If you’ve recently graduated, you know the struggle of trying to find a full-time gig with a decent salary. The struggle is so real, many recent grads end up getting one or even two part time jobs at Starbucks or the mall just to get by.
The federal budget rollout Monday brought with it sweet sweet reprieve for those owing OSAP who just can’t seem to get into the full-time job market. Going forward, students won’t have to make loan payments until they’re earning at least $25,000 annually. All student loans aren’t absolved as we were all hoping they would, but this eases the pressure for some. And if you’re struggling to find a job but still have to worry about your payments, take a second to breathe a giant sigh of relief.
The government will also make interest payments on your behalf so your loan doesn’t get even bigger as you look for a job.
For those still in school, Canada Student Grants will also increase 50% from $2,000 to $3,000 per year for low-income students. For students from middle-income families the amount will increase to $1,200 from $800 and will jump to $1,800 from $1,200 for part-time students.
The budget also outlined plans to support young Canadians by doubling the size of the Canada Summer Jobs program and enhancing the Youth Employment Strategy. Funding will also go to building a new framework that supports union-based apprenticeship programs.
This is huge for students and recent grads across the country but especially so for those living in Brampton where full-time work is hard to come by without having to leave the city.