Going back to school is an investment in your future but climbing out from a mountain of student loans can be incredibly stressful.

On November 1, the Federal government announced a new Repayment Assistance Plan (RAP) to help lighten the load for students with Canada Student Loans.

The plan increases the amount a graduate's income can be before having to pay back the loan to at least $25,000. Depending on family size and income a student can apply for a reduction to monthly payments if they make more than $25,000.

The Honourable MaryAnn Mihychuk, Minister of Employment, Workforce and Labour, says the reason behind the financial relief is to help support students transitioning to jobs in their field.

"As a result of this new measure, students will be better positioned to transition into the workforce after graduation."

Along with the new RAP, Canada Student Grants (CSG) have been increased by 50 percent on August 1, 2016. Fulltime students from low income families would recieve between $2,000 to $3,000 per year and students from middle income families between $800 to $1,200 per year.  Part-time students from low income familes are eligible to receive $1,200 to $1,800 per year.

Cochranite, Lisa Larsen, who graduates from SAIT in the spring, says the new repayment plan and increase to CSG is a huge relief.

"With this economy, if I don't find a job right away in my field I might just have to take anything, which I have done before and it's been under that $25,000 so it would be nice not to have to worry about paying that monthly fee and it would be nice to wait until I have a decent job to be able to put this money aside without having to cry a little bit when you do it."

Budget 2016 plans to expand the eligibility of students receiving non-repayable assistance to $790 million over four years and thresholds are forecasted to be in place for the 2017-18 academic year.