Student Loan Financing with RBC Royal Bank Extended

Nova Scotia's student loan program will continue in conjunction with RBC Royal Bank until July 31, 2003.

The current agreement calls for the bank to finance student loans sponsored by the provincial government. It was to expire on Wednesday, July 31. With the one-year extension, there will be no change in delivery of the Nova Scotia Student Loan program during the upcoming academic year.

"We will continue to provide financial support to eligible post- secondary students in Nova Scotia," said Education Minister Jane Purves. "Our agreement with Royal Bank is the best of the options available to us right now, and we're pleased that the agreement is continuing for another year."

The department will continue to explore options for financing the student loan program after the latest extension expires. The department is also working on a new student debt-relief program.