GATINEAU, QC, March 23, 2026 /CNW/ - Post-secondary education is one of Canada's most important long-term investments. Ensuring that Canadians can gain the skills and qualifications they need to get good jobs, in high-demand sectors, is key to creating a more competitive workforce.
Today, the Honourable Patty Hajdu, Minister of Jobs and Families and Minister responsible for the Federal Economic Development Agency for Northern Ontario reaffirmed the government's commitment to affordability and lowering costs for Canadians by extending temporary increases to the Canada Student Financial Assistance grants and loans for the 2026-27 academic year.
Maintaining the 40% increase to grants for full-time students, part-time students, students with disabilities and students with dependants, and the Canada Student Loan limit increase from $210 to $300 per week of study will continue to help make post-secondary education affordable for students.
During the 2026-2027 academic year, approximately 571,000 Canadian students are expected to benefit from the 40% increase to non-repayable grants. Additionally, 422,000 students could benefit from the weekly loan limit increase, which provides students interest-free loans from the Government of Canada.
Through these measures, the Government of Canada is investing close to $1.2 billion in financial aid to keep post-secondary education accessible and help students make high-quality investments in their development and success.
Quotes
"We are focused on lowering costs for Canadians, and supporting students as they pursue post-secondary education remains central to this. That's why we are ensuring students have the financial supports and resources they need to succeed, build meaningful careers, and contribute to a strong and resilient workforce."
– The Honourable Patty Hajdu, Canada's Minister of Jobs and Families and Minister responsible for the Federal Economic Development Agency for Northern Ontario
"As young people in government, we've heard from students across the country who want to learn, build their skills, and contribute to Canada's future. Strengthened student grant and loan supports play an important role in helping them pursue their goals, develop their talents, and stay focused on their education. Ensuring that students have access to the resources they need supports not only their success, but also a strong and resilient workforce at a moment when their contributions matter more than ever."
– Fares Al Soud, Member of Parliament for Mississauga Centre; Amandeep Sodhi, Member of Parliament for Brampton Centre; and Jake Sawatzky, Member of Parliament for New Westminster--Burnaby--Maillardville
"Today's announcement reflects continued federal recognition that Canada's future depends on investing in the skills development of its students. This temporary extension of student assistance levels is a meaningful step forward and reflects the advocacy of the Canadian Alliance of Student Associations and students nationwide."
– Abdul Abbasi, Chair of the Canadian Alliance of Student Associations
Quick facts
- The Canada Student Financial Assistance Program provides Canada Student Grants and Canada Student Loans to help students pay for their post-secondary education.
- Post-secondary student financial aid in Canada is a joint federal-provincial/territorial system providing loans and non-repayable grants based on assessed financial need. Through a single application, students can access federal funding and provincial funding.
- The Canada Student Financial Assistance Program works in partnership with nine provinces and the Yukon to deliver student financial assistance. Quebec, the Northwest Territories and Nunavut receive alternative payments from the Government of Canada to administer their own student financial assistance programs.
- The Government of Canada works closely with participating provinces and territories to provide student financial assistance to post-secondary students, with the Government of Canada covering up to 60% of a student's need and provinces and territories expected to cover the rest. Provinces determine how best to meet their portion of a student's need.
- The temporary increase to non-repayable Canada Student Grants and increase to the weekly Canada Student Loan limit were introduced in the 2023-24 school year and extended in 2024-25 and again in 2025-26.
- The Canada Student Loan Forgiveness benefit is now available for doctors, nurses, early childhood educators, dentists, dental hygienists, pharmacists, midwives, teachers, social workers, personal support workers, physiotherapists, and psychologists.
- Through other programs and initiatives such as: the Supports for Student Learning Program, Youth Employment and Skills Strategy and the Canadian Apprenticeship Strategy, additional supports are available for eligible post-secondary students.
Associated links
- Canada Student Financial Assistance Program
- Canada Student Grants and Loans
- Apply for Canada Student Loan forgiveness
- Youth Employment and Skills Strategy
SOURCE Employment and Social Development Canada
Contacts: For media enquiries, please contact: Jennifer Kozelj, Senior Communications Advisor and Press Secretary, Office of the Minister of Jobs and Families and Minister responsible for the Federal Economic Development Agency for Northern Ontario, [email protected]; Media Relations Office, Employment and Social Development Canada, 819-994-5559, [email protected]
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