We know this is a challenging time, and many students and families have been affected by the COVID-19 pandemic.
The information below outlines financial supports available. If you would like help developing a financial plan for this coming year or you have general questions, please contact a Financial Aid Counsellor.
If you are experiencing financial hardship, please contact a Financial Aid Counsellor.
Students enrolled in eligible programs can apply for student loans to help pay for their post-secondary education. To support students during the COVID-19 pandemic, the federal government has recently announced an increase in grant funding (non-repayable), as well as an increase in the amount of loan funding for the 2020/21 school year. See Government of Canada website for more details.
Canadian Government Support Programs
Both federal and provincial governments have programs in place to support students in a variety of ways, including emergency grants and summer employment opportunities.
The information below outlines federal and provincial financial support for students and families to help navigate the impact of COVID-19.
Canadian Emergency Student Benefit (CESB) - Provides temporary financial support from May to August for high school graduates, post-secondary students, and recent graduates. Available to Canadian citizens, permanent residents, protected persons, and those persons registered under the Indian Act.
B.C. Emergency Benefit for Workers - Residents of British Columbia may be eligible for a one time $1,000 payment to those whose ability to work has been affected due to COVID-19.
Canada Emergency Relief Benefit (CERB) - Provides temporary financial support for eligible workers who have stopped working due to COVID-19. The CERB provides a taxable benefit of $2,000 every 4 weeks, up to 16 weeks.
Canada Student Loan and Grant Program Enhancement - Eligibility for student financial assistance will be broadened, as well as increased levels of funding for loans and grants. This will in place for 2020-21 only.
Student Loan Repayment Deferral - All Canadian student loan borrowers will automatically have their loan repayments and interest suspended until September 30, 2020.
Canada Student Service Grant (New Program) - Provides financial support up to $5,000 to eligible post-secondary students for volunteering at Canadian not-for-profits during summer 2020.
Canada Child Benefit - The government is providing up to an extra $300 per child through the Canada Child Benefit (CCB) for 2019-20. This benefit will be delivered as part of the scheduled CCB payment in May; no action is required for those already receiving the CCB.
International Student Work Hours Extension for Essential Services - The restriction that allows international students to work a maximum of 20 hours a week while classes are in session has been lifted, provided that students are working in an essential service or function such as health care, critical infrastructure, or supply of food