Category: Finance

  • October 2024 Scholarships – Apply now!

    October 2024 Scholarships – Apply now!

    Maryknoll Scholarships
    Scholarship Value: $1,000
    Awards Available: 6
    Award Deadline: November 18, 2024

     

    Seymour Schulich Scholarships and Awards
    Scholarship Value: $15,180
    Awards Available: 24
    Award Deadline: December 1, 2024

     

    Ontario Road Builders’ Association Civil Engineering Scholarships
    Scholarship Value: $2,000
    Awards Available: 2
    Award Deadline: December 5, 2024

     

    Bank of Montreal Award
    Scholarship Value: $72,000
    Awards Available: 5
    Award Deadline: December 8, 2024

     

    Dr. Iris May Marsh Memorial Award
    Scholarship Value: $48,000
    Awards Available: 5
    Award Deadline: December 8, 2024

     

    Queen’s University Chancellor’s Scholarship
    Scholarship Value: $48,000
    Awards Available: 50
    Award Deadline: December 8, 2024

     

    Jean Caya Scholarship
    Scholarship Value: $1,200
    Awards Available: 2
    Award Deadline: January 31, 2025 (estimated)

     

    CIBC National Scholarship
    Scholarship Value: $25,000
    Awards Available: 1
    Award Deadline: February 14, 2025

     

    John Proctor Scholarship
    Scholarship Value: $8,000
    Awards Available: 1
    Award Deadline: February 15, 2025

     

    Wilfrid Laurier University Chancellor’s Scholarship Fund
    Scholarship Value: $5,000
    Awards Available: 2
    Award Deadline: March 1, 2025

     

    Jean Chretien Scholarship
    Scholarship Value: $5,000
    Awards Available: 5
    Award Deadline: March 31, 2025

     

    Western Continuing Admission Scholarship of Excellence for Black Students
    Scholarship Value: $6,000
    Awards Available: 30
    Award Deadline: Ongoing

     

    Western Continuing Admission Scholarship of Excellence for Indigenous Students
    Scholarship Value: $6,000
    Awards Available: 30
    Award Deadline: Ongoing

  • Common Mistakes that College/University Students Make with Money

    Common Mistakes that College/University Students Make with Money

    Your post-graduation life will largely be about paying off the debts you accumulated while in school. Avoid these very common financial mistakes to make your life in the ‘real world’ less of a strain:

    The credit card hole…

    Sometimes credit can seem like an easy way to fix your problems or get what you want quickly. But the truth is that adding to the already massive student loan debt you are accumulating will weigh down your ability for success, your credit rating and your freedom. That is a lot of stress and debt to have on your back before you land a real job. Credit cards are a good thing if you are able to pay off the balance and create a strong credit history. But do not allow yourself to fall into the minimum payment cycle and subsequent interest hole.

    Not budgeting your student loan funds…

    Never forget that your student loan is for the essentials: tuition, books, transit and living expenses. Make sure that upon receiving the loan you take the time to hash out how much your year is going to cost and how much you have to spend on the different facets of your life. Many people get over excited when a large sum suddenly appears in their bank account. But university is extremely expensive, and the money is never as much as you think it is. Be careful and keep your receipts and a list of your expenses at all times. Be in control of your debt.

    Failure to meet with academic advisors…

    Academic advisors are detrimental to your success in post-secondary. It is important to see them regularly from before you actually begin school to your very last weeks as a student. It is their job to help you sign up for the correct courses, ensuring that you do not take any courses that will not count towards your degree or ones that will slow down the graduating process. Oftentimes, failing to meet with an academic advisor can result in the loss of thousands of dollars and time. For instance, if you miss a required class, it can entirely throw you off the correct track to graduate at the time you wish.

    Playing around with ‘drop dates’…

    Do not forget about the deadlines for dropping classes. If you wait until after the drop date you are waving goodbye to hundreds of dollars rather than receiving a full reimbursement. Remember that taking classes seriously means taking your money seriously. Without commitment you may receive a grade that will not count towards your degree and that is simply a huge waste of time and money.

