July 13, 2022
Manitoba Government Implements Regulatory Changes to Streamline Student Loan Processes, Launches Project
– – –Changes Make Student Loans Easier to Manage, Enhances Access to Student Loans for Students with Disabilities: Reyes
The Manitoba government is implementing regulatory changes to the Student Aid Regulation to ensure more responsive services for students, Advanced Education, Skills and Immigration Minister Jon Reyes announced today.
“Integrating the provincial and federal loan programs will help streamline and simplify the administration of student loans, improving services for more than 47,000 borrowers,” said Reyes. “These changes will make it easier for students to manage their student loans as they access the education and training opportunities needed to build their careers and support Manitoba’s economic growth.”
The amendments harmonize provisions of the Student Aid Regulation with the requirements of the Canada Student Financial Assistance Program. The minister noted these regulation changes allow Manitoba Student Aid to implement the first phase of its loan integration project.
During the first phase of the implementation, new borrowers will only have one student loan. Existing borrowers will still have two loans and two repayments until April 2023, when the second phase of the project will be implemented.
Once fully implemented, borrowers will make only one monthly repayment and only need to interact with the National Student Loans Service Centre to get information about how to manage their student loan(s), such as applying for the Repayment Assistance Plan.
“These changes will also help reduce red tape and the administrative burdens when the provincial and federal student loan programs are operated separately,” said Reyes. “The simplified administration, management and repayment system for student loans will benefit thousands of people every year. Borrowers will be able to manage their loans more easily using a significantly enhanced online account portal, with expanded self-service options.”
The regulation has also been updated to:
- enhance disability provisions for students and borrowers;
- remove outdated clauses;
- eliminate the restriction limiting funding to one diploma, one certificate or one degree; and
- ensure equitable treatment for students with permanent disabilities enrolled at private vocational institutions.
The Manitoba government supports post-secondary students by ensuring programs and financial supports are available to help students pursue educational pathways, develop the skills needed to participate fully in the community and contribute to a growing economy, said Reyes.
For more information, visit www.manitoba.ca/aesi/sas.html.
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