Mr. Speaker, in 2007, this government took the progressive step of introducing up-front, needs-based grants for students applying for a student loan. These grants have the potential to cut in half the amount of money a student has to borrow. This past August, we increased these grants by $10 per week, meaning students who borrow the maximum of $140 per week now receive $80 of that amount in the form of a non-repayable grant.

I am happy to report, Mr. Speaker, that between April and October of this year, approximately $5.3 million has been awarded in grants, translating into an additional $400,000 that has gone into students� pockets over this time last year.

We are incredibly proud of our student aid package Mr. Speaker. We are recognized as leaders nation-wide in student debt reduction and we have received accolades from student union leaders across the country.

We have frozen tuition � tuition that is among the lowest in the nation, second only to Quebec tuition for Quebec students. Up-front grants greatly reduce the amount of money a student will eventually need to repay, while our debt reduction grants can eliminate some or all of the provincial portion of the student loan. And of course, just this August, we eliminated interest on the provincial portion of the loan with an investment of $5 million annually that is helping 49,000 individuals in repayment.

We want our students to stay in the province, and use their skills and knowledge to continue to build on our success. To that end, this year alone $437 million will be invested in the public post-secondary system, a 76 per cent increase since 2003. And our investments are paying off, Mr. Speaker. As CareerSearch 2008 indicates, graduates are finding employment and the majority is doing so within the province. These students have benefited from a top-rate education and are now contributing their skills to the economic and social growth of communities across Newfoundland and Labrador.