Consulting firm says loans price province $4.5M in low-interest payments every year
Manitoba should scrap no-interest student that is provincial for post-secondary pupils, KPMG claims with its newly released report about the province’s funds.
The consulting company’s financial report, released on Tuesday, stated the possible lack of interest charged on student education loans “may discourage repayment of this loans. “
It stated the present education loan system is “burdensome, ” together with province should relocate to an integrated system administered because of the nationwide education loan provider Centre, through the authorities.
Unlike Canada student education loans, that are supplied through the government that is federal Manitoba student education loans are interest-free while students have been in college and once they’ve finished their studies, so long as they continue steadily to repay the loans. Read more