The Government of Canada unveiled the 2024 federal budget yesterday, April 16.

Memorial University welcomes increased support for both undergraduate and graduate students and enhanced investment in research funding.

Of particular note, increasing the number and value of Canadian graduate student scholarships and post-doctoral fellowships will help students gain advanced skills in their area of study while addressing the challenging and complex issues facing our society.

Investments in student financial assistance, including increased grants and loans, expanding the reach of the Canada Student Loan Forgiveness Program and updating the housing cost formula used to determine financial aid, will help current and future students access post-secondary education.

The budget also includes funding for paid work experience for post-secondary students in their area of study; investment in youth mental health; support for young entrepreneurs; and multiple initiatives to address housing challenges.

“Memorial University welcomes the breadth of measures included in the 2024 federal budget that impact universities,” said President Neil Bose. “Investing in students and research is the key to building a future that is just, resilient and responsive to the challenges and opportunities that Canadians face.”

More details about the budget are available online.

The university will now focus on analyzing the impact and opportunities arising from the 2024 federal budget.