Student Resource Centre Blog

This is just a quick update on Student Loan and various grants available for 2009/2010.

Please note that Student Loan applications are now available on-line – as of June 01 (for Alberta students).
(For out-of-province students – please consult your Provincial Student Loan sites.)
You can go to: http://www.alis.gov.ab.ca/ec/fo/studentsfinance/students-finance.html
and follow links to “Applying online”.

NEW FEDERAL GRANTS

FULL-TIME CANADA STUDENT GRANTS

The new Canada Student Grant Program consolidates all federal grants into a single program that aims to provide more students with incentives to pursue post-secondary studies and to reduce reliance on student loans. It is delivered through seven separate grants – three full-time grants, two disability grants, and two part-time grants. The new Canada Student Grants for full-time students are:
Grant for Students from Low Income Families ($250/month)
Grant for Students From Middle Income Families ($100/month)
Grant for Students with Dependents ($200/month per child)

Eligibility for Low/Middle Income Grants* – The student must:
Have applied for funding and demonstrated Canada Student Loan eligibility
Be from a low or middle income family as defined by the Canada Student Loans Program (see Income Threshold Chart)
Be pursuing full-time post secondary studies in a multi-year program that leads to an undergraduate degree, certificate, diploma or professional designation
Not be in a graduate program (Masters, MBA, or Ph.D.)

Eligibility for Grant for Students with Dependents* – The student must:
Have applied for funding and demonstrated Canada Student loan eligibility
Be attending a designated full-time program that leads to a degree, certificate, or diploma
Have at least one dependant under 12 years of age at the study period start date or a dependant who is 12 or older who requires daily care due to a permanent disability
Be from a low income family, as defined by the Canada Student Loans Program – the student does not necessarily have to receive the Low Income Grant to be eligible for the Grant for Students with Dependents

*Note: Students may receive more money than their assessed need, as grant amounts are fixed for all students. Students who demonstrate $1 of assessed CSL eligibility will receive their full grant entitlement. For students funded for more than one semester, federal grants will be disbursed 50% up front and 50% at the midpoint of the study period. These grants will be allocated before any other type of funding. p. 3
What will students receive? Grant for Students from Low Income Families:
$250 per month to a maximum of $3000 per loan year

Grant for Students From Middle Income Families:
$100 per month of study to a maximum of $1200 per loan year

Grant for Students with Dependents:
$200 per month of study, per child

Alberta Income Threshold Charts for Low and Middle Income (pre-tax/gross income – line 150) Family Size Low Income Threshold* Middle Income Threshold
1 person 22,436 42,802
2 persons 27,932 59,923
3 persons 34,338 71,822
4 persons 41,691 80,260
5 persons 47,286 86,812
6 persons 53,329 92,160
7 or more 59,374 96,684

GRANTS FOR STUDENTS WITH PERMANENT DISABILITIES

The two new Canada Student Grants for students with permanent disabilities are available for both full and part-time students: Grant for Students with Permanent Disabilities:
Generally, eligibility criteria remain the same as the former Access Grant criteria
Students are eligible for $2000 per year
Students will receive the full $2000 if eligible (in some cases a student’s grant may exceed their assessed need, as students with $1 assessed CSL eligibility will receive the full $2000)

Grant for Services and Equipment for Students with Permanent Disabilities:

This grant mirrors the former Accommodation Grant (name change only)
Students are eligible to receive up to $8000 for services and equipment