April 22, 2020 Department of Finance Canada
Backgrounder
The Government of Canada recognizes that students and recent graduates are being significantly affected by the economic impacts of the COVID-19 pandemic. In March 2020, the number of post-secondary working students, aged 15-29, dropped by 28% from February 2020.
As many post-secondary students adapt to the new reality brought on by COVID-19, they are concerned about the effect of the pandemic on their ability to continue their studies, secure and retain summer employment, pay their bills, and save for tuition in the fall. Additionally, students who are about to graduate might struggle to find employment in their field of study, which may in turn, have a negative impact on the value of their education over the long term.
The government has announced a series of measures as part of its COVID-19 Emergency Response Plan that will help Canadian students and recent graduates overcome these challenges and support their future success. These represent an investment of approximately $9 billion.