Magnet — Student Work Placement Program

📋 Eligible Entities - Small and medium-sized enterprises (SMEs) operating in Canada - For-profit businesses and corporations - Non-profit organizations - Social enterprises - Employers across all sectors (with some regional variations) Note: Eligibility may vary by province/territory administering the program. Verify with your local economic development office. --- ### 💰 Funding Details - Grant Amount: Up to $7,500 per student placement - Subsidy Coverage: Up to 75% of eligible wage costs - Employer Contribution: Minimum 25% of wage costs (employer's responsibility) - Repayability: Non-repayable grant (funds do not need to be returned) - Placement Duration: Typically 4–16 weeks, depending on program stream - Maximum Per Year: Varies by employer size and program guidelines --- ### 🛠️ Approved Expenses - Student wages/salaries during the work placement period - Benefits (if eligible under program terms) - Employer payroll costs directly tied to the student position Not Eligible: - Training costs unrelated to wage subsidies - Equipment or capital purchases - Administrative overhead --- ### ⚠️ Conditions & Milestones - Student Requirements: Applicant must be enrolled in or recently graduated from an accredited post-secondary institution - Wage Standards: Student must be paid at least minimum wage; prevailing wage rates may apply in some sectors - Job Description: Position must be a genuine work placement with learning outcomes aligned to student's studies - Reporting: Employer must submit wage records and completion documentation to claim the subsidy - Timeline: Application must be submitted before the placement begins; retroactive claims typically not permitted - Compliance: Employer must maintain compliance with employment standards and labour legislation - Grant Clawback Risk: False claims or non-compliance may result in fund recovery