4 November 2009
Ottawa, Ontario
Some of the initiatives under Canada's Economic Action Plan include:
- The $2,000 Apprenticeship Completion Grant is available to registered apprentices who successfully complete apprenticeship training and obtain journeyperson certification in a designated Red Seal trade. This program encourages people to complete their training and become certified journeypersons, enhancing their ability to work anywhere in Canada by supporting the Interprovincial Standards Red Seal Program.
- A one-time grant of $15 million paid to the YMCA and YWCA is creating internships for unemployed youth aged 15 to 30 at not-for-profit organizations focussing on environmental projects.
- Additional funding of $20 million is being provided over two years for the Canada Summer Jobs program.
As part of its efforts to make post-secondary education more accessible to students:
- The Government of Canada is investing $350 million in post-secondary education through the new Canada Student Grants Program, offered under the Canada Student Loans Program. Students may qualify for one or more of the Canada Student Grants, including new grants for students from low- and middle-income families, part-time students, students with permanent disabilities and students with dependants. Students are not required to pay the money back.
- The new federal Repayment Assistance Plan will make it easier for student loan borrowers to manage their debt by paying back what they can reasonably afford, based on their family income and family size. Monthly payments will be limited to less than 20 per cent of a borrower's income. No borrower will have a repayment period of more than 15 years or 10 years for borrowers with permanent disabilities. Borrowers with low or no earnings will not need to make loan payments.
- Additional funding of $87.5 million over three years has been provided to temporarily expand the Canada Graduate Scholarships program.
