CBC investigates loan default rates at Cape Breton distance education provider

June 17, 2015

A CBC report has raised questions about student loan default rates for a Cape Breton distance education provider. According to CBC, Mactech Distance Education has one of the lowest student loan repayment rates in Canada. Last year, 46% of Mactech students were repaying their loans on time, compared to a national average of 87%. British Columbia and Prince Edward Island both refuse to fund students who wish to attend the school. A Mactech spokesperson said many of its students lack social supports that would help them repay their loans, and that the school has a dedicated career services division to help graduates find work and repay loans. NS has so far elected to work with the college to improve the repayment rate rather than rescind its designation. CBC