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  • September Scholarships of the Month – Apply Now!

    September Scholarships of the Month – Apply Now!

    Is the financial reality of post-secondary education starting to settle in? Never fear – free money is here in the form of scholarships and bursaries! Get applying and help ease the financial constraints of your educational dreams.

    1. Johnson Scholarship – open to children and grandchildren of Johnson Affinity group members and/or Home-Auto clients. Students must be completing high school in 2014 and beginning post-secondary education in the fall of 2014. Amount: 50 awards of $1000. Deadline: October 15, 2014.

    2. Tronia Systems Scholarship – open to all students enrolled in an agribusiness or related program. Amount: 2 awards of $1000. Deadline: October 3, 2014.

    3. Scotiabank Customer Scholarship  – open to students enrolled in the 2014/2015 academic year at a Canadian post-secondary school who are Scotiabank customers. Amount: 6 awards of $1000. Deadline: November 5, 2014.

    4. CN Diversity Scholarship Program – open to students who meet specific criteria: please visit their website for complete eligibility requirements. Amount: $3000. Deadline: December 31, 2014.

    5. CBC Literary Prizes – These prizes recognize the best original, unpublished writing by Canadians in poetry, short story & creative nonfiction. Amount: $6000. Deadline: Varies depending on competition. Please consult website for specifics.

    6. Government of Canada Grant for Part-Time Studies – open to part-time students who have applied for a student loan through the Government of Canada. Amount: $1200. Deadline: Varies depending on your program start date. Please consult website for specifics.

    7. Traditional Fulbright Student Awards – open to Canadian citizens who are graduate students, prospective graduate students, or promising young professionals who wish to study and/or conduct research in the United States. Amount: $15,000. Deadline: November 15, 2014.

  • Financial Help for Students

    Financial Help for Students

    Whether you’ve landed a part-time job or are looking into a student loan, money is a part of everyday life. Especially during back-to-school season, it’s important to start thinking about how to handle the money you’re making (or spending). Financial matters may seem complicated and intimidating—but if you’re looking into a post-secondary program (or have already begun to invest in one), understanding how to manage money is one of the most important things you’ll have to learn this year.

    There are key steps you can take to make sure you’re truly getting your bang for your buck: consider the following tips the next time you’re headed to the bank.

    Outline basic expenses.
    What are you going to need, and when? Establish some weekly, monthly and annual expenses and see what you can do to stick by your budget. For example, if you’re living on your own, you’ll probably be spending roughly the same amount of money on groceries each week and will have to make monthly payments on rent. Make sure these recurring bases are covered before you put your cash towards something else.

    Shop smart.
    Draw up lists – and make sure you’re specific. Set out to buy only what you’ve established you need first before you spend all your money on more “fun” things. It’s also a good idea to research before you shop. Are certain stores having sales you can take advantage of? Is a certain brand more expensive than another? Be informed about what you’re spending your money on and be prepared to justify expensive investments.

    Prioritize—or compromise.
    If you’re going out to eat one day, pack a lunch the next. If you don’t spend most of your wages one week, treat yourself with something special the next. You can have fun and be money-smart at once; it just requires a bit of calculated give and take. What’s most important is that you make sure you can afford what you’re spending. Consider looking into cheaper alternatives for the things you want if you can’t make room for them in your budget.

    Save something.
    Make the decision to put aside a portion of your earnings every payday (for example, a third of every cheque can go into a savings account). Work around these savings—spend whatever you need to, but don’t touch the money you’ve set aside. It’s smart to reserve some cash for special occasions or emergencies because things happen. You never know when you’re going to need it.

    When you’re doing financial planning, try these tips out—and as you go, incorporate some of your own strategies. Customize your student budget to suit your personal needs and get ready to reap the payoffs.

  • Money Management

    Money Management

    If you are anything like me, you will often find yourself thinking, “Just one more small purchase won’t matter.” And if you’re even more like me, you will soon realize that maybe that small purchase did matter when you discover that your bank account is now empty. It would be silly to think that one small coffee made you broke, but when you figure out that maybe having one every day is a little excessive, you have the first step toward money management down: awareness.

    Take stock of your funds. Figure out how much you will earn each month, and write it down. Next, find a little notebook and start keeping track of everything you buy. Write down where you bought it, on which date, and how much you spent. This serves the purpose of telling you where all the money goes. It might even serve the extra purpose of telling you that you have a caffeine addiction, and maybe you should cut back a little. Starbucks four days in a row, five dollars each time? There are twenty dollars, gone. Kind of scary, isn’t it?

