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These changes would, starting in the 2019–20 school year, reduce the family income threshold for grants from $175,000 to $140,000, require that the loan-to-grant ratio for funding given to students be at least 50 percent loan, and remove the six-month interest-free grace period for the Ontario portion of loans following graduation. [4] [5] [6]
The government of British Columbia eliminated interest on its student loans on February 19, 2019. The Canadian federal government eliminated interest on its student loans as of April 1, 2023. [8] In September 2010 the amount of student loans owed to the Government of Canada surpassed $15 billion.
Ontario Scholars are high school graduates in the Canadian province of Ontario who attain an average of 80% or greater in their six best Grade 12 courses. [ 1 ] The award is granted by the Ontario Ministry of Education , and consists of a certificate from the Minister of Education that is usually presented to students at their graduation ceremony.
Canada spends an average of about 5.3 percent of its GDP on education. [29] The country invests heavily in tertiary education (more than US$20,000 per student). [30] As of 2022, 89 percent of adults aged 25 to 64 have earned the equivalent of a high-school degree, compared to an OECD average of 75 percent.
The William D. Ford Federal Direct Loan Program (also called FDLP, FDSLP, and Direct Loan Program) provides "low-interest loans for students and parents to help pay for the cost of a student's education after high school. The lender is the U.S. Department of Education ... rather than a bank or other financial institution." [1]
Education in British Columbia comprises public and private primary and secondary schools throughout the province. Like most other provinces in Canada, education is compulsory from ages 6–16 (grades 1–10), although the vast majority of students remain in school until they graduate from high school (grade 12) at the age of 18.
In 2015, expenditures by international students, including tourism associated with visitors to the students, was worth $12.8 billion; in 2016, that figure had increased by 21.2% to $15.5 billion. Long-term international students spent an estimated yearly average of $33,800 in 2015 and $35,100 in 2016.
Ontario Academic Credit. The Ontario Academic Credit (OAC), which may also be known as 12b (French: Cours préuniversitaire de l'Ontario or CPO) was a fifth year of secondary school education that previously existed in the province of Ontario, Canada, designed for students preparing for post-secondary education.