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Nova Scotia residents who receive student assistance will get a one-time payment of $550 “to help post-secondary students with the rising cost of living,” the province announced Tuesday.
There are about 11,000 students who receive student assistance, which provides needs-based financial assistance to those who would be otherwise unable to attend post-secondary studies.
“We know the rising cost of living is affecting students, and we’re looking at ways we can help so they can focus on their studies and future,” said Brian Wong, Minister of Advanced Education, in a release.
“I want students to know that we are listening to their concerns and finding solutions to help make things more affordable, especially for those with the highest need.”
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The province is spending $6.2 million to fund the grants, which will not have to be repaid. Students do not have to apply, as the grant will be deposited automatically into the bank accounts of most eligible students in January.
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“The timing for some students will depend on the start date of their studies,” the release said.
Read more: New Brunswick getting rid of interest on provincial student loans
Those eligible for the one-time grant must:
- Be Nova Scotia residents;
- Qualify and receive Nova Scotia student assistance during the 2022-23 academic year;
- Attend university, Nova Scotia Community College or a private career college.
Kyle Cook, the chair of Students Nova Scotia, said in the release that students are increasingly struggling to balance the rising costs of education, housing, groceries and transportation.
“This investment in students comes at a critical time and will help over 11,000 borrowers in financial need focus on their studies instead of wondering how they will make their next rental payment or keep the lights on for the winter term,” he said.
The province also announced last month that it would increase income thresholds in Nova Scotia’s repayment assistance plan and provide better access to student loans for people with disabilities.
