Canadian universities remain some of the best in the world offering the best experience to both local and international students. Some reasons why Canadian universities are among the best include; Students benefit from experiential learning – such as co-ops, internships and service learning – as part of their university education; Social science and humanities grads share in the income premium for university graduates, for example, full-time workers with degrees in History earn, on average, above $65,000 annually and finally, Canadian universities are home to more than 60 business incubators, accelerators and start-up programs that help fuel Canada’s entrepreneurial economic growth. There are countless reasons why so many international students target Canadian Universities to fulfill their educational dreams. Much as there is a consistent increase in numbers of international students, most of these students often face challenges, such as high fees.
Most financial aid options offered at universities in Canada are created to benefit Canadian students. As for international students, options of finding aid in Canada are limited and it is important that one understands the costs of studying here so you they can better plan ahead.
Types of Funding Available through Government Financial Aid include:
• Student Loans – There are three types of loans available to students in Canada – Provincial Student Loan, Canada Student Loan and Part-Time Canada Student Loans.
• Grants and Bursaries – Each province has it’s policies regarding grants and bursaries which are awarded based on financial need and other criteria.
• Scholarships – A number of scholarships are available in the depending on the province you are studying in and are awarded based on various criteria, such as academic achievement or community involvement.
• Programs for Student with Permanent Disabilities – If you have a documented permanent disability and will be studying at a designated post-secondary institution, there are financial aid programs available that you may be eligible to receive.
• Programs for Students with Dependents – If you have dependents and will be studying at a designated post-secondary institution, there are programs available that you may be eligible to receive.
Other Sources of Funding apart from Government Financial Aid:
Always check with your school’s or department’s Financial Aid Office for upcoming opportunities in your research area related to available scholarships, grants, studentships, bursaries and awards. Many colleges maintain a list of available opportunities for students to pursue.
• Direct loans from banks and credit unions may be another option for you
• Financial support from community organizations and service clubs
• Part-time Employment while you attend college
• Family and friends can support with cash contributions.