Federal Budget Includes Funding for Research, Internships, Training

Feb 17, 2014 by

Source: Government of Canada Release | February 11, 2014

Canada’s 2014 federal budget tabled on Tuesday includes a new Canada First Research Excellence Fund, which will provide $1.5 billion over 10 years for university research, starting with $50 million in 2015-16. Universities and PSE associations from across the country are welcoming the new funding. The budget also pledges an increase of $46 million annually to research granting agencies such as the Natural Sciences and Engineering Research Council, and $40 million to support up to 3,000 full-time internships for PSE graduates in high-demand fields. The Canadian Alliance of Student Associations (CASA) is applauding the budget measure that will see the value of a student-owned vehicle removed from the student loan eligibility consideration, which will add an estimated $8 million in aid for students each year. The budget also includes a Canada Apprentice Loan that provides apprentices registered in Red Seal trades access to over $100 million in interest-free loans each year, and the Flexibility and Innovation in Apprenticeship Technical Training pilot project that will expand the use of innovative approaches for apprenticeship technical training. The government has also pledged $10 million over 2 years for colleges to do social-innovation research with community organizations.

TCS Insights: The Canadian government has ensured that post-secondary institutions will have the opportunity to make significant strides for years to come. Students entering Canadian educational facilities, from abroad or domestically, will be able to benefit from increased financial aid as well as funding for research grants and apprenticeships.