Increasing supports for students and borrowers

Published April 13, 2023

The B.C. government has announced important measures to help make school more affordable and to support individuals who need help repaying their student loans.

Doubling the Provincial Weekly Loan Maximums

Effective, August 1st, 2023, StudentAid BC will double the provincial weekly loan maximums:

  • from $110 per week to $220 per week for individuals; and
  • from $140 per week to $280 per week for students with dependants.

Enhancing the BC Repayment Assistance Plan

Effective, August 1st, StudentAid BC will improve BC Repayment Assistance Plan eligibility with the following changes:

  • increasing the income threshold for when a student loan payment is not required from $25,000 per year to $40,000 per year, or higher depending on family size;
  • indexing the above thresholds annually to inflation; and
  • lowering the maximum payment required from 20% to 10% of family income.

Learn more about how to get help with repayment.

Read more: B.C. increases student financial aid, eases repayment