PM’s Update Students

$9 billion of funding in total for students have been announced. They include:

  • Canada Emergency Student Benefit
    • $1,250/month from May to August
    • up to $1,750/month if you take care of someone else or have a disability
    • must be a post secondary student, going to school in September, or graduated in 2019
    • available if earning up to $1,000/month
    • apply through CRA
  • Canada Student Service Grant – those volunteering instead of working will be eligible for $1,000 to $5,000 based on the work done.
  • 76,000 student jobs will be created. Funds will be extended scholarship, fellowships and grants.
  • Student grants will be doubled for the 2020-2021 school year. Additional funding will be made available for Inuit, Metis and First Nations students.

Previously announced student measures include:

Canada Summer Jobs

  • The Canada Summer Jobs program provides opportunities for youth to develop and improve their skills within the not-for-profit, small business, and public sectors, and supports the delivery of key community services. We are making temporary changes to the Canada Summer Jobs program to allow employers to:
    • receive an increased wage subsidy, so that private and public sector employers can also receive up to 100 per cent of the provincial or territorial minimum hourly wage for each employee;
    • extend the end date for employment to February 28, 2021;
    • adapt their projects and job activities;
    • hire staff on a part-time basis.

Student loans

  • All student loan borrowers will automatically have their loan repayments and interest suspended until September 30, 2020.
  • Students do not need to apply for the repayment pause.
  • This moratorium applies to the federal portion of student loans. Borrowers should check with their provincial or territorial student loan provider to see if payment is required on the provincial or territorial portion.
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