NL budget commits $66 million to reduce student debt

April 25, 2012

Newfoundland and Labrador's 2012 budget provides approximately $66 million to reduce student debt through a continued tuition freeze at Memorial University and College of the North Atlantic ($44 million), up-front needs-based grants and interest-free student loans ($19 million), and debt reduction grants ($3 million). The budget includes more than $2 million to increase base funding at MUN's Marine Institute, and $1.7 million for the expansion of the university's engineering faculty. The province is allocating a total of $66.7 million in infrastructure investments for MUN, as well as $2.5 million to accelerate shop modernization at CNA. The budget also provides $4.1 million in new funding to support initiatives to advance apprenticeship opportunities and support underrepresented groups in skilled trades. NL News Release