It was a case of 'the hand being quicker than the eye'.
Yes, even while their BC award, bursary and loan repayment aid programs were still posted on government websites, some students and grads who applied this year were shocked to receive letters stating that their program was gone.
There seemed no hint that student aid cuts were coming.
As of August 1, 2009, Newfoundland and Labrador will strengthen its student-friendly reputation by removing interest charges from provincial student loans.
Media reports on the story seemed to overlook this point: Before the government made this change, the Newfoundlanders and Labradorians Against Student Debt (NLASD) had run an online campaign to end interest charges, which included a petition.
Most of the media advice about keeping your student debt low just repeats the same old cliches. Media "guest experts" who string these cliches together must assume that everything is the same today as it was back when they were still in school.
Here's the biggest cliche out there: "Save money: Work your way through school by only taking classes part-time."
A Debt 101 peek behind the economic curtain here...
US-based Citigroup was North America's biggest banking empire before the Crash last fall. Since then, it's been typically referred to in business circles as a "zombie bank." (Ask me how I know: I had to sell my Citigroup stock...)