Financial Aid 101: How To Get Help To Get Your Education
Often the hardest part about heading to (or heading back to) school isn’t deciding what to study, it’s figuring out how you’re going to pay for it. Even though higher and continuing education is subsidized in Canada, many students struggle to find the funds to support their post-secondary education.
Not every student is lucky enough to benefit from a Registered Education Savings Plan. Those who’ve been pinching pennies for their tuition (and even those who haven’t) should consider pursuing the following financial aid options:
A scholarship (or grant or fellowship) is a sum of money awarded to a student in order to help pay for their further education. Unlike a loan, which accrues interest and must be paid back, scholarships are considered gifts, though students must meet certain criteria in order to be eligible.
On Scholarships Canada you will find a comprehensive list of external scholarships available for a variety of different programs, however, you can also speak with your admission representative at Beauty Institute Canada to see a current list of the scholarships available internally.
Where scholarships are awarded based on academic achievement, a bursary is granted by an institution based on financial need, though they do not have to be repaid. Bursaries are intended to supplement, rather than replace, a student’s primary source of funding.
Student Line of Credit
A student line of credit gives you access to finds that you can use to pay for school and other related expenses. You can apply for one through your financial institution, and the money is available for you to borrow from as needed. Student lines of credit are not subject to monthly or annual fees, you need only pay the interest on what you borrow.
No Fee Payment Plans
In addition to that stated above, Beauty Institute Canada offers the option of Interest Free Payment Plans in the event that you have no alternate method of funding. All students are eligible for applying for our funding without any credit check and co-signor requirements. For more information please Call us now at 905-674-0100 to speak with your Financial Aid Advisor.