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BC Government Eliminates Interest on Student Loans

Bc Legislature Buildings

By Michelle Cyca

Posted on February 19, 2019 | Updated August 06, 2019, 9:07AM

Effective February 19, interest on new and existing student loans has been eliminated.

The BC government announced on February 19 that interest on the provincial portion of student loans has been eliminated. The average BC undergraduate graduates with $11,200 in provincial student loans, and a total of $28,000 including federal loans.

Eliminating interest on the provincial portion of the loans will save students $2,300 in over a 10-year repayment period.

Read more on the official BC Budget website.