The Government of Canada has announced a new measure to help students and their families access and afford post-secondary education and training. The income eligibility thresholds for part-time student loans and grants have been increased so more Canadians can pursue post-secondary education while working. Dr. Kellie Leitch, Parliamentary Secretary to the Honourable Diane Finley, Minister of Human Resources and Skills Development, made the announcement last week at the University of Western Ontario.
“Our Government is delivering on our commitment to support part-time students by enabling more low- and middle-income Canadians to attend school while working,” said Minister Finley.
The Government of Canada will invest approximately $22.5 million over the next 10 years to increase accessibility for student financial assistance. It is projected that over 2,500 additional part-time students will be eligible for a Canada Student Loan in year one, rising to just under 8,000 in year five and ongoing. Nearly 500 additional part-time students will receive a Canada Student Grant in year one, rising to about 1,500 in year five and ongoing.
At the beginning of this year, Canada ’s Economic Action Plan eliminated in-study interest on part-time student loans so more Canadians can afford to balance work and school.
“Our Government’s top priorities are job creation, economic growth and long-term prosperity for Canadians,” said Dr. Leitch. “We recognize the important role post-secondary education and training plays in ensuring a strong, competitive and flexible workforce in the future.”
For more information on how to save, plan and pay for post-secondary education, visit CanLearn.ca .