Having trouble paying your tuition? Don’t have time for a job? Good news: there are many scholarships, bursaries, grants and awards that can cover the costs of schooling for you. They are offered by a number of institutions, such as the federal and provincial government, private industry and service organizations, and post-secondary schools. The great thing about grants, bursaries, awards and scholarships is they don’t need to be repaid.
Scholarships are usually awarded based on academic standing or other achievements, including leadership, athletic ability and community service. They can range from $500 to a generous $23,000. There are five kinds of scholarships:
- Admission (or entrance) scholarships: Awarded upon enrolling in a post-secondary institution.
- Renewable scholarships: Can be applied to financial debt yearly, if one maintains good grades.
- National scholarships: Available to students all over the country.
- In-course scholarships: Given after an applicant’s first year of college or university.
- External scholarships: Encompasses scholarships that are granted by organizations other than a school. One should ensure his or her school is approved by the corporation before applying for an external scholarship.
Grants are bestowed according to grades, financial need and academic research projects. One perk about grants is they are offered to as many people who meet the criteria.
Bursaries are presented depending on one’s financial needs. Bursaries tend to be granted to be used in conjunction with other sources of funding, such as student loans, family support and individual earnings.
Awards are given based on academic merit or accomplishments. They are usually small sums of money that can be applied to one’s tuition or book costs.
The following are links to websites where you can apply for scholarships, grants, bursaries and awards:
Remember you can find out about scholarships, bursaries, grants and awards through your post-secondary school, high school counsellor or online. Employers are an alternative source to check; many organizations offer students financial aid, so it’s a good idea to ask if they provide this service.
Going to school doesn’t have to be a financial struggle. There’s financial aid all around; you just have to look for it. There’s no reason to panic about your finances while going to school.