Green Party’s free tuition plan would cost $16.4B, but PBO estimate comes with ‘high uncertainty’
The Green Party
is promising to eliminate the widely popular registered education
savings plans (RESPs) and replace it with a plan for free post-secondary
tuition at a cost of $16.4 billion in its first full year, according to
the national budget watchdog.
is promising to eliminate the widely popular registered education
savings plans (RESPs) and replace it with a plan for free post-secondary
tuition at a cost of $16.4 billion in its first full year, according to
the national budget watchdog.
The
PBO estimated the cost by calculating the new funding required by
provinces and territories to make post-secondary tuition free,
eliminating the non-refundable Student Loan Interest Tax Credit, and
forgiving debt for students that are unemployed or earning less than
$70,000 per year as of November 2020.