Mr. Speaker, I would like to begin by acknowledging my constituents in Ottawa—Vanier, who have stayed in touch with me since the beginning of this crisis and shared their ideas and concerns. It is truly by working together in our community that we can support Canadians and especially those in my riding, Ottawa—Vanier.
I am also grateful to be able to address the House on COVID-19 and the supplementary measures we are taking to further help Canadians throughout this unprecedented situation.
During these extraordinary times, the realities of the job market change every day. The government continues to look for ways to offer programs and support that work for all Canadians, including students and young people, as we deal with this pandemic.
Through the Canada emergency response benefit, the government has created a financial aid package to support Canadians in these unprecedented circumstances. This benefit provides Canadians who are no longer working because of the COVID-19 pandemic and those whose hours have been considerably reduced an amount of $2,000 every four weeks for up to 16 weeks.
Over 1.9 million applications have been processed to date under EI and the Canada emergency response benefit. These numbers are simply incredible and give us an idea of the number of people who are financially impacted by this pandemic. However, the government realized that certain Canadians were falling through the cracks and were not eligible to get the help they needed with the existing CERB criteria. This is why today we are proposing to take the next step in our approach to supporting all Canadians who need it most during this pandemic.
It is now time to look more closely at the situation of Canadian students, because they need specific help and support. Right now, as they are self-isolating like everyone else in the country, many Canadian post-secondary students are left wondering how they are going to provide for themselves. Even students from the University of Ottawa and La Cité Collégiale in my riding have been reaching out to find out how we will support them.
Whereas they would usually ask their parents for help, they now have to face the harsh reality that mom and dad are probably having a hard time meeting their own needs during this crisis.
Some students are eligible for the Canada emergency response benefit. Students who earned less than $5,000 in the past year and those who were working but lost their jobs because of COVID-19 are eligible, but many other students are not. More than one million post-secondary students may not be eligible for the COVID-19 CERB.
Students are facing some serious problems. Their studies have been interrupted, they have fewer job opportunities, and all of their co-op, internship and community service opportunities are up in the air. As a result, young people are worried and wondering what to do.
The government wants to make sure that young people know they matter and that we are there for them in these difficult times. That is why we are proposing this complementary bill to the Government of Canada's COVID-19 economic response plan, which already commits $146 billion in direct support for Canadians and businesses through these unprecedented times. It is the next logical step.
Our comprehensive package of measures for students will allow the government to implement a range of measures designed to help three broad groups of young people: students, job seekers and youth looking for service opportunities. As the Minister of Employment, Workforce Development and Disability Inclusion previously explained in more detail, the Canada emergency student benefit is the largest piece of the framework. It will provide immediate help to support students right across the country.
In a nutshell, it would provide $1,250 a month, from May to August, to post-secondary students and recent graduates who cannot find summer employment due to COVID-19. Students who care for dependants or have a disability would receive an additional $500 a month for a total of $1,750 a month. High school graduates entering post-secondary education would also be eligible. The government expects that more than one million students and recent graduates would benefit from this financial support.
To help students with fall tuition, the Canada student loans program would double student grants, lower expected contributions and expand eligibility for student loans and grants. This would be in addition to the six-month interest moratorium on repayment of student loans. All student loan borrowers automatically had their repayments suspended until September 30, 2020. No payment is required and interest will not accrue during this time. All of these measures will make students' lives a little less stressful during these difficult times.
Since our government rolled out the CERB, questions have been asked in the public sphere regarding the concept of a national universal basic income. We are listening. These questions deserve to be properly considered and debated in due course, but now is not the time.
From the beginning of this crisis, we have had to adapt to the changing reality of the pandemic. Given the urgency of the situation, the government had to act quickly, very quickly. Millions of Canadians needed financial assistance so they could pay their rent, buy groceries and support their families. Fortunately, many Canadians are still getting a paycheque and do not need emergency funds to pay the bills.
However, we needed to provide support quickly for those who needed it, and our biggest priority was making sure that the help got to those who needed it the most. This being the end of April and the beginning of May, now is the time when post-secondary studies and school terms end and when students are looking for summer jobs. Of course, that is not going to happen as easily this year, and these students might not be eligible to apply for the CERB. That is why we require Parliament's approval to move forward with the Canada emergency student benefit, which is the next logical step to help more Canadians in need to get through this pandemic.
By tabling Bill C-15, our government is telling Canadian students that they are important, that their plans for the future are important, and that we are here to help them and support them. We are all in the same boat, and we remain committed to helping all Canadians in these difficult times.