    Ignoring scholarship opportunities…

    There is SO much free money out there. Apply for as many scholarships as possible and chances are you will get at least a few small ones. Set time aside to write letters of intent and have your resume ready and you could easily have a semester paid off. Speak to academic advisors about this, actively use university search engines and speak to your family and about work and organizations they may be involved with that provide scholarships.

  • Indigenous Student Scholarships for May 2024

    Indigenous Student Scholarships for May 2024

    Electro-Federation Scholarships for Indigenous Students
    Scholarship Value: $3,500
    Awards Available: 10
    Award Deadline: June 7, 2024

     

    Four Directions Scholarship
    Scholarship Value: $1,000
    Awards Available: 4
    Award Deadline: June 28, 2024

     

    Eaton – Indigenous Clean Energy Scholarship: Summer 2024
    Scholarship Value: $5,000
    Awards Available: 1
    Award Deadline: June 30, 2024

     

    Awards for Indigenous Students
    Scholarship Value: $2,000
    Awards Available: N/A
    Award Deadline: August 31, 2024

     

    Indspire’s Building Brighter Futures
    Award Deadlines: July 1, 2024; August 1, 2024; November 1, 2024

     

    Additional Resources

    Electro Federation Canada Scholarships for Indigenous Students

    Indigenous Bursaries Search Tool

    Métis Student Bursary Program

    MNO Major Targeted Bursaries

    Other Scholarships and Bursaries

  • May 2024 Scholarships – Apply now!

    May 2024 Scholarships – Apply now!

    Canada’s Luckiest Student 2024
    Scholarship Value: $50,000
    Awards Available: 1
    Award Deadline: May 31, 2024

     

    University of New Brunswick: Win Free Tuition for 2024
    Scholarship Value: $10,400
    Awards Available: 1
    Award Deadline: June 1, 2024

     

    Electro-Federation Scholarships for Indigenous Students
    Scholarship Value: $3,500
    Awards Available: 10
    Award Deadline: June 7, 2024

     

    Electro-Federation Scholarships for Women
    Scholarship Value: $3,500
    Awards Available: 13
    Award Deadline: June 7, 2024

     

    Brian Maxwell Memorial Scholarship
    Scholarship Value: $5,000
    Awards Available: 6
    Award Deadline: June 10, 2024

     

    Nicole LeClair Wedding Bursary Award
    Scholarship Value: $2,000
    Awards Available: 4
    Award Deadline: June 30, 2024

     

    Algonquin College Tuition Contest
    Scholarship Value: $5,000
    Awards Available: 1
    Award Deadline: July 30, 2024

     

    DCCI Scholarship for Canadian Students with Disabilities
    Scholarship Value: $1,000
    Awards Available: 1
    Award Deadline: July 31, 2024

     

    Western Continuing Admission Scholarship of Excellence for Black Students
    Scholarship Value: $6,000
    Awards Available: 30
    Award Deadline: Ongoing

     

    Western Continuing Admission Scholarship of Excellence for Indigenous Students
    Scholarship Value: $6,000
    Awards Available: 30
    Award Deadline: Ongoing

  • A Guide to Scholarships and Aid for Career College Students

    A Guide to Scholarships and Aid for Career College Students

    Navigating the world of financial aid can seem like an overwhelming task, especially when you’re eager to start your career education journey. However, understanding the scholarships and financial support available can make all the difference. Let’s dive into the financial options specifically tailored for students at career colleges.

    First things first: What kinds of financial aid can you tap into? From loans and grants to scholarships and bursaries, there are various ways to fund your education. For instance, many students at career colleges in Canada benefit from programs like the Ontario Student Assistance Program (OSAP) which provides tailored financial support​ (CTS Career College)​.

    Did you know many career colleges offer unique scholarships just for their students? These scholarships might be based on academic achievements, financial need, or specific career interests. For example, CTS Canadian Career College provides a range of scholarships and an interest-free payment plan, making education more accessible​​.

