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COVID-19 Canada Emergency Student Benefit

COVID-19 Canada Emergency Student Benefit

By Nizam Shajani, CPA, CA, MBA

Prime Minister Trudeau introduced the Canada Emergency Student Benefit today (CESB).

This subsidy is for students and recent graduates who are ineligible for the Canada Emergency Relief Benefit (CERB) and unable to find full-time employment or unable to work due to COVID-19.

How much?

The CESB will provide $1,250 per month for eligible students from May 2020 through August 2020.  Students with dependents or disabilities will receive $1,750 per month over the same period.

How to apply?

The CESB will be delivered by CRA and likely via the My CRA portal.  We are waiting for more details on the application.

Additional assistance

The government plans to change the Canada Student Loan Program’s eligibility requirements in 2020-2021 to allow more students to qualify for supports and be eligible for greater amounts, including doubling the non-repayable Canada Student Grants for full and part time students.

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