Back-to-school time is just around the corner for many post-secondary students. But this year, some Canadian students will be receiving even more money. The best part is that they don’t have to pay it back. It’s basically free money.
Recent changes to the federal grants program will help put more money into the pockets of students from low- and mid-income families. Full-time students from low-income families can now receive up to $3,000 in post-secondary education (PSE) grants. That’s a 50% increase over the previous $2,000 limit. The student grant limit also rises 50% for part-time students from low-income households from $1,200 to $1,800.
If you’re a student from a mid-income family, the grant has increased from $800.00 to $1,200. The changes came into effect on August 1, 2016—just in time for the 2016/2017 academic year.
Students entering a post-secondary school this fall are automatically assessed for the Canada Student Grant when they apply for student loans through their provinces.
What You Need to Know about Canada Student Grants
In addition to the increase in Canada Student Grants this fall, there are a number of other things students entering a post-secondary school need to understand when it comes to Canada’s federal grant program
Different Types of Canada Student Grants
Those who qualify for a Canada Student Loan are automatically assessed whether or not they meet the requirements for most Canada Student Grants. Students can qualify for more than one grant.
Currently, there are seven different Canada Student Grants available:
- Grant for Students from Low-Income Families
- Grant for Students for Mid-Income Families
- Grant for Full-Time Students with Dependants
- Grants for Part-Time Studies
- Grant for Part-Time Studies with Dependants
- Grant for Students with Permanent Disabilities and/or Services and Equipment for Students with Permanent Disabilities
There are different criteria for eligibility for each of the different types of Canada Student Grants.
Low-Income2 or Mid-Income3 Family (as Defined by the Canada Student Loans Program)
You are eligible for a grant if you apply and qualify for student financial assistance and are enrolled in a full-time undergraduate degree, diploma, or certificate program that is at least two years, or 60 weeks, long at a designated post-secondary institution.
Full-Time Students with Dependant
This is available to low-income students enrolled at a designated post-secondary school in a program that is at least 12 weeks long and has a dependant who is under the age of 12 when classes begin or is 12 years or older with a permanent disability.4
This Canada Student Loan Grant is available to low-income students registered in a part-time program (at least 12 weeks long) at an eligible post-secondary school. You must apply and qualify for part-time student financial assistance and have successfully completed all of the courses for which you previously received a grant.5
Part-time Students with Dependants
This grant is available to low-income students with dependents that are enrolled in a part-time program at a designated post-secondary school that is at least 12 weeks long. You must have a dependant who is under the age of 12 when the program starts or have a dependant who is 12 years of age or older with a permanent disability. You need to apply and qualify for part-time student financial assistance and the province or territory where you most recently lived for at least 12 months in a row confirms that you are in financial need.6
Students with Permanent Disabilities
This sort of grant is available for each year of your studies if you are enrolled in a full-time or part-time program at an eligible post-secondary school and meet the criteria for students with permanent disabilities. You will also need to include one of the following with your loan application to prove you are disabled: medical certificate, psycho-educational assessment, or documents to prove you have received provincial or federal permanent disability assistance.7 Students with permanent disabilities who need exceptional education-related services or equipment may also apply for a grant as long as they provide written confirmation that you are in need of exceptional education-related services or equipment, and provide written confirmation of the exact cost of the equipment or services.8
How Much Can You Receive?
The amount you can receive will depend on which Canada Student Grant you qualify for.
Students from Low-Income Families
If you are a student from a low-income family, you could receive $375.00 per month for each year of your undergraduate studies.
Students from Mid-Income Families
You could receive a grant that pays you $150.00 per month for each year of undergraduate studies.
Grants for Part-Time Students
The maximum you can receive from a Canada Student Grant for part-time studies is $1,800 per school year (August 1 to July 31). The amount of the grant for part-time students will not exceed your assessed needs.
Grant for Part-Time Studies with Dependants
This grant is in addition to any grant you receive under the Canada Student Grant for Part-Time Studies. You could receive a maximum of $40.00 per week of study if you have one or two dependants, up to $60.00 per week of study if you have three or more dependents, or, up to a maximum of $1,920 per year.
Grant for Students with Permanent Disabilities
Through this grant, you could receive $2,000 for each school year of your undergraduate or graduate level studies. Through the Grant for Services and Equipment for Students with Permanent Disabilities, students can also receive up to $8,000 for each school year for undergraduate and graduate level studies.
How to Apply for Your Canada Student Grant
How do you apply for your Canada Student Grant? You don’t! If you are student from a low-income or mid-income family, a full-time student with dependants, a part-time student, or a part-time student with dependents, you are automatically eligible for a Canada Student Grant when you apply and qualify for student financial assistance through the province or territory where you live.
Those applying for the Canada Student Grant for Students with Permanent Disabilities or Canada Student Grant for Services and Equipment for Students with Permanent Disabilities, you need to contact your province or territory student financial assistance office.
Global RESP Corporation, Helping Canadians Maximize Canada Government Grants
Changes to the Canada Student Grants make it more feasible for students from low- and mid-income families to attain a PSE. As a recognized leader and provider of RESPs in Canada, GRESP is one of the few companies that administer all provincial and federal grants to ensure our clients take advantage of all Canada Government Grants.
GRESP is one of the fastest-growing companies in the RESP industry with offices in British Columbia, Alberta, Ontario, and Quebec, and hundreds of independent representatives across the country.
Our experienced Dealing Representatives are dedicated professionals will provide you with the best advice and help you choose a RESP option that fits your long-term educational funding needs.
If you’re interested in finding out more about Canada Student Grants or getting started with a RESP Plan, find a GRESP representative in your area. Or fill out a form and a Global Representative will contact you.
1. Freeman, J., “Student federal grants get bumped up starting August 1,” CBC, August 1, 2016; http://www.cbc.ca/news/canada/kitchener-waterloo/federal-student-grants-increased-aug-1-1.3700762.
2. “Canada Student Grant for Students from Low-Income Families,” Government of Canada, July 28, 2016;http://www.esdc.gc.ca/en/student_grants/csg/low_income.page.
3. “Canada Student Grant for Students from Middle-Income Families,” Government of Canada, July 29, 2016; http://www.esdc.gc.ca/en/student_grants/csg/middle_income.page.
4. “Canada Student Grant for Full-Time Students with Dependants,” Government of Canada, July 28, 2016; http://www.esdc.gc.ca/en/student_grants/csg/dependants.page.
5. “Canada Student Grants for Part-Time Studies,” Government of Canada, July 28, 2016; http://www.esdc.gc.ca/en/student_grants/csg/part_time.page.
6. “Canada Student Grant for Part-Time Students with Dependants,” Government of Canada, July 28, 2016; http://www.esdc.gc.ca/en/student_grants/csg/part_time_dependants.page.
7. “Canada Student Grant for Students with Permanent Disabilities,” Government of Canada, January 1, 2016; http://www.esdc.gc.ca/en/student_grants/csg/disabilities.page.
8. “Canada Student Grant for Services and Equipment for Students with Permanent Disabilities,” Government of Canada, January 1, 2016; http://www.esdc.gc.ca/en/student_grants/csg/disabilities_service_equipement.page.