Full story: Student union leaders react to federal budget
- The Canada First Research Excellence Fund promises to invest up to $200 million each year, over 10 years, in Canada’s strongest areas of research, funding jobs, equipment, and international connections. The fund aims to spend $50 million in the 2015-16 school year and then expand over the next decade.
- Research granting agencies like the Natural Sciences and Engineering Research Council will receive $46 million more annually to support full-time internships. In addition, $40 million in funding for internships in high-demand science and engineering fields will aim to create up to 3,000 full-time internships.
- Interns aren’t the only ones getting extra funding. Apprentices in Red Seal trades, those which can be practiced anywhere in Canada where the trade is designated without having to write further examinations, will now find more than $100 million in interest-free loans each year through the Canada Apprentice Loan. The Flexibility and Innovation in Apprenticeship Technical Training program will also explore more innovative approaches in technical training for apprentices.
- Since 1995, the exemption limit in student loan applications for ownership of vehicles has been $5,000. As of 2014, ownership of a vehicle will no longer be a factor in student loan eligibility consideration. This change will affect over 19,000 students applying for loans.
- The Canada Accelerator and Incubator Program will receive an extra $40 million over the next four years to help entrepreneurs develop their businesses through mentoring and funding.
—Source: Economic Action Plan 2014
