s wealth and economic strengths.
The country is home to the highest concentration of highly skilled workers in the Western world and the largest Canadian economy.
It also has a large population of young adults, who make up the fastest growing segment of Canada’s population.
The report also noted that Canada has a unique legal framework that enables it to issue debt securities that will cover the full amount of the student loan debt.
The CCP report noted the potential for Canadian borrowers to be forced to pay more in future years, even if they manage to graduate.
“We’ve seen a very high level of interest in the last few years,” said CCA spokesperson and professor of economics at the University of British Columbia, David Miller.
That’s going a long way towards keeping the debt manageable.” “
That’s going to require the government to make more revenue.
That’s going a long way towards keeping the debt manageable.”
Miller said that, unlike other developed economies, Canada has relatively low interest rates.
“I don’t think there’s a way to get the interest rate back down that is sustainable,” he said.
“But the fact that we’re in a situation where interest rates are so high is something that we can definitely manage.”
The Canadian government, which has been spending heavily to ease the debt burden, is making efforts to address the problem.
Last year, it announced that it would cut interest rates on its student loans to 5.25 per cent, which will be paid back over time by the government.
The Canadian Federation of Students, which represents roughly 20,000 students, has also been pushing for changes to the student loans system.
“These are the biggest loans we have,” said FSU President and CEO Scott Reid.
“They’re very difficult to get rid of.”
The government has also promised to introduce a new repayment plan in 2018, which would give student borrowers a 30-day grace period to repay their loans.
This plan is likely to be controversial, however.
The federal government’s plan would allow borrowers to continue paying their debt on a rolling basis, and it would only cover a small portion of the outstanding amount.
“With the plan, we’re going to pay about $1 billion in interest over a couple of years,” Reid said.
The plan is expected in the next budget, and Reid expects it to include a larger payment plan, similar to the one Canada has implemented with its student loan programs.
“Right now, the system is really broken,” said Reid.
Students who borrow money to attend college can take advantage of the government’s $10,000 loan forgiveness program.
That program allows them to pay off the principal and interest on their student loans while still maintaining access to a federal student loan program.
However, many students who take out student loan loans say they do not have a choice in the matter.
“You can’t just borrow money and go get an education, you have to work,” said Lauren Smith, a 20-year-old student at the Ontario Institute of Technology in Toronto.
“In the United States, we can go and do that.
We have access to that system.
We can get an internship.
We get an M.B.A. But in Canada, you can’t.”
Smith said she was able to attend her first university in Canada because of her parent’s assistance.
“As a Canadian, you just don’t have that,” she said.
Smith said the fact she is a student at a Canadian university gives her a sense of belonging.
“At the end of