Crippling student loans contribute to Chile's protests

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Spiralling student debt, with some loans the size of a mortgage, pricey tuition fees and a troubled education system have helped fan the flames of ...

SANTIAGO: Spiralling student debt, with some loans the size of a mortgage, pricey tuition fees and a troubled education system have helped fan the flames of Chile's deadly protests.

Guillermo Jobia, a 24-year old law student who has just graduated, said he paid"the price of a house, and that was being on a scholarship.""I think I'll never see the end of it, unless I get a job that pays, I don't know, a salary that would be impossible here." Birchmeier says he has been repaying student debt for the past five years,"and I still have 15 left".

"I'm not paying currently. I don't have the cash." The interest alone"is now 5 million pesos" - around US$6,700. "Public education in Chile is horrible. There are 40 per class. Only one teacher. We'll have to tighten our belts to send him to a private school."

 

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