The Manitoba government is increasing the maximum benefit of the Manitoba Student Loan by $60 to $200 from $140 per week of study as of August 1 to better support students pursuing post-secondary education, Advanced Education and Training Minister Sarah Guillemard announced today.
In a media release Guillemard said “Access to higher education is critical to growing our provincial workforce and this increase will help reduce financial barriers so more students can pursue post-secondary opportunities. As the cost of living continues to increase, our government remains committed to making life more affordable for Manitobans. This increase will provide additional funding to students who have the highest financial need, so they can remain focused on their studies and achieve their educational goals.”
The minister noted the increase aligns with a recent federal government decision to raise the Canada Student Loan maximum to $300 per week of study for the 2023-24 program year. The Manitoba maximum weekly loan amount was last increased in the 2005-06 program year and the increase will better align Manitoba with other jurisdictions, the minister said.
The Manitoba government also announced an increase in the Manitoba Bursary Fund as part of Budget 2023 through an additional $1.4-million investment to support eligible students. The Manitoba Bursary Fund provides non-repayable, supplemental financial assistance to help lower-income students access post-secondary educational opportunities. The upfront grant provides up to $2,000 to eligible students who apply to Manitoba Student Aid, and up to an additional $1,500 as a top-up for eligible lower-income Indigenous students.
The minister noted the increases align with the Manitoba government’s Skills, Talent and Knowledge Strategy , which is a shared vision among post-secondary partners, industry and government on the direction and actions needed to accelerate recovery, advance Manitoba’s economy, and promote positive outcomes for individuals and businesses.
The minister added six out of 10 new jobs created by economic growth over the next five years will require post-secondary education.
The Manitoba government supports post-secondary students by ensuring programs and financial supports are available to help students pursue educational pathways, develop the skills needed to participate fully in the community, and contribute to a growing economy. For more information, visit www.manitoba.ca/aesi/sas.html
For more information about funding options or to apply for Manitoba student aid, visit https://www.edu.gov.mb.ca/msa/