    Applying for scholarships might seem daunting, but it’s easier than you think! Start by visiting websites like Scholarships Canada, where you can filter scholarships that are relevant to career college students. In BC, Vancouver Career College offers a number of financial options for students. Always check the eligibility criteria carefully and gather all necessary documents before the deadline​​.

    A little bit of planning can go a long way. When you budget for college, consider all your potential income sources, including scholarships, part-time work, and family contributions. Discuss your options with a financial aid officer at your college—they’re there to help you plan your education funding smoothly.

    Need some inspiration? Many students before you have successfully navigated the maze of financial aid to achieve their educational goals. These stories not only inspire but also show practical ways students have leveraged financial aid to minimize their educational expenses.

    Exploring financial aid options is crucial for any student stepping into the world of career education. With the right information and a bit of strategic planning, you can unlock numerous opportunities to fund your studies. Remember, the earlier you start your search and application process, the better prepared you’ll be. So, dive in, explore your options, and take control of your educational journey today!

  • A Brief Look at the State of Canadian Undergraduate Tuition Fees

    A Brief Look at the State of Canadian Undergraduate Tuition Fees

    By Jacob Aron Leung

    When it comes to choosing a post-secondary institution to attend, there are many factors. Many students consider if the place offers a program they’re interested in, certain specializations the school excels at, and what kind of reputation it has. One of the biggest factors, however, comes from the question about tuition: how much does it cost for their studies?

    Most Expensive Programs 

    During the 2022/2023 academic year, domestic full-time undergraduate students studying these six degree programs spent the most on tuition:

    • Dentistry ($23,963)
    • Medicine ($15,182)
    • Veterinary medicine ($14,828)
    • Law ($13,222)
    • Pharmacy ($12,291)
    • Optometry ($10,389)

    This ranking remained almost the same from the previous year. The only difference was that pharmacy surpassed optometry, compared to when their 2022/2023 tuition fees cost $11,133 and $11,235 respectively. Full-time undergraduate students paid an overall average of $6,834 in 2022/2023.

    For medicine, dentistry, and law, their status as expensive programs is not new. A 2005 Statistics Canada study found that tuition fees from the 1995-1996 to 2001-2002 academic years disclosed major undergraduate tuition raises in these programs compared to the 34 per cent increase in “all undergraduate disciplines”:

    • Dentistry: up 168 per cent
    • Medicine: up 132 per cent
    • Law: up 61 per cent

    Costs Trying to Adjust for Inflation

    While tuition depends on many variables like the type of program (certificate, diploma, associate degree, bachelor’s degree, master’s degree, etc.), numbers from Statistics Canada from 2022 indicates that costs living as a student increased across the board. Costs of rent and groceries have especially impacted students.

    To account for this widespread inflation, average domestic undergraduate tuition costs started declining from 2020 onwards. In 2020, the average fees cost $6,801, and by 2022, they were $6,436. This proved minimal and short-lived, as for Statistics Canada’s projections for 2022/2023, those numbers rose again to $7,076.

    International Student Fees 

    All the numbers so far only account for domestic students. According to the Canadian Bureau for International Education, 1,040,985 international students studied in the country by the end of 2023. Data from 2019-2024 shows that international undergraduate students pay at least four times the tuition fees than their domestic counterparts. By 2024, that number shows more than five times the price domestic students pay:

    2019/2020 academic year:

    • $6,468 (domestic undergraduate fees)
    • $29,883 (international undergraduate fees)

    2023/2024 academic year:

    • $7,076 (domestic undergraduate fees)
    • $38,081 (international undergraduate fees)

    Unlike the dip domestic students saw in their tuition fees during the early COVID years, international student fees continued to increase. While domestic undergraduate students over the past few years have seen increases up to three per cent, international undergraduate students have seen increases up to eight per cent. With the Canadian Government set to issue only 360,000 international student study permits this year — a 35 per cent decrease compared to 2023 — trying to study in Canada as an international student has only gotten harder.

  • Tips for Finding Out Post-Secondary School Student Services

    Tips for Finding Out Post-Secondary School Student Services

    By Jacob Aron Leung

    For many new students, going to post-secondary can be overwhelming. A whole new school means lots of opportunities to meet people and learn new things. One other thing that new students benefit from is the number of services that many schools offer.

