Newfoundland and Labrador’s April 26 budget announced nearly $30 million more in operating funds for Memorial University and the College of the North Atlantic, $3.25 million of additional investment in university research, more than $20 million for various research and innovation projects throughout the province, and granting Sir Wilfred Grenfell College full university status.
Last month’s budget also contained an extension of a freeze on tuition fees at Memorial University and the College of the North Atlantic coupled with the reinstatement of provincial grants to students in need of financial assistance, effective for 2007.
“Students applaud the government’s impressive efforts to improve the affordability of post-secondary education,” said Jessica Magalios, the provincial chair of the Canadian Federation of Students. “Newfoundland and Labrador is quickly becoming the best place to study in Canada.”
Magalios said implementing a needs-based grant system to reduce student debt was among key demands raised by students during this year’s day of action.
In addition, students were given a reduction in the interest rate charged on provincial student loans, from prime plus 2.5 per cent to prime.