As of November 1, 2024, Student Financial Assistance loan limits have increased from a maximum of $60,000 to a maximum of $90,000. This increase is intended to provide greater support and assistance for students accessing loans to complete their post-secondary studies.

Students who are currently receiving Student Financial Assistance and are nearing the $60,000 loan limit, or who were denied funding in 2024-2025 due to meeting the $60,000 loan limit, are encouraged to submit a 2024-2025 Expanded Loan Limit Application so that they can be considered under the new $90,000 loan limit.

Going forward, all students who apply for Student Financial Assistance will be assessed under the new $90,000 loan limit. There have been no changes to repayment schedules at this time. Students with loans that exceed $55,000 must repay their loans within 14 years. Students with a permanent disability have 20 years to repay loans exceeding $56,500.

As per the Student Financial Assistance program Service Standards, funding will be processed within 10 business days of receiving all required documentation as part of the application process.

The Department of Education, Culture and Employment introduced a number of enhancements to the Student Financial Assistance program in the 2023-2024 academic year, and will continually review programs to ensure they are meeting the needs of residents.

Students or families with questions are encouraged to contact their Student Case Officer, who can be reached by email at nwtsfa@gov.nt.ca or by calling toll-free 1-800-661-0793.
 

For media requests, please contact:
Briony Grabke
Manager, Public Affairs and Communications
Education, Culture and Employment
Government of the Northwest Territories 
Briony_grabke@gov.nt.ca 

867-767-9352 ext. 71073