Coast Mountain College hosts round table on interest-free student loans
A roundtable discussion celebrating the elimination of interest from B.C. student loans was held at Coast Mountain College’s Terrace campus today.
The decision, which went into effect Feb. 19, brings debt relief to approximately 200,000 people.
As of that date, B.C. student loans stopped accumulating interest.
The provincial government says that students with unpaid loans owe, on average, $28,000 in total debt to the federal government.
It adds that this new debt relief program will save that typical individual $2,300 over a 10-year repayment period.