The negative economic impact of COVID-19 is rapidly increasing. The impact is taking its toll on employees, parents and retirees and the federal government is cushioning the negative impact with focus-based benefit programs.
The focus-based benefit programs caters for students and recent graduates. The earning opportunities should have started in May as things are getting worse due to the fact that employers are no longer hiring but firing. As a student that is worrying about how you will pay next session’s tuition fees, the food news is here as you can obtain $5,000 emergency payment.
The federal government is commencing the new Canada Student Service Grant to follow up Canada Emergency Student Benefit (CESB). Eligible students that are not able to find employment can apply for the CESB.
The CESB runs from May to August 2020 and students can access $1,250 in four weeks under the programme. Students with disability or dependents will access $2,000. Under this new student grant, beneficiaries should be willing to volunteer and carry out national service. The benefit is up to $5,000 grant and it covers costs of education in the fall.
In addition to both programs, there are other people in the works like the Canada Student Loans Program’s enhancement and extension of federal graduate research scholarships and postdoctoral fellowships that are expiring. A six-month moratorium is in place as regards repayment of Canada Student Loans.
Canada is not taking chances when it comes to the younger generation’s welfare. Some programs are providing skills development and training in addition to financial support.
The Prime Minister of Canada, Justin Trudeau has acknowledged the need for a potent workforce and robust job opportunities for students as these students will end up joining mainstream employment and help in creating a sustainable economic recovery plan.
