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Debt Reduction Grants

Effective August 1, 2002, Newfoundland and Labrador implemented a program that allows up to the full amount of the provincial portion of a student loan to be converted into a non-repayable grant. There is no application process. Students are automatically assessed.

You qualify if:

• you graduate from a post-secondary program within this province that is at least 80 weeks in duration;
• you borrow in excess of $165 per week of study during a semester;
• you are successful in at least 80% of a full course load each semester;
• you apply and are deemed eligible for assistance for at least half of the required length of your post-secondary program; and,
• you have a remaining provincial loan balance after Canada Millennium Bursaries are applied and any adjustments for over-awards

Under certain circumstances, you may qualify for an exemption from the 80% success rate requirement and the requirement to study in this province, provided you submit a written request along with supporting documentation to demonstrate exceptional circumstances.

If you pass 100% of a full course load during a semester, your grant will be equal to the total.

DID YOU KNOW?
You can reduce your provincial student loan debt by doing 100% of a course load.

Note: You must respond to all requests for required documentation from the Student Financial Services Division within two years of graduation.