Province Implements Regulatory Changes to Streamline Student Loan Processes, Launches Project

Advanced Education, Skills and Immigration Minister Jon Reyes recently announced that the Manitoba government is implementing regulatory changes to the Student Aid Regulations to ensure more responsive services for students.

“The integration of 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 will have access to the education and training opportunities needed to build their careers and support Manitoba’s economic growth.

The amendments align the provisions of the Student Aid Regulations with the requirements of the Canada Student Financial Assistance Program. The minister noted that these regulatory changes allow Manitoba Student Aid to implement the first phase of its loan integration project.

During the first phase of 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 only make one monthly repayment and only need to interact with the National Student Loans Service Center for information on how to manage their loan(s). student loan(s), such as the Repayment Assistance Plan application.

“These changes will also help reduce red tape and administrative burdens when provincial and federal student loan programs are administered separately,” Reyes said. “The simplified system for administering, managing and repaying student loans will benefit thousands of people every year. Borrowers will be able to manage their loans more easily using a significantly improved online account portal, with expanded self-service options. »

The regulations have also been updated to:

  • improving disability provisions for students and borrowers;
  • delete obsolete clauses;
  • eliminate the restriction limiting funding to a diploma, certificate or degree; and
  • ensure fair treatment of students with permanent disabilities enrolled in private vocational institutions.

“The Government of Manitoba supports post-secondary students by ensuring that programs and financial aid are available to help students continue their academic journey, acquire the skills necessary to fully participate in the community and contribute to a growing economy,” Reyes said.

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