Is it permissible for a university student residing in Canada to receive a government grant linked to an interest-bearing loan from a bank, with the intention of immediately repaying the loan and retaining the grant, due to the lack of another financial source and the high cost of living?

If obtaining the financial grant is conditioned upon a usurious loan, then it is impermissible to engage in it, because it necessitates falling into forbidden usury, which is among the major sins that are not permissible except in cases of extreme necessity. This necessity is defined as the individual reaching the point of perishing or being close to it if they do not partake in what is forbidden. The fact that the borrower can repay the loan at any time does not affect the impermissibility of borrowing with usury.