Financial Support and Resources for Students and Recent Graduates during Covid-19

We've recently seen an increase in questions about financial resources available to students during the Covid-19 pandemic and the upcoming fall term. We've compiled a list of some of the federal and provincial resources to help answer some of your questions, but we still strongly advise you to check with your schools since their Student Financial Services and Awards office may have some institution specific options available. Please keep in mind that some of these hyperlinks may change over time, so if you get an error when you click on it, please do a Google search for the title and it should take you to the updated page.

Canada Emergency Student Benefit (CESB)

The Canada Emergency Student Benefit (CESB) provides emergency financial relief to students and recent graduates who are unable to work, or unable to find work, due to reasons related to COVID-19.

Federal Student Financial Support (Grants, Loans and Aid)

The Government of Canada is proposing changes to the Canada Student Loans Program (CSLP) to allow more students to qualify for support and be eligible for greater amounts.

Support for Students and Recent Graduates

Changes to Canada Student Grants and Loans have been introduced so students facing financial challenges from COVID-19 can access and afford post-secondary education. The same applies to student and apprentice loan borrowers.

Supporting international students working in an essential service

The Government of Canada will remove the restriction that allows international students to work only a maximum of 20 hours per week while classes are in session, provided they are working in an essential service or function, such as health care, critical infrastructure, or the supply of food or other critical goods. This temporary rule change will be in place until August 31, 2020.

Canada Emergency Response Benefit

If you have stopped working because of COVID-19, the Canada Emergency Response Benefit (CERB) may provide you with temporary income support. The CERB provides $500 a week for up to 16 weeks.

Canada Student Grants and Loans – Apply with your province or territory

Go to the student grants and loans service of your province to:

  • Find out if you're eligible for student grants and loans

  • Know how much you could get

  • Apply for student grants and loans in one application

If you have any other ideas, please comment below, contact us or comment on our social media.

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