P.E.I. student loans forgiven for those who develop severe disability
Policy intended to allow people with disabilities 'to focus their energies elsewhere'
The provincial student loans of borrowers who develop a severe disability will be forgiven, the P.E.I. government announced Friday.
"We hope this policy will relieve some of the financial stress on students and former students at a difficult time in their lives," said Advanced Learning Minister Richard Brown in a news release.
"This new policy will lift the debt load from people whose disabilities prevent them from earning an income, and allow them to focus their energies elsewhere."
The new measures have been adopted under the provincial student financial assistance program and are effective immediately.
P.E.I. Student Financial Services will forgive the provincial student loans of those who have qualified for the severe permanent disability benefit under the Canada Student Loan Program.
Up until now, the provincial student loans of people with severe permanent disabilities were eligible for forgiveness, but required a ministerial order.