OTTAWA, ON / ACCESSWIRE / March 18, 2020 / Today, the federal government unveiled its economic stimulus package to respond to the COVID-19 crisis. While COVID-19 is spreading, impacting the economy, and changing how students are completing their studies all across the country, the Canadian Alliance of Student Associations is pleased that today’s announcement includes relief for students and recent graduates entering into a tough economy.
Today’s stimulus package will help 1 million students across the country get through these difficult times by putting an interest free pause on student loan payments until September 2020. The average student loan borrower will save $160 a month. The federal government has also extended the deadline to file taxes until June 1st, 2020 which will provide students with additional time to file their taxes and claim their tuition tax credits.
“COVID-19 is changing the post-secondary landscape on a daily basis right now,” said Adam Brown, Chair of the Canadian Alliance of Student Associations. “This pause on student loan payments is much needed relief for Canadian students and recent graduates as many will struggle to maintain their current income levels and even more will struggle to find work in the months ahead.”
In recent weeks, the post-secondary landscape has been rocked by the COVID-19 crisis as post-secondary institutions all across the country closed their doors and moved learning online.
“We urge all students to practice social distancing and try to focus on the end of term, as hard as that may be,” urged Adam Brown. “We will continue to work with the federal government to ensure that students in Canada will be adequately supported through this crisis.”
Communications and Public Relations Officer
SOURCE: Canadian Alliance of Student Associations
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