October 6, 2016 / 11:12 PM / in 2 years

Brazil Senate chief urges Temer to approve student loans by decree

SAO PAULO, Oct 6 (Reuters) - 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.

Disbursement of the Fies loans, which the government uses to subsidize university education for poorer students, is part of a bill sent to Congress that was not voted on as expected on Wednesday due to lack of a quorum, the letter said.

Reuters reported that Brazil’s Education Minister Mendonça Filho asked lawmakers to approve the Fies credits as soon as possible. Once approved by lawmakers, the government is expected to release 702.5 million reais ($217.7 million) in Fies credits. ($1 = 3.2260 reais) (Reporting by Ana Mano)

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