New Financial Support for Students and Recent Graduates

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Needless to say, it has been and continues to be a challenging time for all of us. This situation has affected us mentally, physically, emotionally, and financially. However, there is light at the end of the tunnel and there are measures available to help and support you through this.

Whether you’re just starting your education, recently graduated and are looking for meaningful work, or are worried about covering your rent and basic living expenses, there are financial support options available for you.

New Financial Support Measures from the Government of Canada

Recently, the Government of Canada announced new and increased financial efforts of nearly $9 billion for post-secondary students and recent graduates, including you.

This support is meant to help provide you with the financial relief you need to continue your education or start your career in this trying time.

For incoming and current Sprott Shaw College students and recent graduates, the Government of Canada will offer the following new financial measures:

• Implementing the Canada Emergency Student Benefit (CESB) to provide eligible students and recent graduates with a payment of $1,250 for each 4-week period from May to August 2020. If you have a disability or have at least one child under the age of 12 or other dependents, you may be eligible for an extra $750 for each 4-week period.
• Doubling the Canada Student Grants for all eligible full-time students to up to $6,000 in 2020 to 2021. The Canada Student Grants for Students with Permanent Disabilities and Students with Dependents will also be doubled.
• Enhancing the Canada Student Loans Program by raising the maximum weekly amount that can be provided to a student in 2020 to 2021 from $210 to $350.
• Broadening eligibility for student financial assistance by removing the expected student’s and spouse’s contributions in 2020 to 2021.

As a student or recent graduate, you may qualify for one or more of these options. To learn more about these financial opportunities or see if you qualify, please contact one of our advisors. They are here to help you through this and find the best possible solution for your situation.

For more resources and support on employment, housing, income, or mental health, please visit our page here.

Together, we will get through this. Until then, stay safe and be kind.