Starting adult life with student debt is not good for the person or country and sucks.
This is according to outgoing Skeena-Bulkley Valley MP Nathan Cullen in response to the NDP announcement Thursday(Sept 5) on capping all interest on existing and future student loans.
The NDP have been following different models from other countries and states.
Cullen said it doesn’t just make sense economically but also on a humane level.
“Someone going and getting a college or university degree should not need 20 years of servitude to a bank paying off high-interest rates so, eliminating those and capping those it makes sense,” said Cullen.
According to the NDP in a press release, the Liberal government has taken almost $3 billion dollars from graduates from interest alone.
Cullen also said this will help people get back to school.
“I think folks are sick of seeing sweetheart deals to really wealthy well-connected people who owe taxes or get sweetheart deals from the government but average people just keep getting screwed,” he said.
NDP leader Jagmeet Singh and Davenport candidate Andrew Cash made the announcement at a round table with young people to discuss the different challenges that are faced by new graduates.
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