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Prince Edward Island Debt Reduction

Prince Edward Island Debt Reduction Grant Eligibility Criteria



Please ensure you meet the following eligibility criteria before applying for a Prince Edward Island Debt Reduction Grant

  1. Your combined Canada and Prince Edward Island Student Loan net yearly debt exceeds $6,100. Only those years with debt higher than $6,100 with at least $100 of provincial funding (PEI Student Loan) will be included. The student loan year for debt reduction coincides with the Prince Edward Island Student Loan year of May 1 to April 30.
  2. Eligible years for debt reduction are those in which you were enrolled in the program from which you graduated.
    Note:
    1. The maximum debt reduction grant is $2,000 per year, based on the minimum required length of a program plus one year.
    2. Over-payments (overawards) calculated during your year(s) of study will be deducted from your annual debt and may reduce or eliminate your debt reduction grant.
    3. Net yearly debt refers to outstanding loan balances after any reductions to loans issued, which could include refunds, voluntary payments or Canada Millennium Scholarship Foundation Bursaries.
    4. Grants will only be issued for amounts that are greater than $100.

If you meet all of the above eligibility criteria download a PEI Debt Reduction Grant Application



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