Improvements to the Loans and Bursaries program will enter into force in the coming weeks to ensure that students’ needs are met and to encourage a return to studies, despite the COVID-19 pandemic.
The modifications will apply as of the 2020-2021 award year (September 2020 to August 2021). However, as applications for financial assistance have already been received, files will automatically be reassessed in the coming months. You will receive a notice indicating the changes. Please note that, until the amount of financial assistance is recalculated, the agents will not be able inform you of the amount to which you are entitled.
|Information on improvements||2019-2020||2020-2021|
|Living expenses||Beneficiary living with their parents||$434||$456|
|Beneficiary not living with their parents||$929||$975|
Temporary allowable expenses for 2020-2021 award year
|Beneficiary living with their parents||-||$96|
|Beneficiary not living with their parents||-||$205|
|Student contribution standards||Protected income base amount||$1 171||$1 475|
|Thresholds for contributions from others||Two parents living together||$48 500||$55 000|
|Parent living alone||$43 500||$50 000|
|Spouse||$41 500||$48 000|
|Allowance for training support materials (per term)||-||$150||$500|
Additionally, there will be a temporary exemption for income earned during the fight against COVID-19. No employment income earned between March 13 and August 31, 2020, by working in certain organizations in the health and social services network will be considered for the 2020-2021 year. However, this income must be declared at the line “Gross employment income”. During the year, a notice will explain the procedure for declaring income not considered.
Temporary exemption for income earned during the fight against COVID-19
No employment income earned between March 13 and August 31, 2020, by working in certain organizations in the health and social services network will be considered for the 2020-2021 year.
You must report the income on the Income not considered line and on the Gross employment income line. Therefore, the income will not be considered for the purposes of determining your financial assistance. The procedure for reporting this income will be available in January. You will be able to fill out a Confirmation of Financial Resources form. It will also be possible to fill out a Declaration of Change form as of December 10, 2020.
Allowance for training support materials (ATSM)
You may request this allowance by means of your financial application form. You may also request it later when submitting a Declaration of Change form. Please note that this request cannot be cancelled.
Reduced parental income because of COVID-19
If your parents experience an income drop of at least 10% and you are a dependent, encourage them to fill out one of the following forms:
- Declaration of income drop of at least 10% - Mother
- Declaration of income drop of at least 10% - Father
Eligibility for student financial assistance
You may be eligible for student financial assistance because of these improvements. You may submit an application online and transmit the required documents.
To consult also
Last update: March 29, 2021