GPRC students join national Knock Out Interest campaign
The Students Association of Grande Prairie Regional College (SAGPRC) has joined the national Knock Out Interest campaign to call for an end of interest accruing on student loans.
The average cost of tuition in Canada is $30,000, and with a base interest rate of 2.45 per cent, graduates typically pay back an additional $4,000 on interest alone.
The Knock Out Interest campaign is calling for the Canadian Government to follow the lead of several provinces, and no longer charge interest on federal loans. British Columbia, Manitoba, Newfoundland and Labrador, Nova Scotia, and Prince Edward Island do not charge interest on provincial student loans, but many students still have to apply for federal money, which means they leave school with a growing debt.
The Knock Out Interest movement was started by the BC Federation of Students, which is a provincial advocacy group, and they are being supported by a number of advocacy groups and organizations across the country, including the Alberta Student Executive Council.