- Reuters•2 months ago
Brazil's Education Ministry has vowed to cut subsidies to a federal student loan program known as Fies as the government seeks to make it fiscally sustainable over the long run. The government will reduce the ceiling for Fies loans to 30,000 reais ($9,635) per student per semester, down from 42,000 reais, Education Minister José Mendonça Bezerra Filho said in a statement with Mansueto de Almeida Junior, economics affairs secretary at the Finance Ministry. The government estimates about 30 percent of the students have defaulted on their Fies loans.
- Reuters•6 months ago
Brazilian Senate President Renan Calheiros sent a letter on Thursday to President Michel Temer asking that he issue a presidential decree to free up credits related to the Fies student loan program, according to a Senate statement. Reuters reported that Brazil's Education Minister Mendonça Filho asked lawmakers to approve the Fies credits as soon as possible.
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