It’s important to do your research. There are many funding options that are available to help you pay for your post-secondary studies. Good planning will give you good results.
A scholarship is a type of financial aid awarded to students to help pay for their education. Scholarships are typically based on academic merit, financial need, or a combination of both, and are usually provided by schools, organizations, or private individuals. Scholarships do not need to be repaid.
A bursary is a type of financial aid awarded to students to help pay for their education. Bursaries are typically based on financial need, and are often provided by schools, government agencies, or private organizations. Like scholarships, bursaries do not need to be repaid.
A grant is non-repayable financial assistance – money that you will not have to pay back. Like scholarships, grants have specific qualifications and each one is a bit different. Make sure you read the requirements to see if you are eligible. Grants are available for full- and part-time students, students with disabilities, low- and middle-income students, adult upgrading, and more.
If you are a full-time student, enrolled in at least 60% of a full-time course load, you are eligible to apply for a student loan. B.C. offers Canada-B.C. integrated student loans, meaning there are two lenders, the governments of Canada and B.C. and the interest is paid by both governments while you are attending school full-time. Repayment of the student loan will begin six months after your studies end.
If you are studying part-time, you may be eligible for the federal part-time student loan program. It’s important to note that the assessment for part-time students is different than for full-time students and does not cover living costs. It allows for: tuition, books, supplies, transportation and childcare up to the funding maximums.
If you’re a current or former youth in care studying full- or part-time at the undergraduate level, you may be eligible for having the tuition and mandatory fees charged by your institution could be waived so that you do not have to pay.
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