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| Resident Loan Interest Relief Update
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14 July 2010 |
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Today the Ministry of Health and Long Term Care issued a communique with respect to the Resident Loan Interest Relief Program in response to our request that they provide an update to our members. PAIRO staff has continued to work with Ministry officials and the Ontario Medical Association to help address various administrative challenges that the government has encountered. Implementing the program has been extremely complex given that the Ontario government will be offsetting interest on qualifying student loans with the federal government and other provincial governments.
There has been a major development in that necessary legislation to allow for the program to be created was just been passed by the Legislature. We continue to press for the program to be implemented as soon as possible. The government has continued to assure us in writing that the program will be retroactive to July 2009 and in their most recent communique suggest ways in which interested residents can reduce their loan repayment until the program is fully operational.
Click here to read the communique.
In response to the announcement, PAIRO President Dr. Ceara McNeil said that PAIRO is working on behalf of residents to see the OMA-Ministry of Health negotiated Resident Loan Interest Relief Program implemented as quickly as possible. Please watch for future announcements.
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