    Keep that spending diary for three months so that you can get a good idea for the average you spend on each kind of purchase. Doing so will then assist you to start making changes in your lifestyle: this is where you have to start limiting yourself and have self-control.

    Trust me; I know it is not easy to break a spending habit. When you do something so often that it becomes routine, breaking that routine throws off the rest of your day. That being said, it is now time to break out a coloured pen or highlighter. Circle or highlight every habitual purchase you made in the last three months, and calculate the total cost. Then think of how many hours it took to earn that money. A little sobering, right? Once you realize that your time equals money, it becomes a lot easier to make good decisions regarding your spending.

    Now that you have figured out what you can cut back on, it is time to make a budget. Figure out the main categories your purchases fall under. For some, those might be their cell phone bill, car payments and gas, entertainment such as movies, music, and video games, going out to eat, savings, and so on. Certain bills will always remain the same, such as car payments and your cell phone bill. Some put 10% of their entire paycheque into a savings account which they do not use under any circumstances. With everything else, though, allocate a certain percentage of your remaining funds to each category.

    For example: let’s say that you make $750 per month. 10% of that is $75 which goes into your savings. Your car insurance payment costs $100, so now you have $575. Your cell phone bill costs $50, and the remainder is $525. Now you can assign a percent to everything else. You may calculate it so that you have extra money left over for emergencies or unexpected nights out. As long as you never go over your allotted limits for each category, then you won’t find yourself with an unexpectedly empty bank account again.

  • August Scholarships of the Month – Apply Now!

    August Scholarships of the Month – Apply Now!

    Sure, the dog days of summer are in full swing and you’re probably only thinking about what you are going to do with your friends tonight. If you’re heading to college or university starting in September, however, the time is now to apply for your scholarships and bursaries to help fund your education. In many cases, the application process only takes a few minutes. Just think – you’ll have FREE money to help you pay for your tuition, books and lodging, giving you extra breathing room come fall. Now that is truly priceless.

    1. Bill 7 Award – Open to individuals who meet ALL of the following criteria: individuals who are attending a Post-Secondary Educational Institution in the Province of Ontario; who have demonstrated financial need; who are pursuing their FIRST post-secondary program of study; and who identify as lesbian, gay, bi-sexual, transgender, transsexual, two-spirited, and/or queer (LGBTTTQ2S). Amount: $2000. Deadline: August 8, 2014.

    2. 2014 Linda Lael Miller Scholarships for Women – Open to female residents of the United States or Canada who are 25 years old or older. Amount: $1000. Deadline: August 29, 2014.

    3. Jeremy Dias Scholarship – Open to Canadian citizens/residents who are high school or CEGEP students entering accredited post-secondary institutions, or students currently enrolled in a post-secondary institution. Amount: Depends on need. Deadline: August 15, 2014.

    4. Justice Centre for Constitutional Freedoms Essay Contest – This contest is open to those who were students at a Canadian university or college during this past 2013-14 school year (including full-time and part-time students) and to those who will be commencing studies (full-time or part-time) at a Canadian college or university this September 2014. Amount: $250 – $1000. Deadline: September 15, 2014.

    5. Canada Student Grants – Canada Student Grants provide money for college or university that you don’t need to pay back. It is easy to apply for them. These grants are given to students at the beginning and in the middle of the school year. Canada Student Grants are available to students from most provinces and territories except those from the Northwest Territories, Nunavut and Quebec. These governments have their own programs. Amount: Depending on need/eligibility. Deadline: Generally, your eligibility is assessed automatically when you apply for student loans. Please consult the website for further information.

  • June Scholarships of the Month – Apply Now!

    June Scholarships of the Month – Apply Now!

    If you’re entering post-secondary in September and you haven’t yet applied for scholarships, don’t fret! There are many for you to choose from, each one tailored to needs of specific students. Take a look through the great scholarships we found this month and see if any of them will work for you on your educational path.

    1. CN Canadian Diversity Scholarships – Open to students from a minority group who are enrolled in an engineering, transportation or sales/marketing field. Amount: $3000. Deadline: December 31, 2014.

