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

Delays en route for Highway 7 in Harrison Mills

Road resurfacing will cause month-long delays for drivers travelling through Harrison Mills

The luckiest man in Agassiz finds more than 200 four-leaf clovers

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

Chilliwack’s pediatric observation unit gets financial shot from trades workers

Unions and contractors donate more than $30,000 to Fraser Valley Health Care Foundation

Missing Chilliwack man not heard from since January

Kristopher Shawn Couture, 25, last made contact with family from Edmonton

Two week lock down lifted for Kent Institution

A search at the prison found nearly 26 grams of hashish and a cellphone

VIDEO: Quadriplegic man takes flight over Harrison Mills

Jim Ryan hasn’t moved his arms or legs for three years, but that didn’t stop him from paragliding

RCMP probe hit-and-run of Richmond senior

The man, who is in his mid-70s, was walking with his wife when he was allegedly struck

More than half of Canadians support ban on handguns, assault rifles: study

Divide between rural and urban respondents in latest Angus Reid Institute public opinion study

Coquitlam crash kills one person, injured two others

Investigators with the RCMP criminal crash unit are working to determing the cause of the incident

Spring rain needed as B.C. sees one of the lowest snowpack levels in 40 years

Snowpack levels in B.C. recorded on May 15 were similar to those in 2015 and 2016

Court to rule on B.C.’s pipeline permit law in crucial case for Trans Mountain

A panel of B.C. Court of Appeal judges has been mulling B.C.’s constitutional reference cas

Theresa May to quit as party leader June 7, sparking race for new PM

The new Conservative leader will become prime minister without the need for a general election

Vancouver man in serious condition after crash between motorcycle, transport truck

The man, 40, remains in hospital after a Thursday collision. Police believe speed was a factor

B.C. man who fell off cliff returns there to rescue eagle from vulture attack

Nanaimo’s James Farkas, who broke his hip in a fall, saves eagle on same beach months later

Most Read