PEI students applaud new changes to student loan program

February 25, 2016

PEI has announced a series of changes it will be making to its student loans program for the 2016-17 academic year. The weekly maximum loan available will increase from $165 to $175, and will be adjusted for inflation every year from 2017-18 onward. PEI also announced that it will extend the grace period on loan repayments from six months after the completion studies to a full year. Finally, the province will introduce a new severe permanent disability benefit, as well as a rehabilitation program for students who have defaulted on their student loans. “This is fantastic news for UPEI students,” said Dana Kenny, student union president at the University of Prince Edward Island. “Our advocacy efforts have become a central and tangible service for students and the government’s announcement is a huge advocacy win for them.” The Guardian