Emergency Response Programs for Students Announced. #dontforgetstudents
April 22, 2020
I am pleased to see that on April 22 the government announced emergency 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. Parliament will resume regular sittings next week to review and debate this and other proposed measures.
These measures include the 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.
Also proposed is a 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.
Additionally, the following measures are being put in place to support student loan borrowers during COVID-19:
- The student loan repayment will be suspended until September 30th, 2020:
- If you are registered for pre-authorized debit, they will be automatically stopped so you do not have to do anything.
- If you are making payments by cheque or other means, you are not required to make payments during the suspension period.
- If you want to continue making payments on your loan, you may do so by logging in to your secure NSLSC account and using the Make a Payment option or through online banking.
- Interest will not be charged to borrowers on their student loans from March 30th, 2020 to September 30th, 2020.
For further information please visit the National Student Loans Service Centre.