    2. Global Solidarity Scholarship (OPSEU) – Open to students who are children, foster children or wards of OPSEU members. Amount: $1000. Deadline: June 14, 2014.

    3. Brian Maxwell Memorial Scholarship – Open to all students across Canada enrolled in any program. Amount: $5000. Deadline: June 16, 2014.

    4. Make it Right Bursaries and Scholarships – Open to students who have demonstrated a commitment to excellence in residential renovation or construction to complete their academic training. Amount: $1500. Deadline: June 30, 2014.

    5. AIA and the Global Automotive Aftermarket Symposium (GAAS) Scholarship Program – Open to students pursuing a career in the automotive aftermarket. Amount: $1000. Deadline: June 15, 2014.

    6. NUPGE The Scholarship for Visible Minorities – Open to all visible minority students who are the children or foster children of a National Union of Public and General Employees member. Amount: $1500. Deadline: June 30, 2014.

    7. NUPGE The Scholarship for Aboriginal Canadians – Open to all Aboriginal Canadian students who plan to enter the first year of a Canadian public post-secondary education institution full-time in 2014 – 2015 and who are the children, grandchildren or foster children of a NUPGE member. Amount: $1500. Deadline: June 30, 2014.

    8. Safety Scholars Canada – Open to all students who produce a driving safety video that is 25-55 seconds in length. Amount: $5000. Deadline: June 19, 2014.

    9. Ontario Teachers Insurance Plan (OTIP) Bursary – Open to students who are or have a relative who are insured through an individual or group policy of an insurance plan or program offered by OTIP. Amount: $1500. Deadline: June 15, 2014.

    10. Wado-Kai Student Development Fund – Open to students involved with Wado-Kai Federation that have sensei recommendation. Amount: $1000. Deadline: June 30, 2014.

  • Living On A Budget

    Living On A Budget

    As a young person, your parents are probably paying for most, if not all, of your expenses. Perhaps you have a job, in which case you may be making some of your own money. However, because of the time that school takes up, you probably are only able to work part-time. This means that your income is limited to what your parents give you and what small amount of money you can make at your job. Learning how to budget your money is an invaluable skill that will help you to learn the value of money and make important decisions about what you need and what you can live without.

    Budgeting starts by thinking about your expenses and what you can and cannot afford to buy. It also involves setting goals for what purchases you would like to make in the coming years, which can be very exciting and rewarding. Your parents may already be paying for your “big” expenses like rent, food and transportation costs (bus pass, car, etc.). They might also pay your phone and internet bill. In turn, you would then be responsible for paying for your clothing, hygiene products (like shampoo and conditioner) and your entertainment costs. All of these amenities add up and you will eventually have to pay for all of these things yourself.

    Setting goals about when you will be able to afford a certain purchase is a really good way to initially ease yourself into a budget. If, for example, you currently work part-time hours (20-30 per week) and you want to buy a car within the next 4 years, you can calculate how much money you will have to put away in your savings account. Knowing this will help to set you up for success and encourage you to spend your money responsibly. It will help you to make tough decisions about what you really need and what you don’t (do you NEED that new Xbox game?).

    Depending on your financial situation, you might also be responsible for paying your university or college tuition. These costs can reach into the tens of thousands of dollars and definitely require budget planning. You will need to factor in all of the above mentioned cost in addition to the cost of school. This is where applying for student loans and scholarships becomes vitally important. Remember – student loans you are required to pay back. Scholarships are essentially free money. Ensure you have applied for as many scholarships as possible!

    All of this responsibility can tend to weigh down on you and make you feel trapped. But don’t worry! Everyone has a budget. Some are more restricted than others, but with a little creativity and organizational skills, you will be able to manage perfectly well and become a better person for it. Money comes and goes, but as long as you are doing your part to earn an income and to actively plan and manage your money, you will be fine.

  • May Scholarships of the Month – Apply Now!

    May Scholarships of the Month – Apply Now!

    May flowers are here, and so are a myriad of new scholarships that will help fund your academic ambitions. No matter what you are studying, there is a scholarship or bursary for you. Check out the latest ones that we’ve discovered for this month:

    1. Progressive Economics Forum Student Essay Contest – Open to all students enrolled in undergraduate or graduate programs throughout Canada. Amount: $1000. Deadline: May 5, 2014.

