Tips for students coping with financial stress
Many people are experiencing financial stress related to the COVID-19 pandemic, and this pressure can be especially challenging when you are a student who is also trying to keep your studies on track.
Here are some resources for you to support yourself and your household at this difficult time.
- Income assistance
If your income has been negatively affected as a result of COVID-19, the federal government offers emergency financial supports for Canadians, including Employment Insurance, among others. Visit canada.ca/en/department-finance/economic-response-plan.html for more information.
- Student loans
The federal government has changed student loan programs "to allow more students to qualify." Visit canada.ca/en/department-finance/economic-response-plan.html for more information.
- Student scholarships and awards
Learn about financial awards available to George Brown College students and how to apply at georgebrown.ca/apply/financial-aid/awards-and-scholarships.
- OSAP Questions
George Brown employees continue to work remotely to help you with your OSAP applications. If you have OSAP-related questions, please email FinAid@georgebrown.ca or visit georgebrown.ca/apply/financial-aid to learn more.
George Brown in partnership with FoodShare Toronto is offering the Student Emergency Good Food Box program. Visit georgebrown.ca/current-students/services/peerconnect/programs to learn more.
Mortgages: Canada’s big banks are offering mortgage payment relief on a case-by-case basis for Canadians negatively affected by COVID-19. See links on the Canadian Bankers Association website for more details.
Renters: If you can't pay your rent you can apply for emergency assistance from the province. Learn more at ontario.ca/page/apply-emergency-assistance. If you are looking for alternative housing arrangements, there are student-friendly rental options at Places4Students.com.
- Reducing expenses
For tips on how to sort your monthly expenses, see this COVID-19 financial tip sheet prepared by the New School of Finance and Money Management tips from George Brown’s Financial Aid office.
- Legal support
The Student Association provides legal support related to financial and other issues. See the Student Association website for more information and email Bill Reid at firstname.lastname@example.org for consultation and advice.