Central Campaigns.
Grant Not Loans
The BC government’s 2020 Budget has students and educators celebrating the introduction of an up-front, needs-based student grant program. The BC Access Grant is the first of its kind in BC in nearly two decades, and will help reduce student loan debt for thousands of British Columbians every year.
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Studies have shown that students with large amounts of student loans are more likely to drop out before completing their education; yet if the loans were reduced through the provision of grants or other means, this had a positive impact on their likelihood of staying in school.
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The BC Access Grant will be $41 million annually, which is projected to assist 40,000 students each year; it will be funded through a combination of reinvestments of existing assistance measures and new investment of $24 million over three years. Complementing the Canada Access Grant, the BC Access Grant will ensure eligible students receive as much as $4,000 in non-repayable financial aid in each year of their studies.