Advanced Education and Skills
September 2, 2014
Supporting Post-Secondary Education for a Strong Economy
Minister Welcomes Post-Secondary Students to New Academic Year
The coming year brings opportunity for students to excel in their studies. Today, the Honourable Kevin O’Brien, Minister of Advanced Education and Skills, welcomed post-secondary students to the 2014-15 academic year.
“I want to take this opportunity to welcome post-secondary students to the fall semester. Our government recognizes the value of post-secondary education for students, families, communities, and our province as a whole. We believe that building a strong, educated workforce is key to retaining strong, vibrant communities and a robust economy. ”
- The Honourable Kevin O’Brien, Minister of Advanced Education and Skills
The Provincial Government continues to invest in building a strong, educated workforce. These investments, as outlined below, are helping ensure more students than ever are completing their post-secondary education in Newfoundland and Labrador.
- This year, students will see a significant reduction in the amount to be repaid on student loans as Budget 2014 commits $14.7 million for two years to eliminate provincial student loans and replace them with upfront needs-based grants - with a projected investment of approximately $50.6 million over five years;
- Students will also benefit from the provincial grant portion of their financial assistance being issued at the beginning of the semester, along with federal and provincial loans. This builds on enhancement to the delivery of student financial assistance that occurred in 2013-14 when federal and provincial loans arrived in student’s bank accounts within the first few days of the semester;
- The Provincial Government is investing another $5.1 million to continue the tuition freeze for students attending Memorial University and College of the North Atlantic; and
- Since 2005, the Government of Newfoundland and Labrador has invested more than $282 million to freeze tuition. Combined, these investments are making Newfoundland and Labrador students the envy of the country with the best student aid program in Canada.
“The job outlook for our province is very strong, and in the coming years we will need a well-educated workforce to meet labour demands. We are committed to affordable education and to providing students with every opportunity to participate in world-class, large-scale industrial developments in our province. It is our hope that through our ongoing investments to reduce student debt, more students will choose to pursue post-secondary education in Newfoundland and Labrador and stay in our province, where their talents and skills will play a role in the province’s future success.”
- Minister O’Brien
For more information on student aid in Newfoundland and Labrador please visit: //www.aes.gov.nl.ca/studentaid/index.html.
QUICK FACTS
- The Honourable Kevin O’Brien, Minister of Advanced Education and Skills, welcomes post-secondary students to a new academic year.
- The Provincial Government is investing $14.7 million for two years to eliminate provincial student loans, with a projected investment of approximately $50.6 million over five years.
- The Provincial Government is continuing the tuition freeze at Memorial University and College of the North Atlantic. Since 2005, the Government of Newfoundland and Labrador has invested more than $282 million to freeze tuition.
- For more information on student aid in Newfoundland and Labrador please visit: //www.aes.gov.nl.ca/studentaid/index.html.
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Media contacts:
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John Tompkins Director of Communications Department of Advanced Education and Skills 709-729-0753, 728-7762 jtompkins@gov.nl.ca |
2014 09 02 8:50 a.m.