There are ways to trim a budget and save a few dollars, but at the end of the day, a person’s basic needs must be met. Food and shelter are at the top of the list. This need was partially addressed through federal relief measures including the Canada Emergency Response Benefit (CERB), and again in a collective announcement by the six big Canadian banks, which promised new mortgage deferral options and more.
Unfortunately, many Canadians still aren’t making ends meet—and what options exist for those who don’t own their home but, instead, rent?
Many tenants are in financial distress, as are landlords who rely on rental income to survive…
The COVID-19 pandemic has been stressful for people all over Canada, especially concerning finances. The Canadian government has taken action within the COVID-19 Economic Response Plan and continues to respond with further initiatives.
Groups like students, for example, were initially thought to have fallen through the cracks financially, as they are in a unique position. During this economic downturn, many students aren’t eligible for the Canada Emergency Response Benefit (CERB) if they haven’t been working, but many still have expenses. Recent amendments to the government’s response plan have addressed some of those concerns.
Take a closer look at what financial and social assistance is available for students across Canada.
Government Support for Students
Canada’s COVID-19 Economic Response Plan outlines these areas of assistance for students:
Canada Summer Jobs Program
Emergency Benefit for Students
Canada Student Service Grant
Canada Student Grants
Students may qualify for the CERB if they meet the following criteria:
Live in Canada
Are at least 15 years of age
Are without work for 14 consecutive days, or expect to be
Have stopped working as a result of COVID-19 or are eligible for regular EI or sickness benefits
Have not voluntarily quit working
Have had a minimum income of $5,000 in 2019 or the past 12 months before the date of application
Are currently earning no more than $1,000 from other employment
Have exhausted regular EI benefits and are unable to find a job because of COVID-19
The CERB provides individuals with a temporary income of $500 a week for up to 16 weeks…