Federal Science Minister Kirsty Duncan was out at Humber College in Toronto today touting an increase in the grants program that amounts to $1.5 billion over five years, with $684 million budgeted for this year and next.
The increase in spending means a 50 per cent increase in grants: up to $3,000 for low-income students, and up to $1,200 a year for middle-income students.
Students with outstanding federal loans are going to have to wait until November for changes to the repayment assistance plan to kick in and eliminate payments for anyone earning under $25,000 a year.
Student groups had hoped for the federal government to set that income bar at $35,000, but were disappointed to see the lower figure in the first Liberal budget.
The government has yet to announce details of its promise to ease eligibility criteria for student grants and loans by making it easier for students to work without fearing that the extra cash will mean roll backs in their financial aid.
The federal budget said the promise would be implemented in time for next school year, and would cost $267.7 million over four years starting in 2017. – CINEWS