Students in Canada could soon get $150 every month thanks to a new government benefit.
Canadian students may soon receive extra financial assistance as the government introduced a new monthly payment specifically for them.

On Wednesday, Employment and Social Development Canada revealed a new Canada Pension Plan (CPP) benefit intended for part-time students aged 18 to 24 whose parents are either disabled or have passed away.
Starting in 2025, eligible part-time students will receive a monthly payment of $150.89 as part of the broader reforms to the CPP. This amount is half of what full-time students currently receive under the plan. The aim is to offer financial assistance to help cover education expenses that would typically be managed by the student’s disabled or deceased parent.
To qualify for this benefit, students need to be enrolled part-time at an accredited educational institution. Furthermore, the student’s parent must have contributed to the CPP during their working years. Students will also be required to provide evidence of a minimum level of school attendance.
The government anticipates that approximately 6,700 students will gain from this new measure in 2024. This initiative is part of a broader set of changes to the CPP outlined in the 2024 federal budget. Additional updates to the CPP feature new benefits for children of disabled contributors, increased death benefits, and modifications to survivor pensions.
Minister of Seniors Joanne Thompson emphasized, “No child should have to choose between caring for their parents and attending school,” underscoring the government’s commitment to assist young Canadians in managing the increasing cost of living with tangible support.
This extra funding could really make a difference, whether you’re juggling school and a job or just trying to manage your budget more effectively. To find out more about eligibility and the application process, check out the government’s website here.