BC IS THE ONLY PROVINCE IN CANADA WITHOUT A STUDENT GRANTS PROGRAM. Part of making post-secondary education accessible is by providing needs-based grants to help students get their foot in the door. Grants were eliminated by the BC government in 2004. Let’s get them back.
BC CHARGES THE HIGHEST INTEREST ON STUDENT LOANS IN CANADA. The government borrows at 1% below prime and charges students 2.5% above prime. Newfoundland Labrador eliminated interest on student loans in 2009. It’s time for the BC government to follow suit and stop making money off students’ backs.
IT WOULD COST THE BC GOVERNMENT ONLY $30 MILLION TO ELIMINATE INTEREST ON STUDENT LOANS. Set against other government priorities such as $127 million in subsidies to the oil and gas industry, this makes for a very affordable investment. Investing in post-secondary students is an investment in BC’s economy.
BC STUDENTS PAY MORE FOR LESS. Between 2001 and 2009 real per-student operating grants from the BC government to public post-secondary institutions have declined by more than 8%. Over that same period, tuition fees for an undergraduate degree have more than doubled. Universities and colleges are currently facing major cash shortfalls and are being forced to implement major cutbacks.