Student loans can follow Canadians for years after graduation, sometimes delaying life milestones like buying a home or starting a family. In this episode, Doug Hoyes and Ted Michalos explain why student debt is so difficult to repay in Canada, the risks of borrowing for education, and the Supreme Court’s latest ruling on the “7-year rule” for government student loans. If you’re still paying off your education years later, this conversation sheds light on the challenges and options for relief.

00:00 – Why student loans in Canada are a massive problem 04:00 – When can government student loans be included in insolvency? 05:00 – Why does it take so long to pay off student loans? 06:15 – The future of specific jobs—and risks of student debt 08:50 – The hidden risks of borrowing for education 11:35 – Interest on student loans: federal vs. provincial rules 12:30 – Practical tips to pay off student loans faster 13:30 – The hidden costs of prolonged repayment 16:00 – How a consumer proposal might help with student loan repayment 18:45 – The Supreme Court’s decision and the 7-year rule explained 25:00 – Planning for the future beyond student debt

Section 178(1)(g)(ii)  of the Bankruptcy & Insolvency Act  Piekut v. Canada (National Revenue). National Student Loan Service Centre (NSLSC) Bank of Canada Inflation Calculator University of Toronto Tuition Fees Info 2025 DIY Credit Repair Strategies and Free Course Sign Up for the Monthly Debt Free Digest Hoyes Michalos YouTube Channel

Disclaimer: The information provided in the Debt Free in 30 Podcast is for entertainment and informational purposes only and is not intended as personal financial advice. Individual financial situations vary and may require personal guidance from a financial professional. The views expressed in this episode do not necessarily reflect the opinions of Hoyes, Michalos & Associates, or any other affiliated organizations. We do not endorse or guarantee the effectiveness of any specific financial institutions, strategies, or digital tools/apps discussed.