Changes to Canada Student Loans
January 26, 2018
OTTAWA: Jim Eglinski, Member of Parliament for Yellowhead, is informing residents of recent changes to Canada Student Loans that will take effect in Fall 2018.
A new Skills Boost grants program has been announced. The $287.2-million three-year pilot project will offer a $1,600-per-year federal student grant for adults who have been out of school for more than ten years.
In addition, a person’s eligibility for a Canada student grant will be based on their current year of earnings, rather than their previous year of earnings. This change is intended to better reflect the financial need of individuals, especially if they have experienced a reduction in hours or been laid off.
There have also been complimentary changes to the employment insurance (EI) program to support those wanting to return to school. Recipients of EI are required to be ready and available for work as a condition of receiving the funds, and enrolling in a program of study used to put an individual’s EI claim at risk. With the new changes, recipients of EI will now remain eligible if they enroll in an educational program.
“Due to recent layoffs of coal miners in our riding, I am hopeful that these changes will benefit many in Yellowhead. I encourage anyone interested in pursuing a new career, or brushing up on their current skills, to ensure they take full advantage of the Skills Boost grant program,” concluded MP Eglinski.
More information can be found at: www.canada.ca/en/employment-social-development/news/2018/01/going_back_to_schoolisnowmoreaffordablethankstoskillsboost.html