Post-secondary graduates in Saskatchewan have a new financial incentive to build their careers in the province, thanks to an increase in the Graduate Retention Program (GRP).
The Saskatchewan government has raised the lifetime maximum for the tax credit by 20%, now offering up to $24,000 for students graduating on or after October 1, 2024.
The GRP provides tuition rebates to graduates who remain in Saskatchewan and file taxes in the province after completing their post-secondary education.
These tax credits are distributed over seven years, and recipients have up to a decade to claim their full benefits.
"The Graduate Retention Program has been supporting post-secondary graduates for over a decade, and we are proud to increase this incentive," said Advanced Education Minister Ken Cheveldayoff.
"Post-secondary graduates play a pivotal role in supporting Saskatchewan's Growth Plan and Labour Market Strategy. We encourage them to take advantage of this tax credit and build their lives here in Saskatchewan."
Eligible graduates will see the increased tax credit when they file their 2025 taxes in spring 2026.
University of Saskatchewan student Arliss Sidloski, who is preparing to graduate from the College of Engineering, welcomed the boost to the program.
"Growing up in Saskatchewan has been a privilege, and as I prepare to graduate, I am excited about the many opportunities available to my peers and me," said Sidloski.
"The 20% increase to the Saskatchewan Graduate Retention Program is a fantastic incentive for graduates to build their careers and families here. I encourage my fellow graduates to take advantage of this program and contribute to strengthening Saskatchewan’s workforce and economy."
Graduates before October 1, 2024, remain eligible for the previous maximum of $20,000 in tax credits. Those graduating between October 1 and December 31, 2024, should claim GRP at the original rate on their 2024 taxes but will receive a top-up certificate to apply for the increased amount in their 2025 tax return.
Saskatchewan's GRP is the most generous graduate retention program in Canada. Since its inception in 2008, the initiative has provided over $801 million in tuition tax credits to more than 85,200 graduates.
The program not only supports young professionals but also benefits Saskatchewan employers by encouraging both local and out-of-province graduates to establish careers in the province.