Post-secondary education is one of Canada's most important long-term investments. Ensuring that Canadians can gain the skills and qualifications they need to get good jobs, in high-demand sectors, is key to creating a more competitive workforce.

What's being extended for 2026-27

The Government of Canada has reaffirmed its commitment to affordability and lowering costs for Canadians by extending temporary increases to the Canada Student Financial Assistance grants and loans for the 2026-27 academic year.

Maintaining the 40% increase to grants for full-time students, part-time students, students with disabilities and students with dependants, and the Canada Student Loan limit increase from $210 to $300 per week of study will continue to help make post-secondary education affordable for students.

During the 2026-2027 academic year, approximately 571,000 Canadian students are expected to benefit from the 40% increase to non-repayable grants. Additionally, 422,000 students could benefit from the weekly loan limit increase, which provides students interest-free loans from the Government of Canada.

The federal government is investing close to $1.2 billion in financial aid to keep post-secondary education accessible and help students make high-quality investments in their development and success. Not bad!

How student financial aid works in Canada

The Canada Student Financial Assistance Program provides Canada Student Grants and Canada Student Loans to help students pay for their post-secondary education.

Post-secondary student financial aid in Canada is a joint federal-provincial/territorial system providing loans and non-repayable grants based on assessed financial need. Through a single application, students can access federal funding and provincial funding.

The Canada Student Financial Assistance Program works in partnership with nine provinces and the Yukon to deliver student financial assistance. (Quebec, the Northwest Territories, and Nunavut receive alternative payments from the Government of Canada to administer their own student financial assistance programs.)

The Government of Canada works closely with participating provinces and territories to provide student financial assistance to post-secondary students, with the Government of Canada covering up to 60% of a student's need and provinces and territories expected to cover the rest. Provinces determine how best to meet their portion of a student's need.

Other supports to keep on your radar

The temporary increase to non-repayable Canada Student Grants and increase to the weekly Canada Student Loan limit were introduced in the 2023-24 school year and extended in 2024-25 and again in 2025-26.

The Canada Student Loan Forgiveness benefit is now available for doctors, nurses, early childhood educators, dentists, dental hygienists, pharmacists, midwives, teachers, social workers, personal support workers, physiotherapists, and psychologists.

Through other programs and initiatives such as the Supports for Student Learning Program, Youth Employment and Skills Strategy and the Canadian Apprenticeship Strategy, additional supports are available for eligible post-secondary students.

Of course, you can always explore sites like ScholarshipsCanada to find other sources of scholarships and bursaries to make paying for your education a little easier.