Students heading to school this September are in luck because on Monday, August 1, 2016 the Canadian Student Federal Grants increased by 50%! For low and middle-income families, this is a fantastic change that can help make paying for a college or university education a little bit easier. Along with the changes in grant amounts, there will also be changes in to the Repayment Assistance options including the increase in access to interest-free loans, extended financial support for mature students, and more.
- Full-time students from low-income families will get $3000 (was $2000)
- Full-time students from middle-income families will get $1200 (was $800)
- Part-time students from low-income families will get $1800 (was $1200)
Click here to read more about this change via the Ministry of Finance.
Since post-secondary schools usually seek tuition payments by July, are students going to be able to get payment deferrals until that grant date if that grant money is how they’ll pay for tuition? I can foresee that in high-demand programs, a student able to pay by the July date stands a chance of confirming his/her spot in the program over another student that has to defer payment for two months.