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February 16, 2004
FOR IMMEDIATE RELEASE
04-08
ST. JOHN'S, NEWFOUNDLAND AND LABRADOR- The Honourable John Ottenheimer, Minister of Youth Services and Post-Secondary Education, and the Honourable Paul Bonwick, Parliamentary Secretary to the Minister of Human Resources and Skills Development with special emphasis on Student Loans, today officially announced the Canada-Newfoundland and Labrador Administrative Integration Agreement to deliver student financial assistance.
The Agreement commits to integrating activities related to the administration of federal and provincial student loans in Newfoundland and Labrador, as the province becomes the direct lender for the Newfoundland Labrador Student Loans Program. This collaboration between governments will result in better service for student borrowers.
"This new loan servicing arrangement will positively affect the lives of approximately 30,000 student borrowers, either in repayment and/or in school," said Minister Ottenheimer. "The Province is becoming the direct lender for the provincial loan program, and will also continue to determine eligibility for provincial student loans and set provincial loan policies."
"As stated in the Speech from the Throne, the Government of Canada recognizes that lifelong learning and opportunities to upgrade the skills of Canadians are critical to our country's economic prosperity and to individual success," said Parliamentary Secretary Bonwick. "This new agreement builds on the partnerships we have already forged, and we look forward to a long, mutually beneficial relationship in administering financial aid for students."
Within days, individuals with provincial and federal student loans, including those currently attending a post-secondary institution and those in repayment, will receive letters outlining how this new agreement will affect the administration of their personal loan. Information sessions are being arranged for St. John's, Grand Falls-Windsor, Corner Brook and Happy Valley-Goose Bay in the coming weeks to provide additional information.
For more information regarding the Integration Agreement, student borrowers may visit the Department of Youth Services and Post-Secondary Education Web site at www.gov.nl.ca/youth/, or call Newfoundland and Labrador Financial Aid Services at (709) 729-1093 or toll-free at 1 888 729-1093.
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For more information, contact:
Lynn Salter
Director of Communications
Department of Youth Services and Post-Secondary Education
(709) 729-0048
Media Relations Office
Department of Human Resources and Skills Development
(819) 994-5559
