February 6, 2017 / 8:46 PM / in a year

Brazil limits Fies student loan program to make it sustainable

SAO PAULO, Feb 6 (Reuters) - 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. Other measures to reform the Fies program will be announced by end-March, the officials said. ($1 = 3.1137 reais) (Reporting by Cesar Raizer; Writing by Ana Mano; Editing by Daniel Flynn)

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