Yellowknife (Apr 26/06) - Aboriginal leaders have officially signed off on a $1.9 billion settlement package for former residential school students.

The deal, which has been in the works for several years, still needs final approval from the federal cabinet and several lawyers before former students can access the money.

The settlement includes a $10,000 lump sum payment for each student plus $3,000 for each year they attended the schools. The institutions, which existed across Canada, were renowned for their brutal treatment of students.

There are 6,000-8,000 former students living in the Northwest Territories, according to estimates from the Assembly of First Nations - the group that signed off on the settlement, Monday.