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Changes Announced To Provincial Student Loans Program

Yarmouth, NS, Canada / Y95.5
News
Oct 31, 2016 | 11:32 AM
Changes Announced To Provincial Student Loans Program


The province has announced changes to the provincial student loans program. 

Beginning November first, students won’t have to repay their loans until they are making more than $25,000.

That’s an increase of $5000 over the previous threshhold.

Labour and Advanced Education Minister Kelly Regan says this brings the province in line with the federal government on the Repayment Assistance Plan.

“Anytime there are changes in the student loan program federally we get a heads up. And then we start looking at can we do this and how can we do this?”

Regan says government is listening to students.

“The plan is available to borrowers who are having difficulty managing their monthly provincial student loan payments.”

This move comes after the province previously announced up to $30,000 of non-repayable support for a four-year university program.

Regan says government is trying provide incentives to ensure students complete their studies in Nova Scotia in a timely fashion.

She says they’re trying to ensure students can complete their studies without financially crippling themselves as they enter the workforce.