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Budget boasts new post-secondary funds – The Aquinian
by ahnationtalk on March 29, 2016297 Views
March 29, 2016
The Trudeau Liberals have unveiled their first budget, and there are some major changes for Canada’s universities and students.
“Parents understand that their children’s future depends on the education and skills they get and that post-secondary education has become an important factor in our children’s future success,” said Finance Minister Bill Morneau in his budget speech. “But every parent knows that post-secondary education is becoming increasingly expensive. The government must do its part to make post-secondary education more accessible.
The government will increase grant amounts to students by 50 per cent. The current low income family grant will be increased from $2,000 to $3,000. Students from middle income families will see their grants go up from $800 to $1,200. The government estimates that this will affect 366,000 students.
Starting in the 2017-2018 academic year graduating students will not have to start paying back their student loans until they reach a yearly income of $25,000. The current cutoff is $20,210.
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