Canada is home to some of the world’s best higher learning institutions. Not only do they provide skills for the future, they create jobs, and foster a young and dynamic community.
But when students are unable to find a place to live on or near campus, they look to the nearby community, which can drive up rent and reduce the number of homes for everyone.
To support the construction of student housing, we’ve announced changes to the Apartment Construction Loan Program (ACLP).
Through these measures, the Government of Canada will be offering low-cost loans to build more student housing on- and off-campus. This will ensure that students can find housing they can afford close to where they study, and help families who live in those same communities year-round.
This is just one important step in our economic plan to address housing challenges and boost affordability.
We’re committed to building more homes, faster, and ensuring that young people in Canada have the proper supports they need to learn and grow.