Changes to National and Provincial Student Loans makes things easier for students
Posted Aug 4, 2012 05:36:21 AM.
This article is more than 5 years old.
Any post secondary applicant can tell you the student loan process can be a nightmare. But the Federal and Provincial government are making some helpful changes.
A $5.5 million investment into Provincial Student Assistance will allow students who demonstrate the need to get more money from up front grants.
Carol Lowthers, Executive Director of the Nova Scotia Student Assistance Office says part of a weekly living increase will not have to be paid back.
“What we’ve done is increased the weekly assistance level again so with students that have need and who qualifies can be eligible for $170 a week in assistance, of which 35% of that is non-repayable grant,” she explains.
What used to be a tedious process waiting on line at a campus for one signature will no longer be needed. Instead, campus’ will now confirm enrollment electronically and students will get their share of the loan quicker.
Lowthers says the Provincial loans Centre has been electronically confirming enrollment status for a while but it is new for National Student Loans and it’s a positive change for everyone involved.
“It’s a huge process improvement for students,” says Lowthers. “Instead of the student getting a document that they have to take to the institution and get the institution to sign to confirm that the student is actually there, enrolled in their program. It’s all being done electronically through a portal.”
The $5.5 million dollar investment comes in addition to last years $12.5 million investment in the Debt Cap Program and other improvements to the Nova Scotia Student Assistance loans and grants.
