COVID19 relief: Seniors get $500 (maybe), while foreign students receive $8,000

COVID relief: Seniors get $500 (maybe), foreign students get $8,000

Two months into the pandemic lockdown, and nearly three weeks after a massive ongoing aid package was announced for foreign students, Canadian seniors are getting a one-time payment of up to $500 in Federal government pandemic income support.

The announcement of the new benefit came during the Trudeau morning show press conference today, outside of Trudeau’s self-imposed isolation facility, Rideau Cottage.

CTV News reports:

Any senior who is eligible for the Old Age Security (OAS) pension will receive a $300 payment, and an additional $200 is being sent to seniors eligible for the Guaranteed Income Supplement (GIS). The federal government estimates there are currently 6.7 million seniors who are eligible for the OAS pension and 2.2 million who are eligible for the GIS.

Foreign students, including Chinese nationals, will receive up to 16 weekly payments from the newly created Canada Emergency Student Benefit of $500 as part of a $9 billion bailout to post-secondary students during the COVID lockdown.

The slate of new aid directed at post-secondary students includes doubling of student grants for the next academic year to $6,000, adding almost $2 billion to the Canada Student Loans Program, setting aside an additional $75 million for Indigenous post-secondary students.