Just in time for the 2021-22 school year!
The federal government is doubling the amount of money you get with Canada Student Grants and there's a date for when getting extra cash will start.
In 2020, the government increased how much money students got from the program for a year and in the federal budget from April 2021, it was announced that there were plans to extend that. According to a recent press release, the doubling of Canada Student Grants will be extended for two more years as of August 1, 2021.
The maximum amount available with the grants will be up to $6,000 for full-time students and $10,000 for students with disabilities until July 31, 2023.
The government is also permanently allowing students to use their current year's income when applying for federal grants so that if students are in need at the moment, their previous work won't count against them.
It was also announced that the freeze on student loan interest has been extended to March 31, 2023.
Previously, NDP Leader Jagmeet Singh took the government's plan a step further by saying that he wants to cancel up to $20,000 of federal student loan debt per student, permanently remove interest on all federal student loans, give new graduates a five-year grace period without having to make federal student loan repayments and work towards making tuition free for everyone in Canada.