GSS endorses BCFS’s ‘Knock Out Interest on Student Loans!’ Campaign

GSS endorses BCFS’s ‘Knock Out Interest on Student Loans!’ Campaign

Sara Hosseinirad VP External

The GSS is excited to announce our endorsement of the current ‘Knock Out Interest on Student Loans!’ campaign being running by the British Columbia Federation of Students (BCFS). We’re formally joining the list of organizations that have publicly declared their support for this campaign, including SFSS and UBC AMS.

First off, what is this campaign? And who is BCFS?

BCFS is a provincial advocacy alliance of universities and colleges from across B.C. They work to provide post-secondary student with a unified voice to influence access to education, operating at both provincial and federal levels. They’ve had some major victories in their campaigns, including their work to eliminate interest on B.C. student loans (which was successfully passed last year). Now they’re taking on eliminating interest on federal student loans in their ‘Knock Out Interest on Student Loans!’ campaign.

For the average Canadian student graduating from an undergraduate degree, they’re typically looking at $5,000 in interest on top of their federal loans. Interest on federal student loans has been shown to unfairly penalize low and middle-income students, making this a system that unfairly punishes those who can’t pay up front. Eliminating interest on these federal loans will help graduates focus less on debt and more on their career and lives. The GSS believes in accessible and affordable education, and we hope to see this campaign succeed.

So, what does our endorsement mean for GSS members?

Domestic graduate students often come to UBC with student loan debt from their undergrad. Despite the fact interest rates stall when individuals re-enter school, when these students finally finish graduate education they’re left with this accumulating expense from their undergrad. This is an additional burden and barrier to students looking to start their lives post-grad.

GSS VP External Relations, Sara Hosseinirad, says: “As always, we at the GSS will continue working and advocating for affordable education. Since this campaign is run by BCFS, they will be taking the lead on the advocacy and campaign work. The GSS will be supporting them by hosting local activities to raise awareness and support for ‘Knock Out Interest on Student Loans!’. If you want to have your own voice heard on this issue, any grad student can also sign the open  letter individually.”

OPEN LETTER

Knockout Interest

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