NL to replace student loans with non-repayable grants

March 31, 2014

The 2014 Newfoundland and Labrador budget, tabled last week, includes $50.6 million over 5 years to eliminate provincial student loans and replace them with non-repayable, upfront grants; according to CBC News, about 7,000 students are expected to be eligible. The budget also committed to maintaining its PSE tuition freeze (at a cost of $5.1 million), and $39.8 million for continuing its apprenticeships and labour-market training programs. The Canadian Federation of Students (CFS) has welcomed the budget’s move to replace student loans with grants, calling it “a landmark step towards equality of access to postsecondary education.” Budget | Budget Highlights | CBC News | CFS News Release