GATINEAU, QC,
Feb. 3
/CNW Telbec/ - The Government of
Canada
has transferred
$125,804,150
to the Government of
Quebec
in support of its student financial assistance programs for the 2008-2009 school year. The Honourable
Christian Paradis
, Minister of Natural Resources, made the announcement today on behalf of the Honourable
Diane Finley
, Minister of Human Resources and Skills Development.
"The Government of
Canada
recognizes the importance of post-secondary education and will continue to support students in
Quebec
," said Minister Paradis.
In 1964,
Quebec
chose not to participate in the
Canada
Student Loans Program (CSLP). Instead, the Province receives every year alternative payments from the Government of
Canada
, in support of its own student financial assistance programs. Since 1964,
Quebec
has received a total of almost
$3 billion
in alternative payments.
On
August 1, 2009
, the Government of
Canada
introduced the
Canada
Student Grants Program so that students have less student debt, and are better able to afford their post-secondary studies. These grants provide students from low- and middle-income families up to
$3,000
and
$1,200
respectively per academic year for all years of undergraduate study. In
January 2011
, as part of its annual alternative payment for the 2009-2010 school year,
Quebec
will receive approximately
$115 million
to compensate for the new
Canada
Student Grants Program.
This payment provides more money in support of
Quebec
student financial assistance programs as it surpasses the previous annual payment of
$80 million
under the
Canada
Millennium Scholarship Foundation, which was dissolved earlier this year.
The Northwest Territories and Nunavut have also opted out of the
Canada
Student Loans Program and receive annual alternative payments from the Government of
Canada
in support of their student financial assistance programs.
For more information about
Canada
Student Loans and Grants, visit www.CanLearn.ca.
This news release is available in alternative formats on request.
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backgrounder
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Canada
Student Loans Program
The
Canada
Student Loans Program has provided loans and grants to students across
Canada
since 1964. Nine provinces and one territory currently participate in the program.
Quebec
, the Northwest Territories and Nunavut operate their own student financial assistance programs and receive funding from the federal government through an alternative payment. In other jurisdictions, the
Canada
Student Loans Program is integrated with or offered alongside provincial and territorial student financial assistance programs.
Alternative Payments
Alternative payments normally occur six months after the end of the school year. Payments for the 2009-2010 school year will be made to
Quebec
in
January 2011
.
Each year, the Government of
Canada
pays an alternative payment to the governments of
Quebec
, the Northwest Territories and Nunavut and which they use to support their own student financial assistance programs. This compensation is based on the per-capita cost of running the federal program in participating jurisdictions. The per-capita cost is calculated using the 18- to 24-year-old population.
Canada
Student Grants Program
As of
August 1, 2009
,
Canada
Student Grants are available to help students and families manage the cost of post-secondary education. Under this program, 245,000 post-secondary students from the participating jurisdictions will receive approximately
$514 million
in grants each year.
Eligibility for most
Canada
Student Grants is automatically assessed when a student qualifies for a
Canada
Student Loan. More than 245,000 college and undergraduate students are expected to benefit from the new grants each year, an increase of over 100,000 students from previous grant programs.
Students may qualify for one or more of the
Canada
Student Grants, which include new grants for students from low- and middle-income families, part-time students, students with permanent disabilities, and students with dependants. Grants do not have to be paid back.
Quebec
students do not receive these grants directly because the Government of
Quebec
opted out of the
Canada
Student Loans Program and instead receives an alternate payment from the Government of
Canada
in lieu of direct grants to students.
Additional information about student financial assistance is available on www.CanLearn.ca.
For further information: 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
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