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The Government of Canada introduced multiple temporary social security and financial aid programs in response to the economic impacts of the COVID-19 pandemic in Canada.The initial CA$82-billion aid package was announced on March 18, 2020 by Justin Trudeau.
The Canada Assistance Plan (CAP) (French: Régime d'assistance publique du Canada) was a financing program created in 1966 by the Pearson government.The CAP consisted of a cost-sharing arrangement between the federal government and provinces, territories and municipalities whereby the federal government would partially fund eligible social programs.
Social programs in Canada (French: programmes sociaux) include all Canadian government programs designed to give assistance to citizens outside of what the market provides. The Canadian social safety net includes a broad spectrum of programs, many of which are run by the provinces and territories .
Provinces can apply to the program for assistance when eligible costs exceed one dollar per capita, [1] at which point the federal government will share 50% of the cost. If the costs exceed $3 per capita this rises to 75%, and when costs reach $5 per capita, the federal government is required to pay 90 per cent of the costs. [2] [3]
The Canadian federal government announced in 2023-24, $94.6 billion to transfer to the provinces and territories through major transfers (Canada Health Transfer, Canada Social Transfer, Equalization and Territorial Formula Financing), direct targeted support and trust funds), a $7 billion increase from the previous year, 2022-23.
Between 1964 and 1995, loans were provided by financial institutions to post-secondary students who were approved to receive financial assistance. The financial institutions also administered the loan repayment process. In return, the Government of Canada guaranteed each Canada Student Loan that was issued, by reimbursing the financial ...
The Ontario Student Assistance Program (OSAP) (French: Régime d'aide financière aux étudiantes et étudiants de l'Ontario (RAFEO)) is a provincial financial aid program that offers grants and loans to help Ontario students pay for their post-secondary education. OSAP determines the amount of money that a student is eligible to receive by ...
The dental plan is managed by Sun Life Financial, [22] under a $747 million contract it signed with the federal government. [23] The management contract is for five years, and can be renewed for an additional five years at its expiry. [23] Its system was designed to process about 500,000 applications for program enrolment each month. [24]