OTTAWA, ONTARIO, June 22, 2009—The Honourable Diane Finley, Minister of Human Resources and Skills Development, met today with the members of the National Advisory Group on Student Financial Assistance to discuss the new federal student financial assistance measures available in August 2009.
“The Government of Canada has taken action to ensure that Canadian students and their families have access to simple, effective financial assistance for higher education,” said Minister Finley. “Post-secondary education has never been more important than it is today. These measures will provide valuable assistance to students and their families by making post-secondary education more affordable and accessible.”
Budget 2008 introduced:
- a new Canada Student Grants Program and a Repayment Assistance Plan that will replace existing programs to address priority needs of Canadian students and their families;
- more support for students with disabilities to pursue post-secondary education; and,
- new measures that reduce the contribution amount that is required for students with spouses.
These new measures provide more upfront and non-repayable money through the Canada Student Grants Program for people who are entering into post-secondary studies, and more assistance to those who have completed their studies who may face difficulty in repaying their loans through the Repayment Assistance Plan.
The Canada Student Loans Program aims to increase post-secondary education participation and completion rates so that Canadians have the opportunity to develop the knowledge and skills needed to participate in the economy and society. In the first year, the new grant program is expected to reach 245,000 college and undergraduate students, an increase of over 100,000 students currently receiving debt remission and grants.
The Government of Canada is continuing to work with the provinces and territories, and stakeholders to implement the new student financial assistance measures.
For more information, please visit CanLearn.ca. This Web site helps Canadian students plan and pay for their post-secondary education, and offers new interactive tools such as the Student Financial Assistance Estimator and the Repayment Assistance Estimator.
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This news release is available in alternative formats upon request.
For further information (media only):
Michelle Bakos
Press Secretary
Office of Minister Finley
819-994-2482
Media Relations Office
Human Resources and Skills Development Canada
819-994-5559
