Students in Canada who are concerned about rising costs can make the most of a grant and loan increase to make education more affordable.
As post-secondary students in Canada feel the pinch with higher living costs and tuition, the federal government said it&#8217;s extending the temporary increase for student grant and loan programs. On Monday, Patty Hajdu, minister of jobs and families, announced that the same increased rates will continue to apply in the 2026-27 academic year. The increase was first <a href="https://www.newswire.ca/news-releases/government-of-canada-extends-financial-supports-for-post-secondary-students-846700130.html" target="_blank">introduced in the 2023-24 school year</a>.
&#8220;We are focused on lowering costs for Canadians, and supporting students as they pursue post-secondary education remains central to this,&#8221; she said in a <a href="https://www.newswire.ca/news-releases/government-of-canada-extends-financial-supports-for-post-secondary-students-846700130.html" target="_blank">statement</a>.
&#8220;That&#8217;s why we are ensuring students have the financial supports and resources they need to succeed, build meaningful careers, and contribute to a strong and resilient workforce.&#8221;
Once again, students can apply for grants, which have been increased by 40 per cent. To be eligible, you must be a full-time or part-time student, including those with disabilities and dependents.
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Grants don&#8217;t need to be repaid, and students may qualify for more than one type. The amount you receive <a href="https://www.canada.ca/en/services/benefits/education/student-aid/grants-loans.html" target="_blank">depends on factors</a> like where you live, your family income, whether you have dependents or a disability, and your tuition and living costs. The 40 per cent increase is a significant boost, with 571,000 Canadians expected to benefit from it.
For students applying for the Canada Student Loan, the increase will kick in again in the upcoming academic year, with students eligible to receive $300 per week of study, the same $90 increase from $210 from last year.
Students do have to repay their student loans; however, the increased limit for interest-free loans is expected to help around 422,000 students.
In addition, you could be eligible for the <a href="https://www.canada.ca/en/services/benefits/education/student-aid/grants-loans/repay/assistance/student-loan-forgiveness.html" target="_blank">Canada Student Loan Forgiveness</a> if you&#8217;re a doctor, nurse, early childhood educator, dentist, dental hygienist, pharmacist, midwife, teacher, social worker, personal support worker, physiotherapist, or psychologist.
The federal government is investing nearly $1.2 billion in financial aid so that post-secondary education remains accessible to students.
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If you're a student in Canada concerned about rising costs, you can make the most of a grant and loan increase for the 2026-27 academic year.