Boost Your Chances of Securing a Grant, Bursary or Scholarship

Applying for post-secondary education can be overwhelming for many Canadians, check out these tips from RBC on securing financial aid.

Applying for post-secondary education can be overwhelming for many Canadians, especially after seeing the cost of tuition. Costs vary widely across the country. According to Statistics Canada, the average annual tuition cost for an undergraduate degree in Ontario is $7,868; while Saskatchewan and Quebec come in at $6,885 and $2,799 respectively.

To offset the cost, students have many resources available including: grants, bursaries and scholarships — essentially free money to put towards education — available to students across the country.

Offered by businesses, government, schools and organizations, most resources range from $100 to $20,000.

Scholarships
Scholarships can be awarded based on a variety of criteria including: academic standing, athletics, community involvement or any combination of the mix.

For scholarships based on academic standing, it’s imperative to maintain good grades; whereas for an Athletic Financial Award Scholarship the requirements vary.

Scholarships based on community involvement are offered by a variety of community organizations, businesses and schools. Requirements for these types of scholarships vary. Remember, you’ve got to apply for a scholarship in order to be considered for one.

Grants
These are based on financial need or non-academic criteria such as volunteer experience, athletic involvement or ethnicity. In some cases, if you qualify for a Canada Student Loan, you may be automatically assessed for a Canada Student Grant. It is possible to receive more than one grant. Other grants require an application.

Bursaries
Similar to grants, as they are based on financial necessity and non-academic criteria, bursaries are also similar to scholarships as students must apply to be considered.

Unclaimed Funding
“Overall, there is over $100 million available in scholarships and bursaries across Canada,” says Chris Wilkins, president of student recruitment firm Edge Interactive, “With at least $3 million of it going unclaimed every year.”

Click here to read the full article from RBC on securing a grant, bursary or scholarship.