Getting Started

Getting Started

A four-year university education can cost as much as $70,000 CDN if you are studying in Canada and $200,000 CDN if you are studying in the U.S. If you are graduating from high school this year and have begun to apply to universities, or will be graduating from high school in the next few years, here are some steps to assist you with securing funding for your education:

Step 1:
Determine what your costs will be, how much funding you can get from government loans, and how much you and your parents are expected to contribute. Visit the Education Cost Calculator and Student Loan Estimator sites.

Did you know that Government Student Loans rarely cover the entire cost of a University education? Did you also know that if your parents earn more than $50,000 per year, or if you own an automobile, you may not even qualify to receive Government Student Loans? Read the Student Loan FAQ for more interesting facts on student loans.

Step 2:
Find information on how to apply for government loans at the National Student Loans Service Centre

(this site also provides information to help students receive, manage, and repay their student loans).

The List of Designated Educational Institutions contains all of the educational institutions where students are eligible to receive Canada Student Loans.

Provincial / Territorial Student Assistance Offices provide applications for all provincial and federal student assistance programs.

Step 3:
Apply for additional funding, to cover shortfalls

Canada Study Grants provide financial assistance to post-secondary students with permanent disabilities, high-need part-time students, women in doctoral studies, and students with dependants.

Financial Aid Org provides free access to their database of scholarships, information on other types of financial help that are available, links to other database and has hints on how to protect yourself from scholarship scams.

If you are unable to get a Government Student Loan, you may want to consider a

Student Line Of Credit - Most of the major banks offer a student line of credit as an alternative to a Government Student Loan. It is important that you contact the lending institution of your choice as soon as possible to determine whether or not you are eligible for a Student Line of Credit.

Step 4:
Apply to scholarships/bursaries...

Scholarships Canada is a comprehensive site with an extensive database to find scholarships, student awards, bursaries and grants. This site also provides information about student loans, applications and budget planning.

Also take a look at the following categories:

RESPs (Registered Education Savings Plan) - Complete RESP (Registered Education Savings Plan) information from Human Resources Development Canada.

Government Assistance

Scholarships and Loans

Studying in the U.S.

International Students