Students can get $40,000 for education

Nova Scotia students can receive more than $40,000 to help with their post-secondary education.

New graduates can have their entire provincial student loan eliminated after five years of study, saving them up to an additional $20,400. The average bachelor of arts undergraduate degree in Nova Scotia completed in four years is about $27,000.

“We are committed to helping students pursue their post-secondary education and move into the workforce,” said Labour and Advanced Education Minister Labi Kousoulis. “Investing in our youth and in their education will encourage more of them to stay and build a life here, and contribute to our province’s economy.”

Government has expanded the Loan Forgiveness Program. Students who graduate after Aug. 1, 2017 and who complete their studies in five years or less can have their entire provincial student loan eliminated. Previously, students were required to complete their studies in four years or less. Students with permanent disabilities still have 10 years to complete their studies.

In addition, many students are receiving more money for their expenses during their studies. An increase in student assistance support from $180 per week of study to $200 per week of study began this year.

With all of this combined, an eligible student can receive more than $40,000 they do not have to repay.

For more information, visit novascotia.ca/studentassistance/