COVID-19: New Government Funding Available for Students
COVID-19 has had a significant impact on new and current students and recent graduates – from transitioning to online learning modules to finding employment upon graduation.
The Government of Canada is now intervening with financial aid to lessen the burden of these economic impacts due to COVID-19.
Starting with the Canadian Emergency Student Benefit (CESB) and the Canada Student Service Grant, the Government of Canada is providing more funding options for students currently enrolled in post-secondary. No matter where you are in your student phase, you can speak with your financial advisor or visit the Government of Canada’s website for more details on receiving financial assistance.
Canadian Emergency Student Benefit (CESB)
Post-secondary students and recent graduates, who are ineligible for the Canadian Emergency Response Benefit (CERB), can now apply for this new student benefit. From May through August 2020, the CESB will provide $1,250 per month for eligible students, and $2,000 for students with dependents and those with permanent disabilities.
Canada Student Service Grant
While employment opportunities are limited, now is the perfect time to give back to your communities and provide assistance during COVID-19. With the help of the Canada Student Service Grant, students who choose to do national service and serve their communities will be eligible to receive up to $5,000* to support their education costs in the fall.
- $153.7 million in funding will be provided to the Youth Employment and Skills Strategy, to aid your transition into the workforce. This specific funding is designated for the higher-demand fields including healthcare and technology, creating over 6,000 new job placements for students after they graduate.
- The Youth Employment and Skills Strategy's Canada Summer Jobs program is being revised to include wage subsidies, allowing up to 70,000 job placements during 2020-21, so you can continue to work while you train for your new career.
- International students will be permitted to work an excess of 20 hours per week in essential service fields, including healthcare, critical infrastructure, and supply chain of critical goods and services.
To learn more about the support the Government of Canada will be providing for post-secondary students and graduates, visit their website here.
*More details will be available in the following weeks regarding the levels of funding under the grant and how to apply for national service positions.