What would you choose between your family and that career-enhancing college course that you always wanted to pursue? One might argue that the question is flawed, but the truth is that thousands of working professionals give up on their higher education aspirations to take care of dependents.
The financial burden of providing for your family’s welfare might not leave much to pursue a full-time educational program at a reputed college or university. Thankfully, you don’t have to let your educational goals come second to your family’s needs as Federal Student Grants, also known as Canada Student Grant, offer grants to full-time students with dependents.
The aim of Federal Student Grants for Full-time Students with Dependents is to help students with the finances required to care for the dependents. While this grant ensures that it is a great period to study for students with children and family to care for, one must wonder who is considered as a dependent. Let’s check out the eligibility criteria to know more:
To be eligible for Canada Student Grants for Full-Time Students with Dependents, you must tick all the boxes listed below:
If you aren’t sure whether the school or the program of your choice is supported by Canada Student Grants, you could always seek help from a guidance counsellor of your preferred school. An insightful chat with an experienced guidance counsellor will not only inform you about various federal and provincial grants that are applicable to the students of their institution, but you can also discover other avenues of financial aid that are offered directly by your school.
Your family’s annual gross income could make or break your chances to qualify for this grant. The income threshold for grant cut-off, as well as the maximum grant amount available to you, is computed on the basis of your family’s gross annual income from the previous year and the number of family members.
Income for Maximum Grant = The amount your family’s annual income should be lesser than to receive the maximum grant amount.
Income Threshold = The amount your family’s annual income should be lesser than to qualify for the grant.
For a family of two people:
For a family of three people:
For a family of four people:
For a family of five people:
For a family of six people:
For a family of seven people or more:
The process of seeking financial aid can be extremely daunting if you had to apply separately for every federal and provincial grant, loan, scholarship or bursary. To simplify the process, the federal and provincial governments direct you to apply only once for student aid with your province of residence. Your financial aid application will be evaluated and all the types of federal and provincial aid that you qualify for will be allocated towards your full-time course.
Let’s say you qualify for a Federal Student Grant for Full-time Students with Dependents. The next obvious thought would be to figure out the amount of money that you are eligible to receive through this grant.
Depending on your family’s income, you can get a grant of up to $400 per month or up to $3,200 for the school year of 2022-23. The amount of money allocated through this grant is in addition to the full-time student grant of up to $750 per month or up to $6000 per school year. The school year will start on August 1st and last up to July 31st.
If your dependents are older than 12 years with no disability or if your family income is above the stipulated income threshold, you will not qualify for this grant. But that doesn’t mean it is the end of the road for your educational aspirations as there are multitudes of other financial aid options to choose from. Check out other student aid programs such as Federal Student Loans, Federal Student Scholarships, and Federal Student Bursaries to help you get back to school.