A massive burden has been lifted off the shoulders of post-secondary students in British Columbia.
As part of their 2019 budget, BC announced they would be eliminating interest on student loans going forward.
Provincially issued student loans stopped accumulating interest as of February 19th, saving borrowers a combined 22 million dollars in 2019-2020.
On top of that, roughly 200 thousand residents will benefit from debt relief relating to over 1.2 billion dollars in outstanding interest payments.
Students at Coast Mountain College in Terrace were able to take part in a round-table discussion surrounding the new policy yesterday.
Parliamentary Secratary for Sport and Multiculturalism Ravi Kahlon joined students at the table.
Kahlon says post-secondary students have been saddled with high levels of debt for far too long and that the elimination of student loans will help young people transition in to the workforce.
