Education
February 16, 2011

Minister Accepts Fund the Future Postcards
From Province’s Public Post-Secondary Students

The Honourable Joan Burke, Minister of Education, met today with representatives from the Canadian Federation of Students (CFS), as well as representatives from all five public post-secondary student unions in the province to accept about 15,000 postcards relating to their Fund the Future campaign.

“It was great to get together and have the opportunity to talk with the students,” said Minister Burke. “We have worked closely over the years to ensure students have the best possible student aid program. It has been extremely helpful to maintain an open dialogue as we explore all reasonable options to keep provincial student debt as low as possible.”

Newfoundland and Labrador is a recognized leader in debt reduction initiatives, and Minister Burke noted several initiatives have been developed in collaboration with post-secondary students and graduates. For example, tuition fees in Newfoundland and Labrador are among the lowest in the country, with the Provincial Government having invested $101.6 million to freeze tuition fees at Memorial University and College of the North Atlantic over the past six years.

Up-front, needs-based grants were introduced in 2007 and expanded in 2009, so that students can now receive almost 60 per cent of their provincial assistance in the form of a non-repayable grant. With the allocation of approximately $46 million to date, this has more than cut in half the amount of money a student borrows in provincial loans. In addition, since 2007, over $21 million has been allocated to reduce, and subsequently eliminate, the interest on the provincial portion of student loans.

These changes are having a direct impact on students. Since 2003, student debt levels have been reduced by 20 per cent for undergraduate programs at Memorial and, on average, by 12.4 per cent at College of the North Atlantic (CNA) and 8.3 per cent at private colleges.

“We were pleased to have the opportunity to present Minister Burke with our Fund the Future postcards today,” said Daniel Smith, Newfoundland and Labrador Chairperson of the Canadian Federation of Students. “This campaign has a simple, but powerful message – increased funding now for our post-secondary system to improve quality, decrease barriers to access, and reduce student debt is an investment in our province’s future.”

Minister Burke acknowledged and supported that message, noting that in addition to student aid and debt reduction initiatives, funding has increased in many other areas of the post-secondary system.

Since 2003, the Provincial Government has increased Memorial University’s total operating and capital budget by 120 per cent, from $145 million to $320 million. In addition, $88 million has been earmarked for new residences at both the St. John’s and Grenfell campuses. At College of the North Atlantic, investments have increased by almost 60 per cent since 2003, from $50.6 million to $80.4 million in 2010.

“These investments and others translate into a Provincial Government investment of more than $17,000 for every post-secondary student in the province, an increase of 92 per cent over the past seven years,” said Minister Burke. “These figures speak for themselves. We value our students. We want them to have the best education possible without incurring an unmanageable debt. And we will do all that we can to continue to make strategic investments in their future.”

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2011 02 16                                                       10:45 a.m.