Island Advantage Bursary
If you are a PEI resident attending either UPEI, Holland College, or Collège de l'Île, you may be eligible for the Island Advantage Bursary, a low- and middle-income, needs-based bursary.
When combined with the Canada Student Grant for Full-Time Students (CSG-FT), your tuition costs may be fully covered.
How do I apply?
To find out if you qualify for this bursary, you must apply for a student loan. Your income will be assessed as part of this process and you will be advised if you are eligible for this bursary. If you wish to only apply for this bursary and the Canada Study Grants, then enter $1 as your "requested amount" on your student loan application. Entering $1 of need will prevent you from being assessed for student loans. Island Advantage Bursaries are usually divided into two payments, one payment in the fall and the other payment at your midpoint of study in the winter term. Awards are sent directly to your post-secondary school and deposited into your student account.
How do I determine if I am eligible?
To receive the bursary, you must meet ALL of the following criteria:
- You are a student who meets PEI residency requirements as stated in the provincial student loan criteria;
- You are a Canadian citizen, or a permanent resident as defined by subsection 2(1) of the federal Immigration and Refugee Protection Act, or a protected person within the meaning of subsection 95(2) with a valid Social Insurance Number (SIN);
- You are enrolled in a full-time, post secondary education at either UPEI, Holland College, or Collège de l'Île, leading to an undergraduate degree, certificate, or diploma:
- Your total family income for the previous calendar year ( January 1- December 31) must be less than the income cut-off amount listed in the following table:
|
Your family size
|
Gross annual family income eligibility for maximum bursary
|
Gross annual family income eligibility for bursary cut-off
|
|---|---|---|
|
1 person
|
$ 36,811
|
$ 68,313
|
|
2 people
|
$ 52,059
|
$ 95,664
|
|
3 people
|
$ 63,760
|
$114,436
|
|
4 people
|
$ 73,624
|
$126,441
|
|
5 people
|
$ 82,313
|
$137,460
|
|
6 people
|
$ 90,170
|
$147,863
|
|
7+ people
|
$ 97,395
|
$156,919
|
Note: This sliding scale is based on the same scale used to calculate the CSG-FT.
How much money is available from the bursary?
If you are eligible, you may receive up to a maximum of $121.15 per week of study. For a traditional 34-week program, this would amount to $4,119.
The exact value of the bursary is determined by a single progressive threshold. The size of the grant gradually decreases as your family income increases, with the rate of reduction varying by family size.
At its maximum, the bursary can equal the CSG-FT, but is limited to an amount that when combined with the CSG-FT, does not exceed the fixed tuition cap. For 2024-25, the fixed tuition cap at UPEI is $8,970. The fixed tuition cap at Holland College and Collège de l'Île varies due to a wider range in tuition costs, as follows:
|
Tuition cost
|
Tuition cap
|
|
|---|---|---|
|
Up to $5,100
|
$5,900
|
|
|
$5,101 to $7,140
|
$7,940
|
|
|
$7,141 and over
|
$10,580
|
When do I receive the bursary?
Students must be in full-time attendance at their post-secondary school for 30 days each term before they are eligible for the Island Advantage Bursary. Eligible students will generally receive their bursary in two payments. The first payment is sent to your school at the end of October and the second payment is sent to your school by the middle of February. For students who apply late or have a non-traditional start date, the bursary will be paid in the month following their student loan assessment date. For more information on award dates, please see our Timetable for Loans, Grants, & Bursaries.
For more information, please contact:
Student Financial Services
P.O. Box 2000
Charlottetown, PE C1A 7N8
Office Address:
176 Great George St., Suite 212
Charlottetown, PE
Telephone: (902) 368-4640
Email: studentloan@gov.pe.ca