That support, which was introduced during the COVID-19 pandemic and extended with the 2022 federal budget, will come to end on July 31, 2023. Previously, the government had doubled student grants, meaning full-time students could get up to $6,000 a year with the Canada Student Grants program. Students with disabilities and dependants would also get an increase in Canada Student Grants, the federal government said in the budget. The federal government has also shared plans to raise the interest-free Canada Student Loan limit from $210 to $300 per week of study and waive the requirement for students who are 22 years or older to undergo credit screening to qualify for federal student grants or loans for the first time.Īccording to the 2023 budget, these changes to financial assistance for education would allow post-secondary students to get up to $14,400 in enhanced student financial assistance during the upcoming school year. If the increase is approved, full-time students will be able to get up to $4,200 for the school year to help pay for their expenses. That includes increasing the amount of money that you can get with Canada Student Grants by 40%. So, it was proposed in the budget that the federal government will enhance student financial assistance to make life more affordable for the academic school year starting on August 1, 2023. In the federal budget for 2023 that was released on March 28, the government said that it knows "the higher cost of living still means that students still need support to afford an education" right now. The federal government is planning on making changes to Canada Student Grants, which would give students more money to pay for their education.
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