The Government of Canada issued a news release on the introduction of a fixed student contribution to determine eligibility for Canada Student Loans Program (CSLP) supports, beginning in the 2017-18 school year.
Beginning in 2017, students will only be expected to provide a fixed contribution of between $1,500 and $3,000 per academic year (based on their family income and family size).
The new fixed student contribution will provide students with the simple predictability of a fixed amount to contribute towards their education costs. The simplified fixed contribution will allow low and middle income students to better save, budget, and plan for their future. They’ll no longer need to estimate their earnings or savings, and will know in advance the amount they’ll need to contribute toward their education costs. In addition, more students will be able to continue to work and gain valuable job experience without having to worry about a reduction in their level of financial assistance.
The fixed contribution will also benefit adult learners, many of whom may work while studying, or who have spouses whose resources would previously have been considered in determining eligibility.
Canadians facing barriers to employment will be exempt from making any contribution, including Indigenous students, students with permanent disabilities, students with dependent children, and current or former Crown wards.