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Vol 37  No 16
June 30, 2005


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Changes to student loans announced

The Government of Newfoundland and Labrador is making a number of further investments that will improve financial assistance to post-secondary students.

Tom Hedderson, minister of Education, announced June 17 a series of changes to the province’s loans programming. Effective Aug. 1, 2005, the provincial student loan limits will increase from $110 to $140 per week. The debt reduction grants program will be enhanced and applied against new weekly provincial loan limits. Additional improvements will see more students from low- and middle-income families qualify for loans, by lowering the amounts some parents are expected to contribute, and by increasing the number of families whose children will qualify. There will be more assistance to students repaying their loan, whereby the income thresholds for interest relief eligibility will be increased by five per cent. The minister also intends to request that the Canadian Millennium Scholarship Foundation pilot a program to provide enhanced financial support for dependent students from low-income families.

For more, see www.releases.gov.nl.ca/releases/2005/edu/0617n06.htm.

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