    However, without looking, many students may not know what their schools provide. Whether you’re a new student stepping on campus for the first time, or a seasoned student looking to explore their school more, here are some tips for getting the most out of your school services.

    Financial Services

    Post-secondary institutions have financial services to help students pay for the multitude of expenses that life brings during schooling. These offerings include:

    • Help for sudden financial emergencies, such as changes in living situations, food security, and other unforeseen circumstances
    • Bursaries — monetary rewards granted to students displaying a financial need.
    • Scholarships — monetary rewards granted to students, usually for displaying community or academic accomplishments. Some scholarships are based on financial need, but not all of them.

    Be sure to check the requirements for bursaries and scholarships because they all require different criteria. Bursaries usually require applications because of the financial record aspect, and they may apply to a certain demographic within their institution. While many scholarships do require proof of eligibility, they may not require an application depending on the circumstances. For example, the University of Victoria lists in-course scholarships and awards that do not require manual applications. The government of Ontario has a list of financial aid offices across their province’s public colleges and universities here.

    Counselling and Health Services

    Counselling and health services exist on campuses to help students navigate their physical and mental health. According to a 2022 study by the Canadian Alliance of Student Associations, one in two students had accessed their post-secondary institution’s mental health services. However, only 28 per cent of the 2,000 surveyed students were “aware of how to access [on-campus support] services.” A large factor limiting access was not only the long wait times but also the unawareness of the services offered. While on-campus counselling services suffer from long wait times, these services are free for all students and counselling offices often provide brochures outlining students’ options.

    Health services on campuses tackle many areas a general practitioner can, as well as offer referrals for more specific needs. Health services on post-secondary campuses are still equipped with professionals ready to help students. Additionally, some campuses may have separate designated sexual health clinics. Many institutions’ student unions offer a student health plan to help offset any health-related costs while studying.

    Student Union Services

    Post-secondary schools often have a corresponding student union, a group representing and supporting a college’s students. Students enrolled in institutions also automatically qualify as members of their student union. Though student unions operate separately from the schools, there is often overlap where they collaborate through services.

    Student unions often offer a variety of supports and services for student life including:

    • A dedicated ombudsperson service, that deals with complaints students may have about their student union or college. At some institutions, such as the University of British Columbia, the student union ombudsperson is separate from the school’s ombudsperson.
    • Legal and tax assistance services. Many student unions offer tax clinics or someone to help students navigate tax inquiries. Some student unions offer a legal representative for students to consult with for issues such as rent, employment, immigration, and many other problems they may encounter.
    • Peer support groups. Separate from a school’s counselling services, students find support through discussing with other students. While these services do not guarantee professional help, the more casual environment can ease students into the idea of opening up and not feeling alone. They can be a good alternative while waiting for counselling help.

    There are many more services available in Canadian post-secondary institutions not outlined in this article — when in doubt, students can consult various sources like their student engagement office or institution’s website. Every institution is different, but they all have services in place to serve their students. Schools have services in place to help students earn their academic credentials while ensuring they are supported in other aspects of life.

  • Indigenous Student Scholarships

    Indigenous Student Scholarships

    Horatio Alger Indigenous Achievement Scholarships
    Scholarship Value: $10,000
    Awards Available: 5
    Award Deadline: March 15, 2024

     

    Awards for Indigenous Students
    Scholarship Value: $2,000
    Awards Available: N/A
    Award Deadline: August 31, 2024

    Indspire’s Building Brighter Futures
    Award Deadlines: July 1, 2024; August 1, 2024; November 1, 2024

     

    Additional Resources

    Indigenous Bursaries Search Tool

    Métis Student Bursary Program

    MNO Major Targeted Bursaries

    Other Scholarships and Bursaries

  • How to Avoid Overspending During the Holidays

    How to Avoid Overspending During the Holidays

    Christmas vacation can be an expensive time. You may have gifts to buy, charities you donate to, parties to attend, special dinners and activities planned with family friends. There’s usually a lot going on over the holidays, and unfortunately, it costs money. Most students are on a tight budget, and find it a difficult time of year financially. Overspending during the holidays can often be a problem for people of all ages. So how do you avoid becoming one of these people? The easiest way is to spend within your means.

