Consulting company says loans price province $4.5M in low-interest payments every year
Manitoba should scrap no-interest provincial figuratively speaking for post-secondary pupils, KPMG claims in its newly released report on the province’s finances.
The consulting company’s financial report, released on Tuesday, stated the possible lack of interest charged on student education loans “may discourage repayment associated with the loans. “
It stated the current education loan system is “burdensome, ” together with province should proceed to a built-in program administered by the nationwide education loan provider Centre, through the authorities.
Unlike Canada student education loans, that are supplied through the government that is federal Manitoba figuratively speaking are interest-free while pupils come in college and once they’ve finished their studies, so long as they continue steadily to repay the loans.