Government of Canada Announces New Canada Pension Plan Benefit for Students
Ottawa, January 8, 2025 – The Government of Canada has announced a new Canada Pension Plan (CPP) benefit for students. The benefit will provide monthly payments of up to $600 to students who are enrolled in post-secondary education.
The new CPP benefit is designed to help students offset the rising cost of education. The average cost of tuition in Canada has increased by 5% each year for the past five years. The new benefit will help to make post-secondary education more affordable for students and their families.
The CPP student benefit will be available to students who are enrolled in full-time or part-time studies at a designated Canadian post-secondary institution. Students must be between the ages of 18 and 25 to be eligible for the benefit.
The benefit will be paid out monthly during the school year. Students will not have to repay the benefit, but it will be taxed as income.
The new CPP student benefit will be phased in over a two-year period. It will be available to students who are enrolled in post-secondary education in the 2025-2026 school year.
The Government of Canada is committed to making post-secondary education more affordable for students and their families. The new CPP student benefit is a significant step towards achieving this goal.
For more information, please contact:
Media Relations Employment and Social Development Canada 819-994-2343 media@hrsdc.gc.ca
Government of Canada announces a new Canada Pension Plan benefit for students
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