Summary of the Evaluation of the Canada Student Loans Program

From: Employment and Social Development Canada

On this page

• About the program
• Key findings
• Recommendations

About the program

The Canada Student Loans Program provides financial assistance to students to help them access and afford post-secondary education. In 2018 to 2019, the program provided $5.2 billion in student loans and grants to close to 700,000 students.

Key findings

The findings outlined the importance of the Program in facilitating access to post-secondary education and helping students persist during their studies and graduate.

• Without the federal portion of their student loans and grants:
• many (41%) program participants indicated that they would have delayed their studies, while some (13%) indicated they would not have pursued any post-secondary studies
• many (39%) indicated they would not have enrolled in the same program
• Most (83%) program participants completed a post-secondary program
• Among borrowers who completed their program, many (36%) indicated that they would not have persisted during their studies and graduated, without the federal portion of their student loans and grants
• Half of those who dropped out of their program before completion did so for financial reasons. They indicated they would have continued their studies with a larger student loan
• Program participants had limited understanding of how their student loans and grants were determined and of the different features of the Program

Recommendations

• Examine student financial need with a view to identify funding gaps faced by students
• Further enhance awareness and understanding of the program among Canada Student Grant and Loan recipients