Official Guidelines Updated: March 2026
Important Update for 2025–2026:
The Marion L. Reid Grant — a new provincial grant for PEI residents in eligible healthcare programs — launched in fall 2024 and continues for 2025–2026. The Debt Reduction Grant remains available to recent graduates with PEI provincial student loans, offering up to $3,500 per year of study — but awareness of this program is low. If you have or had a PEI student loan, it is worth checking your eligibility.
Prince Edward Island offers a well-rounded student aid system that combines loans, grants, and bursaries through a single integrated application. Whether you are a recent high school graduate or a working Islander returning to school, Student Financial Services is the starting point for both provincial and federal funding.
Key programs include the PEI Student Loan, the PEI Provincial Grant, the Community Service Bursary, the Debt Reduction Grant, and the newer Marion L. Reid Grant for healthcare students. Federal funding is assessed through the same application.
Let’s get into the details of Prince Edward Island’s provincial funding programs.
What Kind of Funding Is Available?
- Student loans to help cover tuition, books, and living costs
- Grants — including the PEI Provincial Grant and Marion L. Reid Grant — that do not need to be repaid
- Bursaries for students with financial need, volunteer history, or specific backgrounds
- Debt reduction for graduates still carrying PEI provincial student loan debt
- Scholarships recognizing academic achievement and community involvement
One application through PEI Student Financial Services assesses you for both provincial and federal funding, including non-repayable grants and bursaries.
Pro Tip:
The PEI Provincial Grant is assessed automatically when you apply for a student loan — you do not need a separate application. Make sure to apply early so your grant eligibility is assessed before payment deadlines.
Who Can Apply?
- Be a resident of Prince Edward Island
- Be a Canadian citizen, permanent resident, or protected person
- Be enrolled full-time in a designated post-secondary program
- Demonstrate financial need
- Meet academic and program requirements for your study status
Loans and Grants
PEI Student Loan
Full-time PEI residents can apply for both a federal Canada Student Loan and a provincial PEI Student Loan through a single integrated application. Together they help cover tuition, books, and living costs. The federal portion is permanently interest-free. Repayment begins six months after leaving full-time studies.
PEI Provincial Grant
A non-repayable grant for eligible PEI residents enrolled in programs of at least 60 weeks duration. Assessed automatically alongside your student loan application. The amount is based on income and family size, and gradually decreases as income increases. Note that shorter certificate programs under 60 weeks do not qualify for this grant.
Marion L. Reid Grant
Launched in fall 2024, this grant supports PEI residents enrolled in eligible healthcare programs at universities and colleges across Canada. Provides funding each academic year for the duration of an eligible healthcare program. Relevant for students in nursing, personal support, and other health-related fields.
Debt Reduction Grant
For PEI graduates who have completed their studies and still carry a provincial student loan. If you return to live in PEI within three years of graduating, you can apply to have a portion of your PEI student loan forgiven. Applies to graduates of any Canadian post-secondary institution — not just PEI schools.
Bursaries
Community Service Bursary
Awarded to PEI students in Grades 10, 11, or 12 who have done consistent volunteer work in their communities. Can be applied toward studies at any post-secondary institution — not just PEI schools. Credited directly to your post-secondary student account.
Scholarships
John J. Sark Memorial Scholarship
Named after the Island’s first Mi’kmaw teacher, this scholarship supports Indigenous PEI students pursuing post-secondary education. Applicants must have made a meaningful contribution to their Indigenous community. Open to students at any eligible institution.
French-Language Post-Secondary Studies Scholarship
For PEI graduates who wish to pursue post-secondary education through a French-language program not currently offered in the province. Supports Islanders who need to study outside PEI to access French-language programs.
Pro Tip:
The Debt Reduction Grant is one of PEI’s least-known programs — recent data shows uptake has dropped significantly despite the program offering up to $17,000 in loan forgiveness. If you have graduated with a PEI provincial student loan in the last three years and now live on PEI, check your eligibility before the window closes.
Other Financial Aid Options
In addition to provincial funding, PEI students may also qualify for federal programs such as Canada Student Grants, Canada Student Loans, Federal Student Scholarships, and Federal Student Bursaries. These are assessed automatically through your PEI Student Financial Services application.
Ready to explore your post-secondary options? Search for programs across Canada today.
