Summary of the Evaluation of the Canada Student Loans Program
From: Employment and Social Development Canada
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Summary of the Evaluation of the Canada Student Loans Program [PDF - 0.43 MB]
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About the program
The Canada Student Loans Program provides financial assistance to students to help them access and afford post-secondary education. In 2018 to 2019, the program provided $5.2 billion in student loans and grants to close to 700,000 students.
Key findings
The findings outlined the importance of the Program in facilitating access to post-secondary education and helping students persist during their studies and graduate.
- Without the federal portion of their student loans and grants:
- many (41%) program participants indicated that they would have delayed their studies, while some (13%) indicated they would not have pursued any post-secondary studies
- many (39%) indicated they would not have enrolled in the same program
- Most (83%) program participants completed a post-secondary program
- Among borrowers who completed their program, many (36%) indicated that they would not have persisted during their studies and graduated, without the federal portion of their student loans and grants
- Half of those who dropped out of their program before completion did so for financial reasons. They indicated they would have continued their studies with a larger student loan
- Program participants had limited understanding of how their student loans and grants were determined and of the different features of the Program
Recommendations
- Examine student financial need with a view to identify funding gaps faced by students
- Further enhance awareness and understanding of the program among Canada Student Grant and Loan recipients