The organization representing post-secondary students in B.C. is applauding a new grant to help students complete college programs and university degrees at a time when the province is experiencing a hot job market.
The new B.C. Access Grant, announced in Tuesday’s provincial budget, will provide up to $4,000 per year to qualifying students starting in September.
“Students have been in B.C. have been fighting for this for almost two decades,” said Tanysha Klassen, chairwoman of the B.C. Federation of Students.
“We are very, very supportive of this. It is going to help students get their foot in the door and also help students graduate with a lot less debt.”
Student debt is at an all-time high and students and their families are struggling to afford the education needed to get into the workforce, Klassen said.
She said students are graduating with an average of $30,000 in debt. “That really inhibits people from starting a family, buying a car, buying a house, contributing to society.”
B.C. has budgeted $24 million over three years for the program. Key to the new grant is its coverage of a broader range of students, including those who are studying part time, taking programs granting diplomas certificate, or enrolled in trades programs.
Those who are taking programs of less than two years might be able to receive up to $4,000 annually.
For those in longer university-level programs, the new grant will kick in up to $1,000 per year. Those students could receive a total of $4,000 per year once the money is combined with the existing Canada Student Grant for full-time students.
Students applying for student financial help from StudentAid B.C. will be automatically evaluated for the new grant and will not need to apply separately.
It is expected that about 40,000 students will receive funds through the Access Grant, close to double the number now accessing three existing programs, which are being wrapped up in the next five months.
Funds from the three programs will be redirected to the Access Grant. Unlike its predecessors, it is needs-based.
Klassen said the new grant will give students who have not had the opportunity to consider post-secondary education, the chance for further study.
She said she is pleased to see that money from the grant will be given to students up front and can be used for tuition as well basic living costs such as rent or groceries.
An estimated 8,500 to 9,000 students taking programs of less than two years or attending part-time are expected to receive Access Grants in the first year.
The program is tailored to labour market forecasts and better aligns with future learning needs and economic needs, the government said. Over the next decade, 41 per cent of job openings will require a trades or certificate or diploma. Thirty-six per cent will require undergraduate and master’s degrees.
