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

Forest co-op will be soon be giving money away

Cowichan Lake residents and groups will be able to apply in a couple of months

City of Duncan conducts third Citizen Survey

Survey will be held from March 20 to April 3

Drivesmart column: Intersection Watch sees many drives who don’t know the rules

321 drivers executed either a rolling stop or no stop at all.

Shawnigan Lake residents rally to rebuild memorial bus shelter

Nick’s Stop is a reminder for all to slow down

Cowichan Valley U18 Silver boys’ team’s historic run ends in semis

The successful season that saw the Cowichan Valley U18 Silver boys win… Continue reading

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

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

Coming up in Cowichan: World Water Day

Shawnigan Lake marks World Water Day Got clean local water? “The ability… Continue reading

Bobrovsky perfect as Blue Jackets blank Canucks 5-0

Vancouver shut out for 10th time this season

Fundraising campaign launched for man caught in SilverStar avalanche

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

Terror at sea: Helicopter rescues frightened cruise passengers in Norway

The Viking Sky cruise ship was carrying 1,300 passengers and crew when it experienced engine trouble

Search and rescue team helicopters injured climber from B.C. provincial park

A 30-year-old woman suffered a suspected lower-limb fracture in Skaha Bluffs Provincial Park

DOJ: Trump campaign did not co-ordinate with Russia in 2016

Attorney General William Barr said special counsel “does not exonerate” Trump of obstructing justice

Trudeau in Vancouver to support Tamara Taggart at Liberal nomination event

The former broadcaster is seeking the nomination for the Vancouver Kingsway riding

Trudeau calls May 6 byelection for B.C. riding of Nanaimo-Ladysmith

The riding opened up when Sheila Malcolmson resigned in January

Most Read