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Nova Scotia announces $8 million in student loan forgiveness in 2020

Advanced Education Minister Labi Kousoulis said the student loan forgivenes program puts money back into students' pockets so they can focus on next steps after their post-secondary education. Elizabeth McSheffrey/Global News

The N.S. Loan Forgiveness Program has forgiven approximately $8 million in student loans for over 1,000 Nova Scotian students who graduated from a university in the province this year

The province says that since Aug. 1, eligible students at NSCC can also have all N.S. student loan debt eliminated.

“We want to set our young people up to succeed in our province, to set down roots and establish careers here,” said Labour and Advanced Education Minister Labi Kousoulis in a news release.

“This program puts money back into their pockets so they can focus on next steps after their post-secondary education.”

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The province says it provides one of the best student-assistance programs in Canada.

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“Provincial loans are interest-free and there are upfront grants, loan forgiveness and the Nova Scotia University Student Bursary. Combined, an eligible student can receive more than $40,000 they do not have to repay,” read the release.

According to the release, loan forgiveness now also includes certificate and diploma programs at universities and NSCC.