A specific loan repayment program for Student Financial Assistance is being discontinued.
The Northern Bonus provided up to $2,000 per year in loan forgiveness for eligible students, and up to a lifetime maximum of $10,000. To receive the Northern Bonus, individuals had to physically reside in the NWT for 12 consecutive months without being enrolled in full-time post-secondary studies. Now, it will no longer be available.
This decision was made as part of the GNWT’s review of its fiscal capacity. Caitlin Cleveland, the Minister of Education, Culture, and Employment, called the decision “difficult, but necessary.”
“With the significant improvements that have been made to Student Financial Assistance last year, we are confident that NWT students are well-supported in their pursuit of post-secondary education.”
The Student Financial Assistance received a boost last year in order to help students with their financial needs.
Applications for loan repayment programs can be found by clicking here.
