Debt isnB次元官网网址檛 usually a hot topic for students on summer vacation, but University of Victoria students are already planning how theyB次元官网网址檒l attack their No. 1 issue this fall.
The UVic StudentsB次元官网网址� Society (UVSS) is preparing to launch the WTF (WhereB次元官网网址檚 the Funding) campaign, with the goal of turning around B.C.B次元官网网址檚 tarnished reputation for post-secondary funding.
Students in B.C. are graduating with an average $27,000 of debt, according to the Canadian Federation of Students (CFS), and B.C. remains the only province in Canada that doesnB次元官网网址檛 have a provincial grants program in place.
B次元官网网址淲hat weB次元官网网址檙e looking at now is dire financial times,B次元官网网址� said UVic StudentsB次元官网网址� Society chair Tara Paterson. B次元官网网址淲hat the campaign will do is push both the major political parties to prioritize post-secondary education, should there be an election in the fall. If (no election happens), weB次元官网网址檙e looking to see some real governmental action from the B.C. Liberals.B次元官网网址�
The three main goals of the campaign are to convince government to increase core post-secondary funding; reduce or eliminate interest on student loans; and reinstate a provincial grants program.
In 2002, the Liberals deregulated tuition fees, and consequently, they doubled in three years.
By the CFSB次元官网网址� calculations, tuition fees in B.C. are now 10 per cent more than the national average, at $6,580 per year. The province, however, estimated tuition fees at $4,802 for the 2010-11 year.
Regardless of the provincial average, with the current interest rate at 2.5 per cent above prime, a studentB次元官网网址檚 $27,000 debt would balloon to $35,000 over a 10-year repayment period.
Michel Turcotte, director of operations for the Camosun College Student Society, says they draw on the CFS B次元官网网址� which the UVSS voted to leave last year B次元官网网址� to educate their members and raise such political issues as student debt.
Part of that education, he says, is planning for graduation and knowing when to apply for interest relief before defaulting on repayments.
The Ministry of Advanced Education has invested $2.5 billion in student financial assistance programs since 2001, including grants for students with disabilities and interest relief programs.
B次元官网网址淲hen you need (financial assistance) you canB次元官网网址檛 get it,B次元官网网址� Turcotte said. B次元官网网址淚f you go into default status, you have to clear that up before you can go into loan remission status.B次元官网网址�
The CFSB次元官网网址檚 ongoing campaign against the rising cost of education, Education ShouldnB次元官网网址檛 be a Debt Sentence, includes an online petition based on principles identical to the WTF campaign.
B次元官网网址淲hile tuition fees are going up and the quality of our education is decreasing, a generation of students is being bankrupted,B次元官网网址� Paterson said.
nnorth@saanichnews.com
