Funding for Student Investment and Opportunities Corporation

Youth Services and Post-Secondary Education Minister Anna Thistles says Budget 2003 provides $9.2 million for the Student Investment and Opportunities Corporation (SIOC), including $3 million for the new Youth Opportunities Newfoundland and Labrador program.

"Addressing the transition from school to work is part of the mandate of my department and this continued investment will help build on employment programs already in place throughout the province," said Minister Thistle.

"This funding will provide for the continued support of youth employment and career development through a broad range of programs designed to assist students and graduates obtain employment and work experience, " added the minister. "SIOC funding helps to offset the cost of education and ensures that young people, especially those living in rural areas, can avail of opportunities to save more money for their education, thus reducing their need to borrow."

Since the corporation was established in 2001, its programs have helped more than 7,000 Newfoundland and Labrador students acquire valuable work experience right here at home. This corporation provides student employment through programs such as the Student Work and Services Program (SWASP) and Tutoring/Work Experience program. Seventy-five per cent of the employment supported by the SIOC is in rural Newfoundland and Labrador.

Media contact: Kathy Dicks-Peyton, Communications, (709) 729-6573.

2003 03 27                                      4:35 p.m.