Magnet, a Toronto Metropolitan University-based centre for innovation, welcomed the federal government’s decision to extend funding for the Student Work Placement Program with $635.2 million over three years.
The renewed investment will provide 55,000 new work-integrated learning opportunities for post-secondary students starting in 2026-27. The funding commitment was announced in this week’s federal budget.
Mark Patterson, executive director of Magnet, said the program served as a lifeline during the COVID-19 pandemic by allowing employers to continue hiring new talent and maintain productivity.
“As new disruptions loom, SWPP remains a proven model for building a resilient and skilled workforce in Canada and for supporting its small businesses,” Patterson said.
Magnet’s role as delivery partner
Magnet has served as a program delivery partner since 2019, facilitating 42,000 student placements across Canada. Half of those placements went to students from underrepresented groups, according to the organization.
The program offers employers wage subsidies of up to $7,000 when they hire eligible post-secondary students for work placements. Since launching in 2017, the program has created more than 250,000 work-integrated learning placements across Canada.
Strong employer satisfaction
Participant surveys indicate strong results from the program. According to the surveys, 99.7 per cent of employers said the work placement benefited their company, and each hire created an additional $400 in value per month for their employer.
Nearly 79 per cent of employers said they would consider hiring the student for future employment. Among students, 94.4 per cent reported satisfaction with their work placement experience.
Employers can apply now for the Fall 2025 term through the program, which is delivered by Employment and Social Development Canada.
