Government of Nova Scotia      gov.ns.ca

April 2011

Information on the 2011-12 Web Application for Student Assistance

The web application for Student Assistance for the 2011-12 year will be available May 16, 2011.  As an enhancement for students, the Student Assistance Office can send you an email to inform you of any changes to the date that the web application will be available.  If you would like to be informed of any changes to this date, please click on the "Subscribe to Our Mailing List" button on our home page and provide your email address.  Any updates to the status of the web application will be sent directly to this email address. 

Student Loan Debt Cap in Nova Scotia

The province of Nova Scotia has announced the first “debt cap” in the province’s history, providing Nova Scotia students who complete an undergraduate degree, and have Nova Scotia Student Loan, with a $28,560 maximum debt cap. That means a drop of up to $16,320 in the maximum amount of debt a student may carry.  The debt cap of $28,560 will be applicable for all 1st year students entering into a 4 year undergraduate degree in the 2011-12 academic year, effective August 1st, 2011.  Students who will be entering into their 2nd, 3rd or 4th year of an undergraduate degree as of August 1st, 2011 will also see a proportionate debt cap applied to their loan balances upon graduation.  Students will not be required to submit a separate application for the debt cap.  Eligibility will be assessed by the Nova Scotia Student Assistance office upon graduation.  An increase to the grant issued by the Nova Scotia Student Assistance Office from 20% to 30% to all Nova Scotia students will also help with the management of student debt upon graduation.

Further details on the debt cap will be posted to the website as they become available

Nova Scotia Budget 2011 Announcements for Student Assistance

On Tuesday April 5, 2011, the government of Nova Scotia presented its annual budget. Below are the highlights of what the Budget contained for the students of Nova Scotia:

  • Keep Nova Scotians’ tuition below the national average by investing $30 million in student bursaries to replace the expired Nova Scotia University Student Bursary Trust. This new, provincially funded commitment will provide a tuition reduction of $1,283 for Nova Scotia students studying in the province.
     
  • Create the first “debt cap” in the province’s history, providing Nova Scotia students who complete an undergraduate degree, and have Nova Scotia Student Loan with a new $28,560 maximum debt cap. That means a drop of up to $16,320 in the maximum amount of debt a student may carry.
     
  • The Nova Scotia Student Loan limit will increase to $160 per week of study for all Nova Scotia students, with the loan-to-grant ratio improving to 70 per cent loan and 30 per cent grant.
     
  • Offer up to $612 per year in additional grants for a 34 week program, through an increase in the loan-to-grant ratio from 20 to 30 per cent.
     
  • Double the in-study earnings exemption on student loans—from $50 per week to $100 per week.
     
  • Increase the amount allowed for the purchase of books by 50 per cent, from $1,000 to $1,500.
     
  • Protect students by capping tuition increases at 3 per cent.
     
  • Continue the successful Graduate Retention Rebate, which provides a tax credit of up to $15,000 to university graduates and $7,500 for community college graduates, over six years.
     

More details on the Debt Cap to follow in the coming weeks.

To see full details on the Budget, click here.