Education Minister Mildred Dover advised today that students should get their student loan applications in by July 22 in order to have their money by September.

Minister Dover said it can take up to six weeks to process a student loan application. “Most students need their money in September. They should have their application in by July 22 so as not to be disappointed,” she said.

Application forms are now available online at www.studentloan.pe.ca. They are also available at all high schools, Island post-secondary institutions, Access PEI centres and the Department of Education at 16 Fitzroy Street. Official copies of income tax returns are required with the application this year. These may be obtained by contacting a local Canada Revenue Agency office or by calling 1 800 959 8281.

Last year, the Department of Education provided direct financial assistance of over $10 million to approximately 3,500 students through PEI student loan programs. This included funding of $8.3 million in loans and $2 million in grants. Through the PEI Debt Reduction program, the provincial government provided $1.3 million to reduce the debt of 399 students who successfully completed their programs of study. Another $703,000 was provided to 1,172 Island students through the Island Student Award program which provides a $600 bursary to all Island students in their final two years of study at UPEI, Holland College and la Société éducative.

For more information on Prince Edward Island student financial assistance programs contact www.studentloan.pe.ca