Newfoundland and Labrador's New Democrats say needy post-secondary students should be offered grants, not loans.

Lorraine Michael unveiled a new policy aimed at college and university students on Monday. (CBC)

NDP Leader Lorraine Michael unveiled Monday the latest part of her party's platform — support for needs-based, non-repayable grants — in a campaign-style event at Memorial University's Student Centre.

"I'm delighted to be able to let students in this province know, that no matter where they go to school in this province, as post secondary students, [they] do not think that they should have to carry debt loads," said Michael, adding that there are still post-secondary students who cannot afford to get an education.

The NDP plan will cost $18.9 million. If elected, the NDP will phase in the program, with $4.7 million in grants to be distributed in the first year.

The grants would eventually replace the loan system and cover all 8,000 post secondary students in the province who receive student loans.

Michael said her party used figures from the Canadian Federation of Students for their calculations.

She also recommitted to a goal of bringing in free tuition to the province.

Monday's announcement marked the third policy announcement that Michael has made within the last two weeks, leading up to the Oct. 11 election.

The NDP has also promised all-day Kindergarten and a tax cut for small businesses in their platform, which has yet to be fully released.