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COVID-19 has been the cause of many fatalities and has caused some major financial devastations to the Canadian economy. The pandemic has also affected the life of fresh students and graduates. Coronavirus is the other name of the pandemic COVID-19. It has been the cause of lockdown in Canadian provinces and territories. The emergency situations in Canada have resulted in the closing down of universities. At this peak time, these are the most drastic and unwanted circumstances witnessed globally. Students are the ones under special considerations from the Govt. in the form of support programs and loan offers.
Just as the pandemic has dented the Canadian economy. It has also affected to a huge extent the number of people coming to Canada to study and job purposes. Canada holds paramount importance for students coming to study. It comes 4th in the list of overseas & International student countries after the USA, UK and Australia.
Student’s withdrawal from courses in universities is the aim of the Canadian Govt. as it needs to be stopped. Hence, as the Govt. of Canada is sure that they would soon be out of this situation and would definitely be able to re-engineer their academic system through radical change management.
MEASURES FOR STUDENTS SUPPORT PROGRAM INTRODUCED BY THE GOVT. OF CANADA
According to Prime Minister Justin Trudeau, the future of Canada’s economy and prosperity lies in the hands of our students getting ready to take over the huge economy. These students, the talented and outspoken people of Canada are suffering from a hard time due to COVID-19. Hence, due to the closure of universities, mental pressures, and financial pressures for those who self-finance themselves while they work and study.
Candidates also include those coming to Canada from countries like China, India, Pakistan, Maldives, Bhutan, Bangladesh and many other countries from the rest of the world. The Prime Minister also said that for a sustainable economy there needs to be a strong workforce and good job opportunities, especially for young people. It highly means that giving the students the support they need to continue their studies and giving them encouragement to serve their respective communities.
COMPREHENSIVE FINANCIAL SUPPORT FOR THE STUDENTS
The Govt. apart from their measures for self-employed and affected business owners has also announced for the student’s comprehensive support. This support is for $9billion and these are for the post-secondary students and the recent graduates. Apart from this comprehensive plan, there are additional measures for the students including;
CESB or Canadian emergency students benefit would provide immediate support to the fresh students and new graduates. The beneficiaries of this program will be the ones who are most eligible and affected due to the pandemic COVID-19. Furthermore, this benefit provides $1,250 for the most eligible students and $1,750 for the eligible ones with dependents or disabilities. Hence, these benefits are available from May to Aug this year.
The New Canada service grants are yet another support program or measure that will help students gain valuable work experience and skills while they can be helpful for their communities during COVID-19. Therefore, for the most willing students who chose to volunteer and work for the national service and serve their communities. Hence, the announced is for the Grants that provide funds of $5,000 for their education in fall this year.
ADDITIONAL GRANTS AND SUPPORT FOR STUDENTS
The Govt. of Canada has announced additional Grants and measures for those students so that they can continue their studies in fall. These are student’s sustainability measures for future growth and their placements.
- Canada’s student’s grand shall be doubled for the eligible full-time students. This is an amount of up to $6,000 and up to $3,600 for the part-time students in the year 2020-21. The announcement also doubled the grants for those students with permanent disabilities. Furthermore, for those who have dependents as well.
- Another key measure is the Canada student loan program. An increase in the weekly amount for students in 2020-21. This means from $210 the new amount shall be $350 per week This is a significant rise of $140 per week which means a lot for affected students.
- An extension for students undergoing research programs in the research scholarships and postdoctoral fellowships.
- Provision of $291.6 million to the federal granting councils. Also, a provision of work opportunities for grad students and post-doctoral research. This shall be achieved through a body known as The National Research Council of Canada.
INTERESTING FACTS REGARDS TO THE STUDENT’S PROGRAM & SUPPORT MEASURES
A huge 700,000 grads took advantage of the Canadian student’s Loan Program and these were from all over Canada. Exceptions included Quebec and Nunavut and the Northwest territories. The 71% of the 700,000 got these grants as they stated to the Canadian Govt. that they belonged from middle-class and lower-income families. However, there shall be additional compensations that would be provided to students from Quebec, the Northwest Territories, and Nunavut.
The Govt. of Canada introduced a six month interest-free period on the 3rd Of March 2020. This was for the repayment of student loans for the ones currently under the repayment process.
Hence, for the betterment of students who are about to pass out and enter the job market. The Govt. of Canada has introduced some temporary changes to the Canada summer jobs program. This program will help in the hiring of the summer staff and help them get jobs they need during the summer. A program that will help create 70,000 jobs for the grads between 15 – 30 years old.
