Canada Student Financial Assistance Regulations
40.02 (1) The Minister, an appropriate authority or a body authorized by the Minister for a province may make a grant to a qualifying student who
(a) is qualified for enrolment or is enrolled as a full-time student in a program of studies of at least two years’ duration that leads to a degree, certificate or diploma not beyond the undergraduate level;
(b) meets the criteria set out in paragraphs 12(1)(a) and (b) of the Act; and
(c) is not denied further student loans under section 15.
(2) The maximum amount of the grant for each month of study shall be the lesser of $375 and the amount determined by the following formula:
A – (B x C)
where
- A
- is $375,
- B
- is the result obtained by subtracting the applicable income threshold set out in column 2 of Schedule 4 from the amount of the student’s total family income from the previous year, and
- C
- is the applicable figure set out in column 3 of Schedule 4.
(3) Beginning in 2018, the threshold amounts in column 2 of Schedule 4 shall be adjusted annually on August 1 by the annual percentage increase to the Consumer Price Index for the previous calendar year. The resulting threshold amounts rounded to the nearest dollar apply during that loan year.
(4) If the amount determined in subsection (3) is less than the value applicable for the previous loan year, no adjustment is to be made to the thresholds applicable for that loan year and the thresholds applicable for the preceding loan year continue to apply for that loan year.
(5) For the purpose of subsection (3), the Consumer Price Index is the annual all-items Consumer Price Index for Canada published by Statistics Canada.
- SOR/2005-152, s. 9
- SOR/2009-143, s. 14
- SOR/2016-199, s. 4
- SOR/2017-126, s. 2
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