B.C. Liberal leader Andrew Wilkinson (Black Press)

B.C. Liberal leader says students should pay interest on loans

NDP move to eliminate interest encourages debt, Andrew Wilkinson says

B.C. Liberal leader Andrew Wilkinson’s opposition to interest-free B.C. student loans is sparking an online backlash similar to his recent remarks about renting being a “fun” time of transition.

Wilkinson questions the move in the NDP government’s recent budget to eliminate interest from the B.C. portion of student loans, arguing that it may encourage young people to take on more debt than they can handle. He said financing is important for students, but removing interest from loans is “probably not the right way to go about it.

“My own experience is running into students who have $80,000 in student debt who haven’t completed their degree,” said Wilkinson, referring to his time as advanced education minister in the Christy Clark government.

“I paid tens of thousands of student loans myself to get through medical school, and student loans are a very important part of our education system,” said Wilkinson, who trained as a doctor in Alberta before obtaining a law degree in Britain as a Rhodes scholar. “The concern with the NDP taking the interest off them completely is that students in their early years may get a little carried away with how much they’re borrowing. If there’s no interest whatsoever, then students are likely to borrow more.”

READ MORE: Wilkinson under fire for comments on renting being ‘fun’

READ MORE: Students pleased with removal of B.C. student loan interest

NDP MLA Ravi Kahlon posted an audio clip on his Facebook page of similar comments by Wilkinson on RedFM radio in Surrey, where he questioned whether students would ever pay back debt if interest wasn’t accumulating.

“That’s like saying nobody pays back zero-interest loans on cars,” said one commenter.

Others referred to Wilkinson’s recent comments on renting being a “wacky” and “fun” time for young people, for which he later apologized, saying he was referring to his own experience in his 20s.

Federally sponsored student loans are interest-free for the first six months after graduating, after which interest applies at above the prime rate.


@tomfletcherbc
tfletcher@blackpress.ca

Like us on Facebook and follow us on Twitter.

Just Posted

BYELECTION: Eight contenders vie for council seat in North Saanich

Byelection to fill vacant council seat set for April 6

BC Ferries warns of short Tsawwassen inconvenience, sailing times not affected

Line painting scheduled overnight between Tuesday, March 26 and Wednesday, March 27

Purple Day marks long journey for Gorge resident

Legislative Assembly to recognize epilepsy on Tuesday

UVic students plan rally to demand accountability from university

Students rallying against UVic’s fossil fuel investments and plans to raise international tuition

More people are hauling themselves to Greater Victoria

Victoria ranks second in U-Haul’s migration survey, behind Kingston

Mueller finds no Trump collusion, leaves obstruction open

But while Mueller fully ruled out criminal collusion, he was more circumspect on presidential obstruction of justice

Edmonton judge rules Omar Khadr’s sentence has expired

Eight-year sentence imposed in 2010 would have ended last October had Khadr remained in custody

Woman wants Tofino to get a nude beach

“They may enjoy a surf and then walk around naked and just be free.”

Ice climbers scale Canada’s tallest waterfall on Vancouver Island

Ice climbers Chris Jensen, Will Gadd and Peter Hoang made history

Sparks fly as SUV speeds wrong way down Highway 1 trying to flee RCMP

Captured on video, the vehicle headed westbound against oncoming traffic before crashing

Fundraising campaign launched for man caught in SilverStar avalanche

In only two days, the GoFundMe surpassed its $15,000 goal

B.C. doctor fined $5,000 for accessing records of woman pregnant with his child

Doctor admits to accessing records of the woman carrying his child

Video service to compete with Netflix, Amazon expected from Apple on Monday

The iPhone has long been Apple’s marquee product and main money maker, but sales are starting to decline

Trudeau delivers campaign-style speech while introducing candidate Taggart

The Order of British Columbia recipient said she wants to be the people’s voice in Ottawa

Most Read