Where Do I Get the Money to Pay for School?
The best sources for post-secondary funding are the ones you do not need to pay back. These come from contributions from you parents and other relatives, money you made working part-time, as well as grants, bursaries and scholarships.
GRANTS & BURSARIES. Since the latter months of 2009, federal grants are provided under a single program, the Canada Student Grant Program (CSGP), to students with financial need. These grants are available to Canadian students in most provinces, except for Northwest Territories, Nunavut and Quebec which offer their own financial assistance programs.
The other provinces and territories also offer their own grant and bursary programs. Contact the student financial assistance office of your province/territory of residence to find out more (see Provincial Student Loans for details).
Note: You must apply for a Canada Student Loan to be considered eligible, based on your financial need, for a Canada Student Grant. Grants do not have to be paid back, and you may be eligible for more than one grant simultaneously.
SCHOLARSHIPS. This type of funding is based on merit, rather than financial need. You can find available scholarships, as well the information and services you need to make financial decisions about your studies, through CanLearn’s Scholarship Search.
The CanLearn site was developed by the Department of Human Resources and Skills Development Canada in collaboration with provincial and territorial governments and Canadian learning and career development organizations.
Below are some more links that we feel will provide valuable resources and tools to help you find scholarships, student awards, bursaries and grants.
LOANS. Only after tapping the above resources should you look into student loans. Federal, provincial and territorial governments offer student loan programs. Private institutions - banks, trust companies, and credit unions - offer loans if you do not qualify for government loans.
Note: Loans will not cover all of your post-educational expenses, so you will be expected to contribute some money. In addition, loans must be paid back in full (usually after graduation).
Contact your Student Financial Assistance Office for more information and applications (see Provincial Student Loans for details).
|
