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Student loans in Canada for 2026-27 keep the bigger federal grants and the higher weekly loan limit. Ontario is the big change: more of OSAP now comes as a loan.
Here are the official amounts, what changed and where to get help with repayment or forgiveness.
Key takeaways
- The federal 40% grant increase and the $300 weekly loan limit were extended for 2026-27.
- Canada Student Loans have been interest-free since April 1, 2023. The Ontario portion charges prime plus 1%.
- One application through your province covers federal and provincial aid.
- Loan forgiveness now covers 17 occupations working in rural or small communities.
2026-27 amounts and limits
| Program | 2026-27 amount | Source |
|---|---|---|
| Canada Student Grant, full-time | Up to $4,200/year ($525/month) | Canada.ca |
| Canada Student Loan, full-time | Up to $300/week of study | Canada.ca |
| Grant for students with dependants | $280 per child per month | Ontario.ca |
| OSAP weekly maximum, single | $530/week | Ontario.ca |
| OSAP weekly maximum, married or sole parent | $875/week | Ontario.ca |
As of September 2026. OSAP maximums apply at public colleges and universities in Canada and approved private schools in Ontario; you may get more, based on assessed need.
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Key dates
| Date | What happens |
|---|---|
| August 1, 2026 | School year and new grant income thresholds start |
| 60 days before study ends | OSAP full-time application deadline |
| 6 months after school | Repayment begins |
| Every 6 months | Reapply for repayment assistance |
Who gets the full federal grant
The grant depends on your previous year’s gross family income. For a family of one, income below $38,474 gets the maximum and $69,987 or more gets none. For a family of four, the figures are $76,952 and $129,769. These thresholds took effect August 1, 2026.
Note: Ontario’s page still lists a $6,300 federal grant maximum. The federal program page says $4,200, and we use the federal figure.
What changed vs last year
- Ontario shifts to loans: for programs starting on or after August 1, 2026, students get more provincial OSAP funding as loans. At career colleges, all provincial funding is now a loan.
- OSAP weekly maximums rose slightly: $525 to $530 for single students and $865 to $875 for married students or sole parents.
- Federal support extended, not raised: grants and the $300 weekly loan limit stay at 2025-26 levels for one more year.
- More forgiveness: dentists, pharmacists, teachers, social workers, personal support workers and others became eligible as of December 31, 2025.
How to apply
- Apply through your province or territory. In Ontario, use the 2026-27 OSAP application; you need your Social Insurance Number.
- First-time full-time OSAP applicants complete a short information module.
- Full-time students submit no later than 60 days before their study period ends.
- Your school confirms enrolment and the funds are released.
You can decline the loan part if you only want grants. Keep an eye on your aid limit: full-time students can receive aid for 340 weeks, 400 for doctoral students and up to 520 for students with a disability.
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Repaying: the Repayment Assistance Plan
Repayment starts 6 months after you leave school. Ontario charges interest on its portion during that grace period. If money is tight, the Repayment Assistance Plan can lower your payment or pause it for 6 months at a time.
- A single borrower earning under $3,866 a month may pay nothing. The threshold is $4,535 for a family of two and $6,412 for four.
- The government covers interest your reduced payment doesn’t, and starts paying principal after 60 months on the plan or 10 years after school.
- Loans are cleared within 15 years (10 for people with a disability) if you stay eligible.
On-time student loan payments help your credit file; our guide to building your credit score in Canada explains why. If other debts pile up, see our debt consolidation guide.
Forgiveness options
Canada Student Loan Forgiveness applies to the federal part only. Over up to 5 years, you could receive $15,000 (early childhood educators, dental hygienists, personal support workers), $30,000 (nurses, midwives, teachers, social workers, physiotherapists) or $60,000 (family doctors, dentists, psychologists, pharmacists). You must work in a rural area or a community of no more than 30,000 people.
Real forgiveness is free and comes only from the government. Anyone charging a fee to “erase” your loan is a red flag; see our guide to fraud and scams in Canada.
How we checked
- Checked: every amount and date on September 23, 2026, on Canada.ca and Ontario.ca only.
- Order: no ranking; programs appear in the order you use them: apply, study, repay.
- Independence: this site is not the government and does not charge to apply. No one paid for placement.
FAQ
How much can I get in student loans in Canada for 2026-27?
Up to $300 per week of study in Canada Student Loans, plus provincial aid. OSAP’s weekly maximum is $530 for a single student.
Do Canada Student Loans charge interest?
No. Federal loans have been interest-free since April 1, 2023. Provincial portions may charge interest; Ontario’s is prime plus 1%.
Is there student loan forgiveness in Canada?
Yes, for eligible occupations in rural or small communities, up to $60,000 over 5 years. The Repayment Assistance Plan also pays down loans for low-income borrowers.
What changed in OSAP for 2026-27?
More of the provincial funding is a loan instead of a grant, for programs starting on or after August 1, 2026.
For the full picture, see our hub Best Personal Loans in Canada 2026, our comparison of the best personal loans in Canada and our guide to loans for bad credit in Canada.
Sources
- Canada.ca — Canada Student Grant for Full-Time Students
- ESDC — Supports extended for 2026-27 (March 23, 2026)
- ESDC — Interest-free Canada Student Loans
- Canada.ca — How funding works
- Canada.ca — Repayment Assistance Plan
- Canada.ca — Canada Student Loan Forgiveness
- Ontario.ca — Learn about OSAP
- Ontario.ca — OSAP maximum amounts of aid
- Ontario.ca — How to apply for OSAP
- Ontario.ca — Pay back OSAP
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