Canada Student Grant: up to $6,000/yr for low-income full-time students · Canada Student Loan: up to $14,000/yr combined with provincial loan · Interest-free while in school · 6-month non-repayment period after graduation
How Canadian Student Aid Works
Canadian student financial aid has two layers: the federal layer (Canada Student Grant and Canada Student Loan, administered by Employment and Social Development Canada) and the provincial/territorial layer (each province runs its own grant and loan program). Most students receive both — the application is typically integrated so you apply once and get assessed for both.
The Canada Student Grant provides free, non-repayable funds based primarily on family income. The Canada Student Loan provides repayable funds. Your provincial program adds additional grants and loans on top of the federal base.
Province-by-Province Student Aid Comparison (2026)
| Province | Program | Max Grant/yr | Max Loan/yr | Interest (provincial) |
|---|---|---|---|---|
| Ontario | OSAP | ~$100 | ~$14,000 combined | Prime + 1% |
| British Columbia | StudentAidBC | ~$4,000 | ~$17,000 combined | Prime + 2.5% (fixed) or prime |
| Quebec | AFE (Aide financière) | ~$7,000 | ~$100 | Prime (QC portion) |
| Alberta | Student Aid Alberta (SAFA) | ~$5,000 | ~$16,000 combined | 0% (AB eliminated interest) |
| Manitoba | Manitoba Student Aid | ~$5,000 | ~$15,000 combined | Prime + 1% |
| Saskatchewan | SK Student Loans | ~$4,000 | ~$14,000 combined | Prime + 2% |
| Nova Scotia | NS Student Assistance | ~$4,200 | ~$13,500 combined | Prime + 1% |
| New Brunswick | NB Student Assistance | ~$3,800 | ~$12,500 combined | Prime + 1% |
| Newfoundland & Labrador | NL Student Financial Aid | ~$5,000 | ~$13,000 combined | 0% (NL eliminated interest) |
| Prince Edward Island | PEI Student Financial Assistance | ~$3,500 | ~$12,000 combined | Prime + 1% |
All figures are approximate for 2025–2026. Amounts depend on full financial assessment. Federal portion is the same for all provinces.
Key Differences Between Provinces
Ontario (OSAP)
Ontario's OSAP is among the most generous in Canada for low-income students, particularly after the 2017 reform that eliminated tuition for families earning under $50,000 (effectively via grant). The grant is means-tested on a sliding scale up to $175,000 family income. The Ontario Student Loan is repayable at provincial interest rates, currently prime + 1%.
Alberta (SAFA)
Alberta's most notable feature: the province eliminated interest on provincial student loans in 2022. This means your Alberta Student Loan component is interest-free throughout its life — only the federal Canada Student Loan accrues interest post-repayment-period. For students with high loan balances, this can save thousands of dollars.
Newfoundland (NL SFA)
NL also eliminated interest on its provincial student loans and has the lowest tuition in Canada (Memorial University). Combined with the federal Canada Student Grant, NL students from low-income families may graduate with very minimal debt.
Quebec (AFE)
Quebec runs a completely separate student aid system (AFE) that is not integrated with the federal system in the same way other provinces are. Quebec students do not receive the Canada Student Grant directly — instead, Quebec receives a "Quebec Abatement" from the federal government and runs its own equivalent program. AFE is need-based and considers parental contribution on a different scale than OSAP.
Canada Student Loan Forgiveness Programs
The federal government offers several loan forgiveness or reduction programs:
- Repayment Assistance Plan (RAP): Caps monthly payments at 20% of income; government covers interest while on RAP
- Permanent Disability Benefit: Full loan forgiveness for students with permanent disability affecting employment
- Death Benefit: Loan discharged on borrower's death
- Nova Scotia, NB, and other provincial forgiveness programs: Graduates who live and work in specific provinces can receive partial tuition rebates on provincial taxes
Comparing Aid: Example Student — $60,000 Family Income
| Province | Estimated Grant | Estimated Loan | Total Aid |
|---|---|---|---|
| Ontario | $6,000 | $8,000 | $14,000 |
| BC | $3,500 | $9,500 | $13,000 |
| Alberta | $4,000 | $9,000 | $13,000 |
| Quebec (AFE) | $5,500 | $7,000 | $12,500 |
| NL | $4,500 | $8,000 | $12,500 |
| Atlantic (avg) | $3,500 | $8,500 | $12,000 |
The differences between provinces in grant generosity are real but often smaller than students expect — the federal layer equalizes outcomes somewhat. The bigger differences are in tuition (Quebec is dramatically cheaper) and living costs (prairie cities are much cheaper than Vancouver or Toronto).
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