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  • May Scholarships of the Month – Apply Now!

    May Scholarships of the Month – Apply Now!

    It’s difficult to believe, but May is already upon us. Chances are you’ve already applied to – or are about to apply to – your post-secondary schools of choice. But what about your finances? Don’t put off thinking about them! Student loans certainly are not your only options when it comes to paying for your education. Scholarships and bursaries can be found in droves – you just need to go out there and apply for them! Check out some of the great scholarships we were able to find for this month!

    1. 2013 ECO Canada Scholarship – For students entering any field of study at any school across Canada. Amount: $2000. Deadline: May 21, 2013.

    2. The Kitchener Sports Association Scholarships (KSA) – For students living in Ontario entering any field of study in any school across Canada. Amount: $2000. Deadline: May 21, 2013.

    3. Education Awards for Brain Tumour Survivors – For students across Canada entering any field of study in any school, who are survivors of a pediatric brain tumour (diagnosed with a brain tumour before the age of 18). Amount: $5000. Deadline: May 17, 2013.

    4. MyUnited Student Award – For students living in Ontario entering any field of study in any school across Canada. Amount: $3000. Deadline: May 17, 2013.

    5. ACLS Foundation Geomatics Scholarship – For students across Canada entering a Geosciences/Geological and Earth Sciences program at any school. Amount: $1500. Deadline: May 15, 2013.

    6. Brock University Council of International Schools CIS Scholarship – For international/Visa students entering their first year of study in any program at Brock University. Amount: $3000. Deadline: May 15, 2013.

    7. Credit Valley Horticultural Society Scholarship – For students in any field of study at the University of Guelph. Amount: $1000. Deadline: May 15, 2013.

    8. The Dr. John M. and Regina Riffel Entrance Bursary – For students in any field attending Campion College in Regina. Amount: $750. Deadline: May 15, 2013.

    9. The Epilepsy Association of N.S. Memorial Scholarship/Bursary – For students from Nova Scotia, Prince Edward Island and New Brunswick who have been diagnosed with epilepsy. Amount: $500. Deadline: May 15, 2013.

    10. Lupus Canada Scholarship – For students across Canada entering any field of study at any school who have been diagnosed with Lupus. Amount: $1000. Deadline: May 15, 2013.

  • Student Debt: Your New BFF

    Student Debt: Your New BFF

    Debt is a four letter word that should not be feared.

    Students who learn how to manage debt during university are paying themselves a great investment. You may be hearing horror stories of friends of friends who are paying off student loans years after graduation. Even the media pitches in and tells tales of students with debt so large that it seems unlikely they will ever pay off.

    No one wants to start out in life saddled with debt, but this could really be the best thing you do for yourself.

    Good Debt vs. Bad Debt
    A $1000 handbag or watch from your favourite designer is bad debt. $1000 towards books and supplies is good debt. Debt that goes towards something that will benefit you in the future is fine. Using borrowed money to earn your degree will only guarantee yourself a chance to earn much more than someone without a degree or diploma.

    Dr. Richard Settersten and Barbara E. Ray’s book Not Quite Adults highlights this fact – Taking on a little debt for a bigger payoff down the road is smart. Settersten and Ray also shared Nobel Laureate Milton Friedman’s advice: people should borrow the most early on when their earnings are the smallest, save a lot when they are in their highest earning years in mid-life and then start spending all those savings after they retire.

    Be Realistic
    BMO Financial Group surveyed students across Canada and found that half believe that they will graduate with zero or less than $10,000 debt. This doesn’t quite match up with the findings from Statistics Canada, which states the average student graduates with $18,800 in debt. Be realistic when you’re borrowing money and always know how much you’ve taken out and how much you’re spending.

    Be Strategic
    Arthur Chan, who took out Canada Student Loans for fives years at Carleton University to complete his engineering degree, graduated with a debt of $21,000. He wasn’t able to find a job in his field until 8 months after graduation. Now, 2 years into in a full-time position with the Government of Canada, that massive loan is all but a distant memory. How did he do it?

    Just because you’re able to borrow a large amount of money doesn’t mean you have to spend all of it. Arthur lived at home during university and took public transportation everyday to keep costs low. He also worked part-time retail jobs during summer vacations. When he wasn’t able to find a job right away, he applied for interest relief on his student loans. Once he was able to secure a job, he used his earnings to get rid of the debt as quickly as possible. The key is to learn how to save as much as you’re able to borrow.

    With tuition costs rising across Canada, sometimes adding everything up really discourages prospective students. Don’t let debt deter you from getting the education you want.

    Remember: education is a right, not a privilege.