The Canadian government offers financial assistance to students facing financial stress through student grants. With the next academic session beginning on 1 August 2024, the students must be wondering about their 2024-25 Canada Student Grant.
Canada Student Grant
Under the Canada Student Financial Assistance Program, the Canadian government provides grants and loans to students to help them achieve their career goals without worrying about finances. The grants and loans under the program help full-time and part-time students manage the cost of their post-secondary higher education.
The Canadian government works with territorial and provincial governments to offer student grants to the students. The beneficiaries of the Canada Student Grant receive the benefit according to the academic year runs from 1 August to 31 July. The students can avail of the following Student Grants under the CASA:
- Canada Student Grant for Full-time Students/Part-time Students
- Canada Student Grant for Full-time Students/Part-time Students with Dependent
- Canada Student Grant for Students with Disabilities
- Equipment and services grants for Students with disabilities
Every year, the government implements some changes in the program to help the students as much as they can with higher study costs through grants. Earlier this year in the 2024 Budget, the government announced the extension of 2023-24 grants from $3000 to $4200 for the 2024-25 year. The students will receive the grants applicable for 2024-25 from 1 August 2024.
Canada Student Grant Eligibility
The students can avail of the Canada Student grant when they meet the following eligibility requirements of the grant:
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- You must be a Canadian citizen, permanent resident, or a protected person under the Indian Act,
- You have enrolled for the course/ Diploma/ or Degree that lasts at least 12 weeks at recognized and designated post-secondary schools.
- You need financial assistance to cover your post-secondary school expenses.
- Your previous year’s total family income is below the following income threshold based on the number of family members:
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| Family member | Family income for Maximum grant | Cut-off family income above which the student does not qualify for the grants |
| 1 | $36,811 | $68,324 |
| 2 | $52,059 | $95,664 |
| 3 | $63,760 | $114,436 |
| 4 | $73,624 | $126,441 |
| 5 | $82,313 | $137,460 |
| 6 | $90,170 | $147,460 |
| 7 or above | $97, 395 | $156,919 |
The above table is for the student grant for full-time students, whereas students with dependents’ family income threshold begins from $52,059. The student can receive the grant until the family income reaches the cut of $95,664 for two members. Similarly, the students can check the income threshold for each type of grant on the official Canada services website.
Exclusion:
- The Canada Students Grants are not applicable to Students living in Northwest Territories, Quebec, and Nunavut as they have their own student aid programs to support the future generation.
Canada Student Grant Amount for 2024-25
As mentioned earlier, the government has extended the annual student grant from $3000 to $4200 for 2024-25, which means the students can expect up to $520 per month depending on the circumstances, applicant status, and other factors.
The amount of Canadian student grants depends on many factors, such as:
- Your family income
- The territory or provide you are living in,
- Whether you have dependents living with you
- Whether you have a disability or permanent disability
- Your living expenses and tuition fees
- Marries or common law students
The students can calculate their Student grant based on the applicable allowances for their province by visiting the official website of their province or nearby office.
How to apply for the Canada Student Grant 2024-25?
Students who wish to avail of the Canada Student Grant benefits can first apply for student aid in their respective province or territory to claim the Canada Student Grant. The students can follow the following procedure to complete their application for the Canada Students grant:
- Students should visit their province website related to the student Grant and Aids.
- Check their eligibility for student grants or loans under the Student aids.
- You must complete the application for student aid on the province website or you can physically visit the province office to inquire about the Student aid offered in your province. However, online services are best for fast application services.
- After you apply for student aid, your territorial or provincial student aid service will assess your application and they will contact you to complete the further steps to avail of the financial support.
The authority will automatically assess your student grant eligibility and identify the grant applicable to your financial need. After the application approval and enrollment confirmation from your post-secondary school, you will receive the student grants and other student aid services applicable to them.
What is the lifetime limit of Canada Student Aid?
The students in Canada receive financial aid under the CASA till they are in post-secondary school. According to the rules, students with student loans need to start paying back the interest-free loan 6 months after they have completed their post-secondary studies.
The CASA allows the following limit to student aid to full-time students:
- The full-time students receive student aid for a maximum of 340 weeks
- The students enrolled in doctoral studies receive student aid for up to 400 weeks
- Students with disability receive the student aid applicable under CASA for a maximum of 520 weeks for post-secondary education assistance.
The Canadian government has reduced the financial stress of many families with the educational cost of children for higher studies.
Students can easily pursue their dream careers without worrying about their basic expenses, so if you are starting your post-secondary education and in need of finances, you can opt for student aid through your province’s student aid services.