    2. Atlas Shrugged Essay Contest – Open to students worldwide who submit an original 800 – 1,600 word essay on one of the pre-selected essay topics from Ayn Rand’s “Atlas Shrugged”. Amount: Up to $10,000. Deadline: October 24, 2014.

    3. Ken Dryden Scholarship – Open to students currently or formerly in the care of the Canadian child welfare system, who demonstrate great achievement and promise. Amount: $3000. Deadline: May 16, 2014.

    4. SOS Children’s Safety Scholarship – Open to students across Canada who submit an essay on a social issue covered in SOS Magazine. Amount: $5000. Deadline: July 31, 2014.

    5. Nelson Civic Leadership Scholarship – Open to all Canadian students outside of Quebec who are completing their final year of high school and are making a difference in their community. Amount: $5000. Deadline: May 30, 2014.

    6. Adrian Campbell Scholarship Fund – Open to any Nova Scotian student completing Grade 12 and entering a post -secondary educational program.  Preference will be given to a student from Hants or Kings County. Amount: $1000. Deadline: May 30, 2014.

    7. Johnson Scholarship – Open to children and grandchildren of Johnson Affinity group members and/or Home-Auto clients. Students must be completing high school in 2014 and beginning post-secondary education in the fall of 2014. Amount: 50 scholarships of $1000. Deadline: September 15, 2014 (Note: Applications available starting May 15, 2014).

  • Covering the Cost of University

    Covering the Cost of University

    University tuition is a huge expense that leaves many students deep in debt by the time they graduate – especially if they choose to live on their own, either in residence or near campus. Income from summer jobs is difficult to stretch out through the school year. That’s why many students work part-time on or near campus to offset the costs of school.

    But even before you begin to peruse employment options, don’t forget to apply for as many scholarships and bursaries you can find for which you are eligible. Search your school’s website for scholarship and bursary information and ask someone at the finance offices for advice. There is often more money available to students through these awards than there are students who apply for them. So don’t let competition dissuade you from applying. You have nothing to lose and money to gain! (Remember that the most important thing to do with any application for scholarships and bursaries is to have someone edit your work before you submit it).

    On-campus jobs provide another fantastic source of income to help you pay for the school year. There are a lot more options for work than you might think! Some students with disabilities, for instance, require extra assistance reading journal articles or writing down their thoughts. Look for a resource centre on your campus and ask if you could be hired to help out. The work, which is government-funded, pays relatively well. Check out your university’s administration offices to see what else may be available and ask all of your professors what they recommend.

    Off-campus jobs are another alternative means to acquire income as you go to school, but there are things to consider before you apply:

    1. How long will it take me to get to and from the job?
    2. Will my boss allow flexibility so that I can prioritize my schoolwork?
    3. Does what I learn at the job compliment my degree?
    4. Can I get something from the job for free that I would otherwise have to pay for, like a gym membership, food or clothes?
    5. Will I be able to manage my time effectively enough to juggle a job and school?

    It may be a good idea to settle into your classes and develop a homework and study routine before you seek employment. Prioritize your goals and decide how much time you need to commit to your education compared how much time you need to spend earning money.

  • Are Scholarships Just for Brainiacs?

    Are Scholarships Just for Brainiacs?

    You often hear about all of the scholarships received by the students who are at the top of the class or all-stars on their team. Entrance scholarships, academic excellence scholarships, and Dean’s list/Honour Roll Awards are prevalent in conversations surrounding student awards. What many post-secondary applicants do not know is that there are a numerous awards available for the average student. There are awards that recognize skills and accomplishments beyond athletics and academics. Examples of these include scholarships based on financial need, volunteer work or extra-curricular activities. Just because you do not consider yourself a “brainiac” does not mean there are not grants and scholarships out there for you!

    You should always start your scholarship search with the college or university you plan on attending. The financial aid office or the school’s Awards and Financial Aid website are good places to start looking for internal scholarships. While you are searching for scholarships, consider looking into bursary opportunities as well. Applying for many of these scholarships and bursaries is as simple as filling out an application form and submitting it to your financial aid office (in-person or online). However, some applications require more time and thought. For example, some may ask you to provide references, a writing sample, or a letter explaining why you are a great candidate for this scholarship/bursary. Many students are not willing to put in the extra effort to apply to these scholarships, but if you are willing to put in the time it could greatly pay off.

