British Columbia will help its students
The regional government will increase scholarships and grants.
For the first time since 2006, Canada has decided to reform its student aid system. Soon, the government will continue to lower tuition costs, and college and university students will be offered more flexible loan repayment terms. The province is trying to make colleges less expensive in the face of global inflation.
Now students can get twice as much per week — CAD 220 instead of CAD 110, and CAD 280 is for students with children. And if you add the federal government payments to that amount, the number could be as high as CAD 520 or CAD 740, respectively.
British Columbia wants to continue to patronize knowledge and create a society where everyone has access to a quality education. The Liberal Party recently announced that everyone who applies for financial aid can now also qualify for a CAD 4 000 scholarship.
The new measures should allow people to continue to learn and gain the knowledge they need to build their future careers. The province's StrongerBC plan aims to break down barriers of all kinds. It will help people to study a qualified specialty, get a good job, and settle in the region.
The new measures also affected student loan repayment terms. From August of this year, students with an income of CAD 40 000 or less per year will no longer have to pay back their student loans. The maximum repayment amount per month will be lowered from 20% to 10%, but this will already depend on family income.
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