Financial aid for students is just around the corner, Prime Minister Justin Trudeau announced this morning.
Starting this Friday, May 15, students and recent graduates will be able to apply for the Canada Emergency Student Benefit (CESB), which will provide them with $1250 a month (or $1750 a month to those with a disability or acting as a caretaker) from May to August.
To make the process of applying smoother, Trudeau is urging those who plan to apply but haven’t yet made an account on the Canada Revenue Agency website to do so as soon as possible.
The CESB, which is part of the government’s $9 billion plan for student relief, is available to current post-secondary students, those starting post-secondary in September, and those who graduated in December 2019.
“From the outset, our government has been focused on getting people the help they need as quickly as possible,” Trudeau said.
Trudeau also revealed today more details about a nearly $1 billion regional fund to help businesses affected by the pandemic, including seasonal industries and those in the tourism sector.
The government announced a $962 million Regional Relief and Recovery Fund, which will be split between six regional development agencies: The Atlantic Canada Opportunities Agency, Canada Economic Development for Quebec Regions, FedDev Ontario, FedNor, Western Economic Diversification Canada, and CanNor.
According to Trudeau, these agencies will be set to help business owners with their most pressing needs, such as covering costs and keeping their employees.
“Here’s the bottom line. These organizations understand the economic realities and specific challenges facing both your region and your business,” the prime minister said.
“So if you’re struggling but did not qualify for other programs like the Wage Subsidy or the Emergency Business Account, give them a call. They’re there for you.”
A portion of the Regional Relief and Recovery Fund has been dedicated to the national network of Community Futures Development Corporations, which will specifically target small businesses and rural communities across the country.
More details on the government’s financial aid benefits can be found at canada.ca/en/department-finance/economic-response-plan.