Students and their families can borrow up as much as $7.5 million to pay tuition and fees for the next five years in Ontario.
In the 2017-2018 academic year, families and individuals can borrow $5.5 billion and students can borrow an additional $3.5 to $4.5bn to pay off their loans.
Students will also be eligible for an extra $400 to $500 a year in tuition assistance, the agency said.
Financial Aid Canada is working with schools and students to improve access to higher education, and to support students to pay down their debt.
For more information on the program, visit www.financialaidcanada.ca.