Consulting company says loans price province $4.5M in low-interest payments every year
Manitoba should scrap no-interest student that is provincial for post-secondary pupils, KPMG claims in its newly released post on the province’s funds.
The firm that is consulting financial report, released on Tuesday, stated having less interest charged on student education loans “may discourage repayment of this loans. “
It said the present education loan system is “burdensome, ” plus the province should relocate to a built-in program administered by the nationwide Student Loan Service Centre, through the government that is federal.
Unlike Canada student education loans, that are supplied through the government, Manitoba student education loans are interest-free while pupils come in college and when they’ve completed their studies, provided that they continue steadily to repay the loans. Continue reading →