The board adopted a policy supporting legislation that would allow borrowers to refinance their student loan
debt at lower interest rates, something they can't do today.
By
borrowing at low interest rates, such as through a second mortgage, debt consolidation reduces your monthly payments, and is a good alternative to bankruptcy.
A clean credit report helps ensure you have a strong credit rating so you can purchase property and other assets, as well as qualify for new lines of
credit at low interest rates.
Also, when interest rates fall, some bond issuers may redeem existing debt and issue new
bonds at a lower interest rate, just as you might refinance a mortgage.
Their returns are higher because the federal government can borrow
funds at a low interest rate while workers can invest the funds at a high rate.
These institutions had to pay more for their deposits than they were earning on their mortgage loans, many of which had been made in earlier
years at low interest rates.
If you want to make a major purchase such as e a house or a
car at a low interest rate, it's in your best interest to have a high credit score.
Parents and students alike are drawn in by the offer to borrow large amounts of money
at a low interest rate when they don't have to make any payments for a few years.
Ultimately these green bonds will only truly be successful if they allow the province to finance transit
projects at a lower interest rate than would otherwise be the case.