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

Port Alberni’s West Coast Rangers hold rendezvous

Three-day event featured historical re-enactment

Port Alberni Port Authority talks logistics for cruise ship visit

Some restrictions for pedestrians, boaters will be in place

Port Alberni’s ‘Army of Problem Solvers’ to the rescue

Facebook group gathers people who just want to help their neighbours

Hurricane Katrina inspires Alberni author’s new novel

Jacqueline Swann brings message of climate change to life with story of fictional journalist

Port Alberni RCMP searching for missing teenage girl

16-year-old Lasheena Seward was reported missing from a group home on May 9

600 new campsites coming to provincial parks and recreation sites across B.C.

Tourism Minister announced half of the new spots to 13 most popular provincial parks

B.C. Supreme Court dismisses review around ferry workers’ right to strike

B.C. Ferry and Marine Workers’ Union collective agreement expires November 2020

Municipalities protest after B.C. declares marijuana crops ‘farm use’

UBCM president seeks answers in letter to John Horgan government

CMHC defends mortgage stress test changes amid calls for loosening rules

Uninsured borrowers must now show they could service their mortgage if rates rose two per cent

B.C. woman left ‘black and blue’ after being pushed off 40-foot cliff at lake

West Shore RCMP looking for witnesses as investigation continues

Thunderstorms to bring heavy rain, risk of flash floods in the southern Interior

Ten to 30 millimetres of rain to fall over the early weekend

Unbe-leaf-able: Agassiz man finds more than 200 four-leaf clovers in a month

Walt Hardinge has found more than 219 four-or-more leaf clovers this spring alone

Crews fight fire with fire to keep blaze from northern Alberta town

The wildfire now covers some 920 square kilometres

Man in B.C. charged with murder and arson in 2016 New Brunswick death

He is charged in the death of 71-year-old Lucille Maltais, who was found inside a burned down home

Most Read