Grants can reduce the cost of school, but they do not always cover the full gap.
That’s where Canada Student Loans may enter the picture.
For the 2026-27 academic year, the federal government maintained the increased Canada Student Loan limit of up to $300 per week of study for eligible students.
What Is a Canada Student Loan?
A Canada Student Loan is federal financial assistance intended to help eligible students pay post-secondary education expenses.
Unlike a Canada Student Grant, a loan must eventually be repaid.
The federal program currently provides student loans on an interest-free basis.
Provincial portions of student aid can operate under additional rules.
How Much Can You Borrow?
The 2026-27 federal maximum is up to $300 for each eligible week of study.
That does not mean every student receives $300 per week.
Your assessed amount depends on factors such as income, tuition, living expenses, family circumstances, province or territory and other available financial resources.
Think of $300 as a federal maximum, not an automatic award.
Do You Apply Directly to the Federal Government?
Generally, no separate application is needed for the standard federal loan.
Students apply through their province or territory’s student-aid system.
That process assesses eligibility for participating federal and provincial assistance.
What Expenses Can Student Loans Help Cover?
Canada Student Grants and Loans are designed to assist with educational costs including tuition, living expenses and school-related expenses.
That does not mean students should borrow the maximum simply because it is available.
A loan still creates a future repayment obligation.
How Long Can You Receive Student Aid?
Federal limits also exist on the number of weeks for which students can receive assistance.
Canada currently states that typical full-time students may receive student aid for up to 340 weeks, with higher limits applying in certain circumstances, including doctoral study and qualifying disability situations.
When Does Repayment Start?
Canada’s federal guidance states that repayment generally begins after students leave school, following the applicable non-payment period.
Current federal information describes repayment beginning six months after finishing studies.
Before leaving school, students should log in to their NSLSC account and understand their expected monthly payment.
What If You Cannot Afford the Payment?
Canada has a Repayment Assistance Plan.
Depending on household income, eligible borrowers can qualify for a reduced payment or potentially no required payment for a six-month period.
Borrowers must reapply to remain eligible.
That should be explored before simply ignoring a bill.
Check Your School Before Enrolling
Starting August 1, 2026, important eligibility restrictions affect some private for-profit schools, particularly international institutions.
Canada maintains a master list of designated educational institutions, and designation can also vary at the program level.
This is worth checking before committing tuition or assuming student aid will be available.
Bottom Line
For 2026-27, eligible students may receive up to $300 per week in federal Canada Student Loans.
But the real amount depends on assessed financial need.
Use grants first where possible, borrow only what you need and understand repayment before accepting the loan.
Internal links: Canada Student Grant 2026-27, Canada Repayment Assistance Plan.