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"PM Trudeau announces $9B in new COVID-19 funding for students"

DannyTS

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"PM Trudeau announces $9B in new COVID-19 funding for students

OTTAWA -- Students and recent graduates who have seen their education and job prospects hampered by the ongoing COVID-19 pandemic will soon be able to claim a new Canada Emergency Student Benefit, Prime Minister Justin Trudeau has announced, as part of a $9 billion package of new measures aimed at helping young people.

The benefit will see eligible postsecondary students receive $1,250 a month from May to August, and if you are taking care of someone else or have a disability, that amount increases to $1,750 monthly.

College and university students currently in school, planning to start in September, or who graduated in December 2019 are eligible."
 

am1

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A lot of money to have to be paid back.
 

Chrisky

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A lot of money to have to be paid back.
I do not believe they have to pay it back. As far as I know the money will be declared as ‘income earned’ when they file their income tax for 2020, just like people who are receiving the CERB.
 

am1

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I do not believe they have to pay it back. As far as I know the money will be declared as ‘income earned’ when they file their income tax for 2020, just like people who are receiving the CERB.
Money always has to be paid back. Not directly by them but higher taxes less services going forward.
 

T-Dot-Traveller

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A lot of money to have to be paid back.
Money always has to be paid back. Not directly by them but higher taxes less services going forward.

While the Canadian Federal government has created this ( pile of newly printed money) for students as a replacement for (likely non existent) summer jobs - effectively it could be construed as funding for the Canadian
college & university system : which is already partially funded by various levels of government .

Colleges and universities have a fairly fixed overhead - if fewer students show up because of personal lack of funds - the fixed costs do not go down (much) .

**********
so this could get 4 birds with one stone .

1 ) colleges and universities remain solvent and do not cut programs needed in future years .

2 ) Students enrolled for Sept. - show up at school ; and don’t add to unemployment figures .

3 ) The investment in education will pay off over the long run - for both the individuals and Canadian society .

4) In a perfect future world - the extra taxes collected off higher dollar earnings of today’s students ; total more than the money spent in 2020.
 
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am1

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Depends if higher education is needed as much as people think. Better to slow down the academic gravy train and send more people to trade schools or apprenticeships.
 

Chrispee

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This program is for post-secondary students which would include college and technical trade students. As a Canadian I’m certainly am not second guessing our comparatively higher taxes that helps to facilitate everybody having healthcare and a financial safety net.
 
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T-Dot-Traveller

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Depends if higher education is needed as much as people think. Better to slow down the academic gravy train and send more people to trade schools or apprenticeships.

Hi am 1 ,
In Ontario some of these trade / apprenticeships fall into the college system .
I know a friend’s son was taking a millwright program through a college .
Fanshawe - Mohawk - Humber all offer this program .
His was at a sub campus of one of these - near to Kincardine ON .
 

am1

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Hi am 1 ,
In Ontario some of these trade / apprenticeships fall into the college system .
I know a friend’s son was taking a millwright program through a college .
Fanshawe - Mohawk - Humber all offer this program .
His was at a sub campus of one of these - near to Kincardine ON .
That’s great. It’s the liberal arts students that is big business for the universities while not really learning anything. I would make higher education more demanding and at the same time cheaper. Even more so for the US where it is profit driven. This virus can serve as a wake up call for people to get their stuff together because who knows what’s next.
 
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