N.W.T. gov't increases amount students can borrow for post-secondary

Post-secondary students in the N.W.T. can now borrow up to $90,000 to complete their studies.

The N.W.T. Department of Education, Culture and Employment announced Monday it has increased the loan limit for student financial assistance, which was previously set at $60,000.

"This increase is intended to provide greater support and assistance for students accessing loans to complete their post-secondary studies," the department wrote in a news release.

The news comes two months after the department cut an incentive that forgave part of students' loans if they returned to the N.W.T. That move drew criticism from some MLAs, but was defended by Education Minister Caitlin Cleveland.

Monday's news release encouraged students to apply to expand their loan limit if they are close to the original $60,000 limit or if they were previously denied funding this year because they had already reached the limit.

In future years, the new loan limit will be applied to all applications for student financial assistance without students having to apply for the expansion.