Support for Canadian Post-Secondary StudentsPosted on: Apr 27, 2020
The Government of Canada recently announced a comprehensive package of supports for domestic students facing challenges related to the COVID-19 pandemic. Here are the highlights:
Canada Emergency Student Benefit (CESB)
This benefit will provide financial support to current post-secondary students (including those set to begin their studies in September) and recent graduates who are unable to find summer work because of COVID-19. Eligible students will receive $1,250 a month, with an additional $500 a month for students with disabilities or students with dependent, for a total of $1,750. The CESB will be administered by the Canada Revenue Agency and students can apply monthly from May to August 2020. This benefit requires Parliamentary approval before the application will launch. During this time, students can prepare by setting up a My CRA account and register for direct deposit to ensure a smooth enrollment process and a timely disbursement of the benefit.
Canada Student Loans Program
For the upcoming 2020-2021 school year, the Government of Canada has increased supports to the Canada Student Loan program.
• Doubling the Canada Student Grant (CSG) for full-time students up to $6,000 and the CSG for part-time students to up to $3,600.
• Broadening eligibility for student financial assistance by removing the expected student and spousal contributions in 2020-2021 to reflect the loss of personal and family income during the pandemic.
• Increasing the maximum weekly loan amount for the 2020-2021 school year from $210/week to $350/week.
• All current 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.
If you do not need to borrow money to pay for university, you may still qualify for the Canada Student Grant. Talk to a Concordia Financial Aid Advisor regarding your eligibility for grants. Sign up for free virtual assistance to complete a 2020-2021 funding application.
Indigenous Student Supports
The Government is allocating $75.2 million to increase support for First Nations, Métis and Inuit students pursuing post-secondary education.
Canada Student Service Grant
A new grant that 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. More details will be made available on the “I Want to Help” platform over the coming weeks, including more detailed information about eligibility, the levels of funding available under the grant, how to apply for a national service position, and how applications will be assessed.
We Are Here to Help
Concordia’s Financial Aid Advisors are here to help. We are currently working remotely so the best way to contact us is by email at firstname.lastname@example.org. If you would like to meet face-to-face (virtually of course) we can invite you to a Google Hangouts Meet – just email us first.
Stay safe, stay home, stay healthy.