How Canada's Most Eastern Province Is Fighting Student Debt
The move to ease the financial burden on college graduates is expected to cost the government more than $50 million over the next five years.By Kate Grumke | August 5, 2015
The most Eastern province of Canada has decided to try something new when it comes to student debt. It's getting rid of loans and replacing them with grants that students don't have to pay back.
It's part of an attempt to address student loan debt in the province. The Government of Newfoundland and Labrador says four-year university students will graduate on average with almost $12,000 less debt. (Video via Memorial University of Newfoundland)
CTV reports the move will affect 7,000 students.