Government Financial Aid
To help students fund their studies in the 2022-23 academic year (specifically, all study period start dates prior to August 1, 2023), the Government of Canada has temporarily doubled Canada Student Grants for full-time students to up to $6,000 and up to $3,600 for part-time students. The Canada Student Grants for Students with Permanent Disabilities and Students with Dependents are also doubled.
For further details, see StudentAid BC or your home province.
In Canada, student financial assistance is available from the federal and provincial/territorial governments. Your application would be made through the province in which you are considered a resident.
There are two main forms of government assistance available: loans and grants. Student loans must be paid back but in most cases the grants do not need to be repaid.
Benefits of government student assistance
- No interest while you are a full-time student, and for federal loans and some provinces including BC, no interest is charged during repayment either!
- No payments required while you are a full-time student
- No co-signer or collateral required
- A portion of your loan may be forgiven
- Applying for a provincial loan initiates the process by which your eligibility is evaluated for grants
- An interest relief safety net is available if you encounter financial hardship during repayment.
National Student Loans Service Centre
@NSLSC (National Student Loans Service Centre) on Twitter