UVic students show interest about no-interest loans
Kirk Duncan, CTV Vancouver Island
Published Friday, March 15, 2019 9:41AM PDT
Last Updated Friday, March 15, 2019 12:42PM PDT
University of Victoria students joined Minister of Education Rob Fleming to welcome the government's decision to eliminate interest payments on B.C. student loans.
Through a round-table discussion, some students relayed their concerns of living as a student with debt and how their needs could be helped.
“I took out some loans in first year and since then, I work full-time and I try to balance that with classes," said student society memebers Pierre Angelzblaze. "Because of that I’ve had to start paying off the interest on my student loans, and it’s excellent to hear that I don’t have to do that anymore.”
When the budget was revealed, Fleming touted the changes as making post-secondary education "more accessible, more affordable" for young British Columbians. They took effect on Feb. 19, 2019.
“As of that day forward, all B.C. student loans for students that have already completed their programs and students who are borrowing today had their interest rates eliminated," he said.
It was the first time some students had heard of the interest elimination on their loans and were excited about how it would affect them.
“I have worked out like a few years in advance what I am going to pay them off, and interest-free makes that even better," said William Magnusson.