    Make a budget and stick with it. If you have some free time you could always get a part time job. A lot of companies hire extra staff for the holidays. Or you could sell baked goods, seasonal crafts or try cleaning or wrapping gifts for a reasonable rate.There are a number of other ways to save money and have fun at the same time over the holidays.

    Here are a few tips to help you get more but spend less over the holidays:

    • Make homemade gifts when possible; cookies, squares, paintings, knitted items, magnets, bookmarks, photo frames and albums, key chains and ornaments- the list is endless. Make use of the time you spend on the internet and look for projects that fit your special talents.

    • Shop at second hand stores, flea markets or craft fairs. You can get items that are lightly used and priced well below department stores. Items such as: books, CD’s, movies and TV shows on DVD, record albums, coffee mugs and glass ware, toys (for the younger kids in your life), board games, jewelry and ornaments are often reasonably priced and in good condition.

    • Instead of going to the theatre to see a movie invite friends over for a viewing party. Get each person to bring a snack and a movie. You could even have a theme: Christmas movies, 80’s movies, horror flicks, sci-fi, comedy, chick flicks etc.

    • Do more activities that are free: go sliding, have a snowball fight, bake, have a PJ party, organize a game night, have a winter bonfire and make s’mores and hot chocolate, go hiking, snowshoeing or cross country skiing.
    • Check out some of the free activities being offered in your area, like free skates at a local rink or free swims at an indoor pool.

    • Volunteer your time at a soup kitchen or other non-profit organization in your area.

    • Take in local minor sports, music and theatre. The ticket prices are often much cheaper than professional events and in some cases they are free.

    • Have a pot luck meal with family and friends. This way it will not cost one person a lot of money, or time cooking. Everyone can enjoy each other’s company and recipes.

    • Take a day or two to visit friends and relatives you may not see a lot. This is especially fun for students away at school. Sometimes not doing anything can be extremely fun. Talk, reminisce, and laugh. Enjoy the time you get to spend with those you love- that is what the holidays are all about.

    No matter how you spend the holidays, try not to let the commercialism and pressure of the season get to you. Sure, it’s nice to give and receive expensive gifts and participate in all that’s going on around you, but the season doesn’t need to revolve around money. Keep it simple. Get back to the true reason for the season… family, friends, love, laughter and memories.

  • October 2023 Scholarships – Apply now!

    Eaton – Indigenous Clean Energy Scholarship
    Scholarship Value: $5,000
    Awards Available: 1
    Award Deadline: October 31, 2023

     

    Leonard S. (Tony) Mandamin Award
    Scholarship Value: $10,000
    Awards Available: 20
    Award Deadline: November 1, 2023

     

    William Peyton Hubbard Memorial Award 2023
    Scholarship Value: $5,000
    Awards Available: 4
    Award Deadline: November 1, 2023

     

    Hydro One Women in Engineering Award
    Scholarship Value: $5,000
    Awards Available: 10
    Award Deadline: November 1, 2023

     

    TD Scholarships for Indigenous People 2023
    Scholarship Value: $15,000
    Awards Available: 25
    Award Deadline: November 6, 2023

     

    10 Words or Less Scholarship
    Scholarship Value: $1,000
    Awards Available: 1
    Award Deadline: November 15, 2023

     

    TD Scholarships for Community Leadership
    Scholarship Value: $70,000
    Awards Available: 20
    Award Deadline: November 15, 2023

     

    Rubincam Youth Award
    Scholarship Value: $500
    Awards Available: 2
    Award Deadline: December 15, 2023

     

    Burger King Scholars Program
    Scholarship Value: $50,000
    Awards Available: 400
    Award Deadline: December 15, 2023

     

    Automotive Women’s Association Scholarships
    Scholarship Value: $2,500
    Awards Available: 15
    Award Deadline: January 8, 2024