The Government of Newfoundland and Labrador has announced changes to the provincial student aid program that will provide financial benefit to students attending Memorial University.

Bernard Davis, Minister of Education and Early Childhood Development announced the following measures to support students:

• Increased weekly provincial student loan and provincial student grant limits by 20 per cent, from $100 per week to $120 per week, and corresponding increases for Faculty of Medicine students and a 20 per cent increase to loans for out of province students. This change will increase the value of available assistance to students who are currently receiving the maximum allowable financial aid.
• Increased per-course value of the Memorial University Tuition Relief Grant, from $345 per course to $420 per course. This change will adjust the per course value of the Tuition Relief Grant to align with tuition at the university.
• Lowered program duration eligibility threshold for NL Debt Reduction Grant Program, from 80 weeks to 60 weeks. This will allow for students in 60-week or longer programs to become eligible for debt reduction. The program aims to help students repay their provincial student loans by converting them into non-repayable grants.

“I am pleased to see the provincial government’s increased investment in supporting students who avail of financial aid,” said Dr. Amy Warren, acting provost and vice-president (academic).

“This additional support from government will no doubt remove some of those financial barriers that have previously interfered with a student’s ability to complete their program. Student aid is one of the pillars of accessibility to post-secondary education in this province. The increase in loan and grant limits, the increase in per- course value and the adjustments to program length for eligibility for the debt reduction program, are welcomed and necessary steps that help ensure students from Newfoundland and Labrador have a clearer path to success at Memorial University.”

Details on these changes are available online here.