The Canadian government has extended its financial assistance plan to help students achieve their academic goals. The extension will allow CAN $300 a week to support full-time post-graduate students.
The recent changes to the Canada Student Financial Assistance Program will further bring a 40% increase to Canada Student Grants so that full-time and part-time students, along with students with a disability as well as those with a dependent can benefit from it.
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Moreover, the changes will include the removal of credit screening requirements for students aged either 22 years or older. Such students must be applying for financial aid for the first time.
This extension of student financial aid was announced on 03rd September 2024 by the Minister of Employment, Workforce Development and Official Languages, Randy Boissonnault. The changes are set to last from 2024 to 2025.
This extension of weekly loan is set to benefit about 297,000 students, while the increase to Canada Student Grants will assist 587,000 students. Further 1,000 students will reap benefits of the elimination of credit screening requirements.
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