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Canada has Announced C$2 Billion Fund for Modernizing Their University Campuses

March 2016, 30
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According to the announcement from the Canadian Government, Canadian universities would get up to 2 billion Canadian dollars for helping them in modernizing their infrastructure.

The latest Post Secondary Institutions Strategic Investment Fund, which would be given to the universities over three years from this year, was announced previous week in the initial budget from the new Justin Trudeau-led Liberal Canadian government.  It would help up to 50% of the eligible costs of on-campus infrastructure projects at the universities and the affiliated commercialization and research organizations. 

The Canadian government had also announced that an extra  95 million dollars per year for the nation’s research granting councils from this year. It would be the highest amount set for the discovery research.

According to the Universities Canada chair and Calgary University President, Elizabeth Cannon, they welcomed the decision; the government understands that the universities are able to drive the economic stimulus and long-term prosperity through the infrastructure projects, through research and by making sure that the students had the skills they require.

She also said that they are very much excited that the researchers and students would gain from the latest innovation and research and facilities and their enhanced environmental sustainability.

The government’s budget also includes a number of steps for making higher education much more affordable for the students. From this year, state-funded grant also called as Canada Student Grant would be raised from 2000 to 3000 Canadian dollars every year for the students from fewer income families and 800 to 1200 Canadian dollars for the students from middle-income households. Part-time students would also get 600 Canadian dollars yearly increase to 1800 Canadian dollars. These hikes were promised by the government during its election promises previous year.

The student loan repayment threshold would also be hiked from 20,210 Canadian dollars to 25,000 dollars. 

Previously this month, the government had also announced changes to the law that would make easy for the foreign students for becoming permanent residents.   

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