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 annual income threshold for their family size in accordance with Table 6 of Schedule 4 from the student’s family income, and
- C
- is the monthly phase-out rate set out in column 3 of Table 6 of Schedule 4.
(2.1) Despite subsection (2), for each of the loan years commencing on August 1, 2021 and August 1, 2022, the maximum amount of the grant for each month of study is the lesser of $750 and the amount determined by the following formula:
A – (B x C)
where
- A
- is $750;
- B
- is the result obtained by subtracting the applicable annual income threshold for their family size in accordance with Table 11 of Schedule 4 from the student’s family income; and
- C
- is the monthly phase-out rate set out in column 3 of Table 11 of Schedule 4.
(3) In addition to the grant given in accordance with subsection (2) or (2.1), a student is entitled to receive financial assistance in the amount of $200 for each month of study if at least 10 years have passed between leaving secondary school and the confirmed period.
(4) and (5) [Repealed, SOR/2018-31, s. 9]
- SOR/2005-152, s. 9
- SOR/2009-143, s. 14
- SOR/2016-199, s. 4
- SOR/2017-126, s. 2
- SOR/2018-31, s. 9
- SOR/2020-144, s. 7
- SOR/2021-138, s. 5
- Date modified: