Federal Budget 2023 Canada Student Loan

WEB Canada Student Grant and Loan Supports

Enhanced Student Financial Assistance

For the 2023-2024 school year, the Government of Canada has announced significant enhancements to financial support for post-secondary students, including:

Increased Canada Student Grants

* A 40% increase in the maximum amount of grants, providing up to $4,200 for full-time students.

Raised Canada Student Loan Limit

* An increase in the interest-free loan limit from $210 to $300 per week of study.

Loan Forgiveness for Family Doctors

* Additional support for family doctors through a loan forgiveness program for those who provide services in underserved communities.

Budget 2023 Highlights

These enhancements are part of Budget 2023, which aims to support post-secondary students, make life more affordable for the middle class, and address housing affordability challenges for Canadians. The budget includes: * $814 million in 2023-24 to help students starting their academic year in August. * Measures to make housing more affordable for first-time homebuyers, such as the launch of the Tax-Free First Home Savings Account. These initiatives demonstrate the government's commitment to ensuring that students have access to the financial support they need to pursue their education and achieve their full potential.