Wish to go back to school but don’t want to be burdened by massive student debt? Don’t let financial distress hinder your dreams of pursuing post-secondary education. If you reside in the beautiful province of Newfoundland and Labrador, you’re in luck. You can take advantage of the provincial student aid that the province has to offer to turn your education aspirations and career goals into reality.
Newfoundland and Labrador offers multiple provincial student aid programs for high-school graduates and working professionals to get back to college. If you’re a resident, you can benefit from the different funding programs such as Provincial Loans and Grants for Full-Time Students, Provincial Part-Time Incentive Grant, and the Provincial Grant for High Need Students with Permanent Disabilities.
Here’s a glimpse into each of these different provincial student aid programs available to you:
Newfoundland and Labrador’s premier funding program, Provincial Loans and Grants for Full-Time Students, allocates a mix of loans and grants for students enrolled in full-time post-secondary education programs within the province.
Your eligibility for this provincial assistance is based on a financial needs assessment, calculated by subtracting your available resources from the cost of your chosen education program and your living expenses while in school. Assistance will be offered only if you have a positive assessed need. Students with negative assessed needs are adjudged to have sufficient funds to cover their post-secondary study.
Basic eligibility criteria to apply for the Provincial Loans and Grants for Full-Time Students program include, but not limited to, being a resident of Newfoundland and Labrador, a demonstrated financial need, and enrollment in a full-time study program. As a full-time student, you can expect up to $750 per month in funding in the academic year 2021-22.
This provincial grant offers monetary aid if you are pursuing a part-time post-secondary program in the Newfoundland and Labrador province. This assistance program complements funding available via the Canada Student Loan Program for Part-Time Studies. So, you are automatically assessed for this incentive grant if you apply for the Canada Student Loan Program for Part-Time Studies.
Other major eligibility criteria for the Provincial Part-Time Incentive Grant include but are not limited to:
The grant amount that you may receive through this scheme is limited to a maximum of $500 per semester; a maximum of $1,000 in a year.
This grant allows students with permanent disabilities to get financial assistance and additional benefits for accessing and completing their post-secondary education.
As a student with a permanent disability, you may qualify for more time to complete your education with financial assistance. You may also be considered as a full-time student if you choose to take up 40% or more of the course load. You may be eligible for extra funding for your education expenses that are related to your disability.
The Provincial Grant for High Need Students with Permanent Disabilities provides financial assistance over and above the fund provided through the Canada Student Grant for Services and Equipment for Students with Permanent Disabilities.
Apart from the various provincial student assistance programs mentioned above, the students of Newfoundland and Labrador could also explore federal student aid options. Don’t worry if you don’t qualify for any of the provincial financial aid programs as you could try your luck with federal funding schemes. Some of the popular federal student aid programs available are Federal Student Loan, Federal Student Grant, Federal Student Scholarship and Federal Student Bursaries
Excited to pursue post-secondary education? Just pick your favourite school and program, keep an eye out for application deadlines, and make the most of Newfoundland and Labrador’s provincial financial aid plans!