For many Canadians, post-secondary education may seem out of reach, especially because of tuition fees. These vary considerably from province to province. According to Statistics Canada, tuition fees for undergraduate studies in Ontario average $7,868, while in Saskatchewan and Quebec they reach $6,885 and $2,799 respectively.
To reduce these costs, students have a variety of resources available to them, including grants, scholarships and bursaries (free money) for students in all regions of Canada.
Offered by corporations, government, educational institutions or other organizations, resources range from $100 to $20,000.
Scholarships
A scholarship may be awarded based on several criteria: academic achievement, athletic achievement, community involvement, or a combination of these elements.
To obtain a scholarship focused on academic results, it is imperative to obtain excellent grades, while the requirements vary in the case of scholarships intended for athletes.
Scholarships focused on social involvement are offered by social organizations, companies and educational institutions. Requirements also vary for this type of scholarship. Please note that you must submit an application to be eligible.
Grants
They are awarded on the basis of financial need and criteria other than academic results, such as volunteer work, sporting commitment or ethnic origin. If you qualify for a Canada Student Loan, in some cases your eligibility for a Canada Student Grant may be automatically considered. It is possible to receive more than one grant. An application must be submitted for other subsidies.
Advanced Scholarships
Like grants, scholarships focus on financial need and criteria other than academic performance. As with scholarships, students must apply to be considered.
Unclaimed Scholarships
“In total, more than $100 million is offered in the form of scholarships in Canada,” emphasizes Chris Wilkins, president of Edge Interactive, a company specializing in student recruitment. However, every year no buyer is found for at least $3 million. »
“What a waste,” says Wilkins. We asked fair managers whether they were satisfied with the number of registrations. For example, we asked them whether they had received enough requests. 59% said they would like to receive more.
Students are often unaware of the existence of these scholarships and do not know how to apply for them. Sarah Rushton, 29, from Vancouver, took advantage of low application rates during her undergraduate studies at Saint Mary’s University in Halifax. During those four years, she received the Dalton Political Science Scholarship, focused on academic excellence. To apply, she wrote an essay, maintained a 4.0 grade point average and filled out the application form. And she got the scholarship. By submitting as many applications as possible, Sarah Rushton received several small grants of $500. “Sometimes you’re the only one applying,” she notes. »
Optimize your chances
1. Network
Go get the information. Ask friends, family and colleagues if they know of any grants, scholarships or grants. Perhaps your loved one’s employer offers scholarships. Does your local Rotary Club award scholarships? If they cannot find information online, students often do not look further. They’re wrong. Don’t underestimate the power of networking.
2. Make the necessary efforts
You may also be required to submit letters of recommendation or documents in addition to the application form. According to Mr Wilkins, the game is worth it. Often few requests are submitted. Why not try your luck?
3. Seek help from your educational institution
Career counselors and department chairs can provide you with valuable assistance. They know which scholarships are available and which ones generate the fewest applications.
4. Create a profile on the Scholarship Canada website
This website contains information about scholarships available in all provinces and territories, as well as those for Canadians studying abroad. Students must create a profile to receive email alerts about scholarship application submission deadlines. You can also use a filter to search for scholarships by name, institution, field or provider. The yconic and CanLearn sites are also interesting. Note: The Scholarships Canada and yconic sites are in English only, but they provide access to scholarships for studies in French that are open to students from all provinces.
Mr Wilkins has noticed in recent years that the number of scholarships offered has increased, while the number of applications remains low. He would like to see more students sign up so that all available money is well spent. “Don’t despair. Take your chance,” he says.
There is no better time to apply for a scholarship. Keep an eye on the application deadlines on the Scholarships Canada, Financial Consumer Agency of Canada, yconic or Universities Canada sites.
For more resources and financial advice on different ways to pay for your education, visit the RBC Student Platform or the RBC Scholarships page.
This article is intended to provide general information only and is not intended to provide legal, financial or other professional advice. Please consult a professional advisor regarding your specific situation. The information presented is believed to be factual and current, but we cannot guarantee its accuracy and should not be considered an exhaustive analysis of the topics discussed. The opinions expressed reflect the judgment of the authors as of the date of publication and are subject to change. Royal Bank of Canada and its entities neither expressly nor implicitly promote the advice, opinions, information, products or services of third parties.
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