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This can be found on line 150 of each of the student's and the spouse/common law partner’s previous year's T1 General Income Tax Form. Independent students and single parents: The gross annual income consists of the student's total annual earnings before tax. This can be found on line 150 of the student’s previous year’s General Income ...
- Please read our latest notices
- How the funding works
- How much you can get
- List of federal student grants
- Maximum lifetime limit for student aid
- Registered Education Savings Plan
•Budget 2023: Important announcements for student aid
•What student grants and loans offer
•Apply with your province or territory
•Loan agreement
The Canada Student Financial Assistance Program offers grants and loans to full-time and part-time students to help pay for their post-secondary education.
•Apply with 1 application, through your province or territory of residence
The Government of Canada works with most provincial or territorial governments to offer student grants and loans. In all situations, you apply with your province or territory of residence. The amount you can receive is calculated when you apply.
More detail on how the funding works
“British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Ontario, and Saskatchewan
The Government of Canada and the provincial governments work together to provide integrated student grants and loans.
Alberta, Nova Scotia and Prince Edward Island
Canada Student Grants and Loans are available alongside provincial or territorial student aid.
The amount you can receive depends on many factors, including:
•your province or territory of residence
•your family income
•if you have dependents
•your tuition fees and living expenses
•if you have a disability
Your eligibility for Canada Student Grants is calculated when you apply with your province or territory.
•Grant for full-time students
•Grant for part-time students
•Grant for full-time students with dependants
•Grant for part-time students with dependants
•Grant for students with disabilities
There are lifetime limits on the number of weeks you can receive student aid. This includes any payment-free or interest-free periods while you are in school. You also have to start paying back your loan 6 months after you graduate or finish your studies.
Full-time students can receive student aid for a maximum of 340 weeks, except:
•students enrolled in doctoral studies can receive student aid for up to 400 weeks
•students with a disability may receive up to 520 weeks of educational assistance
In addition to grants and loans you can use funds from your Registered Education Savings Plan (RESP) to help pay for your studies.
A variable rate is lower but fluctuates depending on Canada’s prime rate. Canada’s prime rate is currently 2.45% and is likely to stay low for the near future, but your loan’s repayment ...
- Author
2022-04-21. This statistical review provides data for the loan year from August 1, 2018 to July 31, 2019, with the exception of a few tables which provide data for the fiscal year from April 1, 2018 to March 31, 2019. This review provides tables on grants, loans, repayment assistance and other program statistics.
Sep 10, 2024 · In 2020, when students faced challenges finding work and affording school, the government temporarily doubled Canada Student Grants to provide $6,000 each year for three school years. Since April 1, 2023, interest charges have been permanently eliminated on all Canada Student Loans and Canada Apprentice Loans, saving the average student loan borrower an average of $610 every year on interest ...
You can apply for school loans from the Canada Student Loan Program (CSLP) or grants from the Canada Student Grants Program (CSGP). Visit www.canlearn.ca to learn more and see how you can apply. Canada Student Loan Program: Whether you're a full- or part-time student, you can apply for a loan through this program. If your application meets the ...
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Canada Student Loans Persistent or Prolonged Disability. Effective August 1, 2022, the Government of Canada is expanding access to disability supports to students and borrowers with a persistent or prolonged disability. For more information and/or to see if you are eligible for persistent or prolonged disability benefits, visit Canada.ca.
