OTTAWA,
ON, April 16, 2024 /CNW/ - Today, Finance
Minister Chrystia Freeland released
the 2024 federal budget. This budget is a clear and intentional
step forward for supporting post-secondary students, across the
country, as well as a direct reflection of many concerns brought
forward by the Canadian Alliance of Student Associations (CASA) and
the The Union étudiante du Québec (UEQ) during their pre-budget
advocacy.
For the past 10 years, shared concern about student finances
between CASA and the federal government has led to massive
extensions in funding for education of students from low-income
families, as well as measures such as last year's commitment to
interest-free status on federal student loans. Students are also
pleased to see the extension of the Canada Student Grants from
$3000 to $4200 for the year 2024-2025, the interest-free
Canada Student Loans from $210 to
$300 per week, and eligibility
improvements to the Canada Learning Bond. Additionally, the
permanent elimination of the credit screening requirement for
mature students applying for Canada Student Grants and Loans for
the first time creates opportunity for mature students to get into
post-secondary. Indigenous students across the country also
celebrate the investment of $242.7
million over 3 years starting in 2024-2025 to maintain
access to post-secondary education through the Post-Secondary
Student Support Program, consistent with Call to Action 11 of the
Truth and Reconciliation Commission.
Housing has consistently been identified as a number one
priority for most post-secondary students across the country.
Today's Budget investment in on and off campus housing through the
Housing Accelerator fund, additional funding to the Apartment Loan
Construction Program and the removal of GST on new student
residences will incentivize Canada's educational institutions to build
more student housing for domestic and international students,
increasing student and consumer power in the housing market. In
addition, the modernization of the shelter calculations for student
aid will provide accuracy and more funding in Canadian students'
pockets.
Furthermore, Budget 2024 announces an investment of $825 million over five years, starting in
2024-25, with $199.8 million per year
ongoing, to increase the annual value of master's and doctoral
student scholarships as well as post-doctoral fellowships. This
will also increase the number of research scholarships and
fellowships provided, building to approximately 1,720 more graduate
students or fellows benefiting each year. Additionally, CASA
welcomes an investment of $1.8
billion in core research funding over five years to SSHRC,
NSERC and CIHR. After more than 20 years, graduate students and
post-doctoral students celebrate the impact this announcement will
have on Canadian productivity and researchers' ability to tackle
problems for decades to come. .
The Canadian Alliance of Student Associations remains committed
to working with the federal government on any measures that can
benefit Canadian students, as well as implementing those announced
today. Today's announcement signals interest in the student voice,
and CASA looks forward to future co-operation by continuing to
share the concerns and needs of Canada's post-secondary students.
Quotes:
"Today students are celebrating the investments in Budget 2024.
We are pleased to see the holistic approach of the government to
ensure generational fairness through post-secondary education.
Supporting post-secondary education financially means you are
setting up the next generation of Canada's workforce for success."
- Sadie McAlear, Chair of CASA
"The Quebec Student Union has been alerting the Government of
Canada for several years of the
deterioration of university research caused by insufficient
financial assistance for our student researchers. We welcome that
the government has put an end to the hemorrhage and we will
continue to advocate for a permanent solution to address increased
cost-of-living for our student researchers."
- Catherine Bibeau-Lorrain, President of UEQ
About CASA
Established in 1995, the Canadian Alliance of Student
Associations is a non-partisan, not-for-profit national student
organization composed of 25 student associations across the
country. Through our partnership with the Quebec Student
Union/Union étudiante du Québec, CASA represents 365,000
post-secondary students across Canada.
About UEQ
The Union étudiante du Québec (UEQ) represents 100 000 students
from 11 student associations across Quebec. The UEQ's mission is to defend the
rights and interests of the student community, its members
associations, and of their members, by promoting, protecting, and
improving the conditions of students and those of local and
international communities.
SOURCE Canadian Alliance of Student Associations