Thousands of students will get their student loans reduced due to provincial funding.
The province will provide $10.5 million through the Manitoba bursary loan remission program, it was announced recently.
"Like all parents, I know the difference that a university or college education can make for kids," said Advanced Education and Literacy Minister and Southdale MLA Erin Selby in a news release.
"That’s why we’ve worked to expand grants, scholarships and bursaries to put a good education in the reach of every young person. Today, we’re building on our progress by helping 3,700 more students by reducing their student loans," she added.
Officials say the bursary is an annual loan remission program. Awards are applied against the students’ outstanding Manitoba student loan balances, which help reduce the student debt of those who qualify, Selby said. This year, eligible students will receive, on average, a $2,830 reduction in their student loans.