Question Period Note: Supporting Students to Access Post-Secondary Education

What is the Government of Canada doing to support students to complete high school and access post-secondary education?

• The Government has announced an investment of over $4.6 billion in a suite of supports for post-secondary education, which is necessary to support students through the pandemic and to sustain long-term economic growth and recovery.
• The Government will double the amount of Canada Student Grants and extend the adult learner top-up grant for an additional two years until 2022-23. It will also make grant eligibility more flexible for low- and middle-income students.
• The Government will expand access to grants and loans supports for students with disabilities to include those with prolonged or persistent disabilities.
• To make repayment more manageable, the Government will permanently increase the income threshold for loan repayment from $25,000 to $40,000 and no one will be required to pay more than 10% of their income. It will also make Canada Student Loans interest free until March 2023.
• To reflect significant investment in student grants and loans in recent years, the Canada Student Loans Program will be renamed Canada Student Financial Assistance.
• The Government has also expanded its funding to the Supports for Student Learning Program, to help vulnerable youth succeed in high school, develop skills, and support their transition to post-secondary education.
• Together, these initiatives support Canada's economic recovery by ensuring that no students are left behind, and that post-secondary education is accessible and affordable for all.

• Budget 2021 builds upon significant investments that supported students in response to the COVID-19 pandemic, by extending the waiver of interest accrual on Canada Student Loans and Canada Apprentice Loans by an additional year (until March 31, 2023), and doubling all Canada Student Grants for an additional two years (until July 31, 2023).
• Additionally, Budget 2021 further enhances grant support by extending the $1,600 Skills Boost adult learner top-up for an additional two years (until July 31, 2023); makes permanent the flexibility to use current year income to determine eligibility for student aid; and, expanding eligibility for disability supports to recipients whose disabilities are persistent or prolonged (starting in 2022-23).
• Finally, Budget 2021 proposes increasing the threshold for loan repayment, so that no borrower will have to begin repaying their loans until they are making at least $40,000. To ensure RAP payments remain affordable to the most vulnerable borrowers, the thresholds for different family sizes would be aligned with Canada Student Grant thresholds, which are indexed to inflation. For borrowers making reduced payments on their student loans, the cap on monthly payments will be reduced from 20 per cent of household income to 10 per cent. These changes will be effective in 2022-23.
• Additional funding for the Supports for Student Learning Program (SSLP) will expand support to after-school programs that help students stay engaged in their education and transition to PSE, while also addressing the immediate, negative impacts and disruptions caused by the COVID-19 pandemic. These supports are expected, over the longer-term, to increase high school graduation rates, increase access to and success in PSE, as well as better labour market outcomes for students who received supports.
• Together, these measures represent an investment of over $4.6 billion over five years and are expected to help over 2 million current, former, or aspiring post-secondary students per year.

None