Canada Student Grant amounts are increasing by 50 per cent as of August 1.
The increase in grant funding will affect students from low and middle-income families, according to a statement released by the federal government.
Full-time students from low-income families will receive an extra $1,000 in grant funding per year, increasing from $2,000 to $3,000.
For full-time students from middle-income families, grants will increase from $800 to $1,200 per year, and from $1,200 to $1,800 for part-time students from low-income families.
The government said the changes will affect over 350,000 students.
Ontario students can apply for these grants through the Ontario Student Assistance Program (OSAP). Students outside of Ontario can apply for the grants through their province.
The Liberal Party previously proposed a 50 per cent increase to grant funding as part of the 2016 budget.
“This will allow students to focus on their education while working to fulfill their greatest potential without having to worry about taking on even more debt,” the release said.
As part of the changes, students also won’t have to repay student debt until they are earning $25,000 per year, which will take effect November 1, 2016.
“This will allow students to complete their studies with the confidence of knowing that debt repayments will not become an overwhelming burden,” the release said.
The release also noted “further enhancements” at the federal level are expected for the 2017-18 school year.
