Canada Student Loans in 2026
The federal half of a Canada Student Loan carries no interest and has not since 2023. The provincial half depends entirely on where you live, and in Ontario, Alberta and Quebec it still charges you. Grants, repayment assistance, forgiveness and tuition by province.
The claim you have probably read
That student loans in Canada are interest-free. It is true of the federal portion, everywhere, permanently. Interest on Canada Student Loans and Canada Apprentice Loans was permanently eliminated on 1 April 2023. Interest that accrued before that date is still owed.
It is false of the provincial portion in Ontario, which charges prime plus one percent and capitalizes the interest that accrues during your grace period. It is false in Alberta, which charges prime, and in Quebec, which charges prime plus half a percent on a loan held by a private bank. Those three hold most of the country's borrowers.
British Columbia and New Brunswick did eliminate theirs, so an integrated loan in either is genuinely interest-free on both halves.
Which system you are in
| Province or territory | Delivery | Provincial interest |
|---|---|---|
| Ontario | One integrated loan | 5.45% |
| British Columbia | One integrated loan | None |
| Alberta | Two separate loans | 4.45% |
| Quebec | Its own programme, no federal loan | 4.95% |
| Manitoba | One integrated loan | Not established here |
| Saskatchewan | One integrated loan | Not established here |
| New Brunswick | One integrated loan | None |
| Newfoundland and Labrador | One integrated loan | Not established here |
| Nova Scotia | Two separate loans | Not established here |
| Prince Edward Island | Two separate loans | Not established here |
| Yukon | Federal loan, territorial grants | Not established here |
| Northwest Territories | Its own programme, no federal loan | Not established here |
| Nunavut | Its own programme, no federal loan | Not established here |
Federal grants and loans
- $300Federal loan, per week of study
- $525Canada Student Grant for Full-Time Students, per month of study
- $280Canada Student Grant for Full-Time Students with Dependants, per month of study
- $7,734Average Canadian undergraduate tuition, 2025/2026
These figures are temporary, and have been for four years
The $300 weekly loan maximum and the 40% grant increase are temporary and expire on 31 July 2027. They were introduced for 2023-24 and have been extended one year at a time ever since. The base weekly maximum underneath them is $210.
Repayment assistance
The Repayment Assistance Plan asks nothing of a borrower below its income threshold and caps the payment at a tenth of family income above it. In Ontario the same application produces a second, harsher determination on the provincial half, so it is entirely normal to owe nothing federally and still owe Ontario a payment.
Tuition, by province
Statistics Canada publishes tuition by province and by field of study each September. The national average for a Canadian undergraduate is $7,734.00 for 2025/2026, and the spread across provinces is wide enough to matter more than most other decisions on this site.
Sources
- Canada Student Loan forgiveness for family doctors and nurses, Employment and Social Development Canada. Checked on . Backs the three tiers, their maximums and the amount for each year of service; the seventeen eligible occupations; the twelve-month and ten-month service requirements and the 400-hour minimum; the eligible community definition and the parallel legacy definition.
- Canada Student Grants and Loans, Employment and Social Development Canada. Checked on . Backs the grant maximums and the income thresholds they are read against; the private for-profit institution restriction from 1 August 2026.
- Government of Canada extends financial supports for post-secondary students, Employment and Social Development Canada. Checked on . Backs the $300 weekly loan maximum for 2026-27; that the uplift expires on 31 July 2027; the 60% federal share of assessed need.
- Interest-free loans for students, effective 1 April 2023, Employment and Social Development Canada. Checked on . Backs the permanent elimination of federal interest on 1 April 2023.
- Repayment Assistance Plan, Employment and Social Development Canada. Checked on . Backs the federal zero-payment monthly income thresholds by family size; the 10% cap on the affordable payment; the six-month application period; the 15-year horizon, and 10 years for a borrower with a disability.
- Pay back OSAP, Government of Ontario. Checked on . Backs Ontario's separate zero-payment thresholds; Ontario's 20% cap on the affordable payment; the Stage 1 and Stage 2 structure; interest on the Ontario portion at prime plus one percent.
- The Repayment Assistance Plan (backgrounder), Employment and Social Development Canada. Checked on . Backs the reduction of the affordable payment cap from 20% to 10% in November 2022.
- Tuition and Living Accommodation Costs survey (record 3123), Statistics Canada. Figures describe 2025/2026. Collected automatically on , so nobody checked this row by hand.