Released on April 23, 2008
Advanced Education, Employment and Labour Minister Rob Norris has introduced legislation for the most aggressive youth retention plan in Canada, a plan that was promised in the election platform. The Graduate Retention Program will provide a refundable income tax credit to rebate up to $20,000 of tuition fees paid by eligible graduates. This will keep more young people in Saskatchewan to build their futures and their careers in our province.
"These tuition rebates will alleviate some of the concerns that students have over the cost of post-secondary education," Norris said. "We estimate that approximately 9,000 graduates per year will receive a Graduate Retention Program Certificate. That is an incentive to stay and work in Saskatchewan. This program will encourage enrolment in Saskatchewan's post-secondary institutions and will help to retain the workers needed to grow our economy and encourage enrolment in Saskatchewan's post-secondary institutions."
The rebate is available to qualified graduates who remain in the province after graduation. The graduate will receive 10 per cent of the maximum for the year of graduation and the subsequent three years and then 20 per cent of the maximum rebate the next three years. The maximums are as follows:
- $3,000 for graduates of one-year certificate and diploma programs and journeypersons;
- $6,400 for graduates of two-year certificate and diploma programs;
- $15,000 for graduates of three-year undergraduate university programs; and
- $20,000 for graduates of four-year undergraduate university programs.
The Graduate Retention Program will be retroactive to January 1, 2008.
For more information visit http://www.aeel.gov.sk.ca/grp.
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For more information, contact:
Terry White
Advanced Education, Employment and Labour
Regina
Phone: 306-787-7791
Email: Terry.White@gov.sk.ca