The “best student aid package in the country” - Macleans.ca

The “best student aid package in the country”

Newfoundland and Labrador eliminates interest on the provincial portion of student loans

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The government of Newfoundland and Labrador has released its 2009 Budget. The budget, which has a $750 million deficit, makes a number of changes to student financial assistance that, according to the minister of education, provide for the “best student aid package in the country”. Spending initiatives that will impact the student pocketbook include:

  • a continuation of the tuition fee freeze at Memorial University of Newfoundland and the College of the North Atlantic;
  • an increase in up-front, non-repayable, needs-based grants from $70 to $80 per week of study; and
  • the elimination of interest on the provincial portion of student loans.