[img_inline align=”right” src=”http://padnws01.mcmaster.ca/images/bentley.jpg” caption=”Minister Bentley makes the announcement outside of University Hall. Photo credit: Julia Thomson”]The McGuinty government is doubling its financial aid program to give 135,000 Ontario postsecondary students from low- and middle-income families more assistance starting this year, Chris Bentley, minister of training, colleges and universities, announced recently at McMaster.

“Under our plan, a student's ability — not their wallet — will
determine whether they reach higher through postsecondary education,” Bentley told students. “In addition to doubling student aid funding by 2009-10, our government is taking immediate steps so all qualified students can have access to a college or university education. These are the most significant improvements to student aid since the Ontario Student Assistance Program was set up more than 25 years ago.”

Major improvements to financial aid for students are part of Reaching Higher: The McGuinty Government Plan for Postsecondary Education, which was unveiled in the 2005 Budget. The government is investing $6.2 billion more in Ontario's postsecondary system over the next five years — the largest multi-year investment in 40 years, including $1.5 billion more for student aid.

The government has introduced tuition grants for 32,000 first- and
second-year students. Further aid will also be made available to:

• Expand eligibility for student assistance to better reflect real
  living costs
• Reduce the amount of money middle-income parents are expected to contribute to their children's education
• Increase the availability of interest relief for graduates experiencing difficulty repaying their loans
• Recognize costs, such as computers, in determining need.

The government will be working with students, universities, colleges and others to make the student aid system easier to access, more understandable and available to students earlier in the decision-making process.

“We're pleased that these enhancements will increase the amount of
assistance available to students,” said Stephanie Murray, vice-president of education of the McMaster Students' Union and president of the Ontario Undergraduate Student Alliance. “The government's renewed focus on grant based assistance is a welcome change for Ontario students.”

“In today's knowledge economy, education is the key to prosperity. A
skilled workforce is the economic competitive advantage of the 21st century. But education is about more than economics. It is the measure of our commitment to opportunity — the foundation of an engaged citizenry and a strong democracy,” said Bentley.