$9 Billion In Funding For Students Affected By COVID-19. Government Giving Massive Financial Help To Students
Post-secondary students are feeling the economic impacts of COVID-19. Many students were preparing to start a summer job in May, and are now worried about how to pay rent and cover basic living expenses, while recent graduates are struggling to find meaningful work. This is a critical point in their lives, and we must do everything possible to support their future.
Prime Minister Trudeau today announced comprehensive support of nearly $9 billion for post-secondary students and recent graduates. This plan will help provide the financial support they need this summer, help them continue their studies in the fall, and help many get the experience they need to start their careers. These measures include launching:
“The future of our economy and our country relies on the opportunities and support we provide to Canadian students today. To promote a sustainable economic recovery, we need a strong workforce and good job opportunities for young people. That means giving them the support they need to continue their studies and encouraging them to serve their communities. Together, we will get through this difficult time.”The Rt. Hon. Justin Trudeau, Prime Minister of Canada
The proposed Canada Emergency Student Benefit, which would provide support to students and new graduates who are not eligible for the Canada Emergency Response Benefit. This benefit would provide $1,250 per month for eligible students or $1,750 per month for eligible students with dependents or disabilities. The benefit would be available from May to August 2020.
The new Canada Student Service Grant, which will help students gain valuable work experience and skills while they help their communities during the COVID‑19 pandemic. For students who choose to do national service and serve their communities, the new Canada Student Service Grant will provide up to $5,000 for their education in the fall.
The government plans to expand existing federal employment, skills development programs in the upcoming months to create up to 116,000 jobs for youths.
Other programs such as Canada Student Grants will be double for all eligible full-time students to up to $6,000 and up to $3,600 for part-time students in 2020-21. The Canada Student Grants for Students with Permanent Disabilities and Students with Dependents would also be doubled. Students will also see a rise in the maximum weekly amount that can be provided to a student in 2020-21 from $210 to $350.
The Government will also provide an additional $75.2 million in 2020-21 for First Nations, Inuit, and Métis Nation students pursuing post-secondary education.
Postdoctoral students will have their federal graduate research scholarships and fellowships extended with an additional $291.6 million grants provided the federal granting councils.
“In order to ensure that post-secondary students are able to confidently continue their studies in the fall, our government is proposing significant measures to support them. From students who were counting on summer employment to pay their tuition to recent graduates who were planning to start their careers, our government has their back during this challenging time.”The Hon. Mona Fortier, Minister of Middle Class Prosperity and Associate Minister of Finance
Taken together, these programs will not only help ensure more students get the financial support they need, but the opportunities and experience many students were counting on.
Today’s funding announcement addresses the many concerns students were expressing about the uncertainty of paying for their education. The Prime Ministers has assured Canadians his government will continue to monitor and respond to the health, social, and economic impacts of COVID-19.
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