Canada Student Loans – COVID-19

From: Employment and Social Development Canada

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The Government of Canada has made the following changes to student grants and loans in response to COVID-19. These changes will make it easier for students to access and afford post-secondary education.

Temporary removal of interest on Canada Student Loans and Canada Apprentice Loans

As of April 1, 2021, no interest will be charged on Canada Student Loans and Canada Apprentice Loans. This measure is temporary. For more information, please see the proposed changes in this year’s budget announcement.

Provincial interest rates may still apply. Contact the NSLSC or your province or territory to find out more.

Doubling of Canada Student Grant amounts

For the 2020 to 2021 school year, the maximum amount of Canada Student Grants has doubled. The Canada Student Grant for Full-Time Students has increased up to a maximum of $6,000 and the grant for part-time studies to $3,600. The Canada Student Grants for Students with Permanent Disabilities and Students with Dependants have also doubled.

Find out more on the Canada Student Grants and Loans page.

Exemption from student and spousal contribution

For the 2020 to 2021 school year, fixed student contributions and spousal contributions, are not used in your assessment for a student loan.

This helps more students qualify for more financial support.

Increasing the cap on Canada Student Loans

For the 2020 to 2021 school year, the weekly maximum loan limit has increased from $210 to $350.

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