The new two-stage Repayment Assistance Plan for students –  a key part of the Family Affordability Pillar will take effect on July 1.

The first stage provides payment assistance for the interest portion of the student loan, while the second stage provides payment assistance for the principal portion of a loan.

Premier Christy Clark says: “When it comes to repaying student loans, we want to ensure that low-income students and their families have the extra support they need to move forward.”

“The student loan repayment assistance program will help about 20,000 students in B.C. with low incomes who are struggling to get ahead.”

“Our government is working with the provinces and territories so students and their families can afford post-secondary education,” said the Honourable James Moore, Minister of Canadian Heritage and Official Languages and Minister responsible for British Columbia. “While most borrowers repay their loans without difficulty, some require assistance. By aligning our programs, the governments of Canada and B.C. are providing students with additional support.”