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 the loan year commencing on August 1, 2023, the maximum amount of the grant for each month of study is the lesser of $525 and the amount determined by the formula
A – (B x C)
where
- A
- is $525;
- 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(3) [Repealed, SOR/2018-31, s. 9]
(4) and (5) [Repealed, SOR/2018-31, s. 9]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
- SOR/2023-157, s. 7
- Date modified: