The Prime Minister announced approximately $9 Billion to support students and recent graduates who are facing a difficult job market due to COVID-19. The government is proposing a Canada Emergency Student Benefit, a Canada Student Service Grant as well as increasing the existing distinctions-based support for Indigenous, Inuit and Métis students.
The proposed Canada Emergency Student Benefit would provide support to students and new graduates who are not eligible for the Canada Emergency Response Benefit (CERB). 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. Students can earn up to $1000 a month from other sources and still be eligible for the benefit.
The new Canada Student Service Grant will support students who volunteer during the COVID 19 pandemic. For students who choose to do national service and serve their communities,the grant will provide between $1000 and $5,000 depending on their hours.
As currently announced, these benefits are stackable in that students would be eligible to receive both the CESB and the Canada Student Service Grant provided they meet the conditions for both.
OTHER FINANCIAL SUPPORT MEASURES FOR STUDENTS
The Government is also expanding existing federal employment, skills development, and youth programming to create up to 116,000 jobs, placements, and other training opportunities.
The government will also double the Canada Student Grants 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.
The government will broaden eligibility for student financial assistance by removing the expected student’s and spouse’s contributions in 2020-21, in recognition that many students and families will struggle to save for school this year.
The government is enhancing the Canada Student Loans Program by raising the maximum weekly amount that can be provided to a student in 2020-21 from $210 to $350.
The government is increasing existing distinctions-based support for First Nations, Inuit, and Métis Nation students pursuing post-secondary education by providing an additional $75.2 million in 2020-21.
The government is extending expiring federal graduate research scholarships and postdoctoral fellowships, and supplementing existing federal research grants, to support students and post-doctoral fellows, by providing $291.6 million to the federal granting councils. In addition, the government intends to enhance work opportunities for graduate students and post-doctoral fellows through the National Research Council of Canada.
Full Release: https://pm.gc.ca/en/news/news-releases/2020/04/22/support-students-and-new-grads-affected-covid-19
HOW TO APPLY
The government will have to pass legislation in order for the Canada Emergency Student Benefit and Canada Student Service Grant to roll out. Once the legislation passes, it’s expected that further details on eligibility and how to apply will be released.
The distinctions-based funding for First Nations students will be likely be distributed through the existing channel which is to apply through the Post-Secondary Student Support Program. More details should be available through your regional ISC office.