By Canadian Immigrant Magazine |
By Canadian Immigrant Magazine |
For generations, Canadian immigrant parents told their children a similar story: if you want a good job, stay in school. Unfortunately, for too many Canadians, rising costs have made post-secondary education less affordable.
Fewer people are able to save enough for their education. That’s why the Government of Canada is making a change to student financial assistance — the government is making increases to Canada Student Grants and changes to the Repayment Assistance Plan.
In time for the 2016-2017 school year, Canada Student Grant amounts increased by 50 per cent; from $2,000 to $3,000 per year for full-time students from low-income families; from $800 to $1,200 per year for students from middle-income families; and from $1,200 to $1,800 per year for part-time students from low-income families.
Additionally, beginning Nov. 1, the Government of Canada will ease the rules on its Repayment Assistance Plan by ensuring that no single borrower will be required to make any repayment until he or she is earning at least $25,000 per year.
Taken together, these enrichments will help Canada’s students by relieving the high cost of a post-secondary education so they may equip themselves with education and skills they need to join a strong, healthy and vibrant middle class.
“Education is the key to future success and prosperity. Our investments are making post-secondary education more affordable and more accessible for more students. It’s going to help grow the Canadian middle class and help Canadians get the skills and experience they need for good jobs,” says Minister of Employment, Workforce Development and Labour MaryAnn Mihychuk.
Investment in Humber College
To complement the changes to Canada Student Grants, the Government of Canada is also making historic investments in the spaces where students learn, experiment and achieve through the Post-Secondary Institutions Strategic Investment Fund. It is providing more than $21 million in funding for Humber College in support of two sustainable infrastructure projects that will enable students to create energy-efficient living environments and will retrofit buildings on campus so they use less energy.
The Province of Ontario will contribute an additional $3.3 million and Humber College will add more than $39 million bringing the total investment to $64.55 million. In this way, the Strategic Investment Fund will jump-start a virtuous circle of discovery and innovation, creating the right conditions for long-term growth that will yield benefits for generations to come.
“This funding will enable Humber to continue to support two of our core values: innovation and sustainability. With this announcement, the federal government has acknowledged the significant role that postsecondary institutions play in fostering innovation, entrepreneurship, research and environmental sustainability,” says Chris Whitaker, President and CEO of Humber College.