On March 1, 2023, Quebec enacted a new regulation revising key provisions of financial assistance for education expenses. This regulation introduces several updates aimed at adjusting financial aid amounts to better accommodate current economic conditions and enhance support for students.

The primary objective of these amendments is to enhance the financial support available to students by increasing the amounts allocated for various forms of assistance and refining calculation methods. These changes are designed to more accurately reflect the current cost of education and ensure that students receive sufficient support to manage their educational expenses effectively. The updated regulation underscores a commitment to improving accessibility to education and providing timely financial aid to students amidst rising educational costs.

The base financial assistance amounts have been revised from $1,533 to $1,632 (sections 2 and 9). Maximum allowances for educational expenses have been raised, with new maximums set at $3,450 (up from $3,241) and $2,929 (up from $2,752), respectively (sections 17 and 18).

The amount of assistance for specific educational expenses has increased from $297 to $316 (section 26). Financial support levels for various educational costs have been adjusted, including increases from $201 to $214, $229 to $244, and $435 to $463, among other changes (section 29). The maximum financial aid amounts have been updated, with previous figures of $474 and $1,013 now set at $505 and $1,078, respectively (section 32).

Financial support amounts designated for particular educational needs have been increased, such as an increase from $183 to $195 and from $514 to $547 (sections 33 and 34).

There are significant increases in maximum loan and bursary amounts, with adjustments from $15,687 to $16,697 and from $19,263 to $20,580 (section 50). The amounts used in the calculation of bursaries have been raised, with increases from $221 to $235 and from $334 to $356 (section 51).

A new provision reduces the increase in maximum loan amounts by half for months during which students are deemed to be pursuing full-time studies (section 54.1). The method for calculating full-time study periods has been revised to consider only half of the months (section 56).

Support amounts for various educational needs have been increased from $270 to $287 and from $3,241 to $3,450, respectively (sections 74 and 82). The rates for certain allowances have been adjusted, including increases from $2.40 to $2.56 per unit and from $137.55 to $148.95 (Section 86).

The regulation will be applicable from the 2023-2024 allocation year and will come into force March 16, 2023.

Source: Quebec (chapter A-13.3), March 1, 2023.