Monday, January 30, 2023

Canada will provide up to $6,000 in financial aid for students in 2023

(photo: UBC prospective graduates)

Post-secondary students in Canada have the opportunity to access a wealth of financial resources in 2023! If you are looking for support to cover your educational expenses, rent and more, the Canadian government has several options available to you ranging from grants and incentives ranging from $100 to $6,000.

These benefits are of utmost importance when properly oriented and to achieve the same, it is advisable to take the help of someone financial advisor in canada,

Find out how you can get financial aid from the government and reduce the financial burden of your education:

1. Canada Housing Benefit (CHB)

Renters in Canada have the opportunity to receive additional assistance to cover their rental costs, thanks to the federal government!

The Canada Housing Benefit provides a one-time payment of $500, tax-free, to those who qualify based on income and cost of rent. Don’t miss your chance to apply for this top-up before applications close on March 31, 2023!

2. Canada Learning Bond (CLB)

Are you looking to help pay for your child’s educational costs after high school? Canada Learning Bonds (CLBs) are an excellent option.

The federal government contributes up to $2,000 to a Registered Education Savings Plan (RESP) to help cover full-time or part-time study expenses at apprenticeship programs, CEGEPs, trade schools, colleges, or universities.

The CLB includes $500 for the first year of eligibility and $100 for each additional year until the child turns 15. Also, people who were born on or after 2004 and did not get CLB as a child can apply for it when they turn 18 and up to a day before they turn 21.

Nation World News Desk
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