BURNABY – College and university students in Burnaby will immediately benefit from investments announced in Budget 2019, says New Democrat MLA for Burnaby-Lougheed, Katrina Chen.

“Students around the province have been burdened by debt as the cost of living and education has continued to climb,” said Chen. “We’re taking bold steps to address the affordability crisis, and relieve the financial pressure put on young people. I am so pleased to say we’ve kept our promise and eliminated interest on B.C. student loans.”

Chen added that by investing in young people, we’re building a strong economy for today and tomorrow.

The New Democrat government has eliminated interest from the B.C. portion of student loans as of February 19, 2019, for both new and existing loans. Anyone who is currently working to pay off their student loan will get immediate relief. For example, someone with $28,000 combined federal and provincial loan debt will save approximately $2,300 in interest charges over a 10-year repayment period.

“For far too long young people have struggled to get ahead,” Chen remarked. “Budget 2019 is putting money back into the hands of hard working people. Instead of worrying about growing debt, young people will be able to focus on learning, and graduates will be able to put their energy into their career.”

Budget 2019 continues to prioritize affordability for British Columbians who need it the most. The New Democrat government is working hard to help young people and new families get off to a good start in their lives and careers.

Learn More: https://www.bcbudget.gov.bc.ca/2019/default.htm