    In addition to scholarships through your school, be sure to research scholarships within your community and/or through your parents’ or guardians’ workplaces. Many community organizations or clubs in your area may have scholarships that go unadvertised and you did not even know about. For example, 4-H Ontario has a webpage designated to grants and scholarships available for 4-H members and the general public, so check out your local associations’ websites or talk to someone you know within the club. Many workplaces also offer grants or scholarships to children of their employees. Just ask your parent or guardian to check their newsletter or their company’s website to see if there may be scholarships available to assist you with paying for your education. Every little bit helps!

    After you look at your internal school scholarships and community clubs and organizations, consider looking into more general scholarship websites. Some scholarship websites offer a wide variety of general scholarships from private donors looking to make a difference. Websites such as studentawards.com provide many different scholarship opportunities relevant to your interests, program or location. It is important to remember that the more time and effort you are willing to put into the application, the easier it will be for the donor to get to know you as a person – not just an applicant. There is a scholarship somewhere suited to you, even if you are not a brainiac. Talk to your guidance counsellor or financial aid office for more specific information about scholarships.

  • Tips on Student Finances

    Tips on Student Finances

    1. Start planning your finances early. Figure out how much money you’ll need as soon as possible (tuition, ancillary fees, books and supplies, living expenses) so you’ll know how much financial support you’ll need. Include a realistic monthly budget for transportation, laundry, groceries, toiletries, entertainment, rent, etc.

    2. Use free money first if you have access to it (money from parents, money saved for your education including RESPs, scholarships and bursaries, etc.). If you need to borrow money, use low interest or no-interest options first, with OSAP being the best example. If you need to borrow money on top of that, try and get a cheap student loan. Stay away from credit cards if you can.

    3. Check out the OSAP Access Window at http://osap.gov.on.ca. The OSAP Access Window was developed by the Ontario government to help students make informed decisions when planning for their post-secondary education. It provides approximate costs by post-secondary institution, OSAP funding estimators, repayment tools and lots of other useful information.

    4. Explore early the scholarships, awards and bursaries offered by the university. There may be some program-specific or special interest awards that you may be eligible for. Many scholarships, awards and bursaries have deadlines and require applications.

    5. Don’t miss an application deadline. Include deadlines for financial support applications in your calendar and make sure you apply in time to be considered.

    6. Investigate getting a job as a source of income. If you need to work, work as much as possible in the summer period, rather than during the school year. If you need to work during the school year, try to avoid working a great deal in your first semester or in any semester that you expect to be particularly challenging. If you expect to be pressed for cash, consider postponing your studies for a year and saving some money, or consider reducing your course load from five or six courses to three or four courses per semester.

    7. Look into various means of saving money:
    • Brown bag it. Packing your own lunch is cheaper and healthier.
    • Buy new to you. Whether it’s used books, secondhand clothing or garage sale furniture, you can find what you need at a fraction of the cost.
    • Shop online to browse, create budgets, compare prices and take advantage of online savings.
    • Take advantage of student discounts. Be sure to flash your student ID at entertainment venues, on public transportation and anywhere else that will take it. Check out special deals through your student union.
    • Pick up the free weeklies to see what entertainment is going on in the city for free. Also check out free events hosted by the university.
    •Maximize public and active transportation (walking, cycling) to keep commuting costs down.
    • Avoid the latte effect and buy a coffeemaker or a kettle to make your own.

    8. Resist the temptation to sign up for a student credit card. If you end up falling into the “this-is-my-only-credit-card” crowd, make sure you get one with a low interest rate and ask them to fix the credit level at $500. Then be sure to use it only for emergencies. When credit cards are the only accepted methods of payment, as in online transactions, save the money you will need before you make the purchase. Then pay off your credit card immediately after charging it.

    9. A line of credit typically has a much lower interest rate than credit cards. A line of credit can be a cost-effective, convenient way to borrow money for a short period of time. Most financial institutions have a student line of credit that offers a lower interest rate, no annual fee and fairly lenient terms and conditions.

    10. Monitor your expenses. Keep all your receipts and track your expenses. This will force you to write down how much you’re spending, prompting you to think about whether you really need to spend that money or not. This will also definitely let you know if you need to change your spending habits and/or increase your income before it’s too late.

    11. If you find you’re running into financial difficulties, immediately speak to a student financial assistance advisor on campus or at your bank. They will look at your budget and give you some good advice before you get in over your head.