Brazil's Estacio delays start of college year on Fies loan program

lunes 2 de marzo de 2015 19:32 GYT
 

RIO DE JANEIRO/SAO PAULO, March 2 (Reuters) - Estacio Participações SA, Brazil's No. 2 for-profit higher education company, delayed on Monday the start of the college for a week as recent changes in a key state student loan program led to a slow response in applications.

The Rio de Janeiro-based company will start the college year on March 11 instead of this Wednesday, according to a company statement. In January, the government changed without warning the rules governing the program, which is known as Fies.

Fies provides roughly half of the revenue for some of Brazil's listed education companies.

(Reporting by Juliana Schincariol and Guillermo Parra-Bernal; Editing by Bernard Orr)