University can seem expensive, but there are many different ways for you to fund your university studies.
Universities
Scholarships and awards can help to fund your education and are
available through most universities. Universities do not require you to
repay these scholarships and awards. Some scholarships are awarded
based on financial need; others are awarded based on community
involvement or academic achievement. Some scholarships require an
application, while others do not.
To find information about the scholarships available to you, check out the eINFO Scholarships search. You can also find more detailed scholarship information on the universities' websites.
Reminder: Scholarships that require an application may have early
deadlines - make sure that you do your research and apply on time.
Government
The Ontario and Canadian governments both have
programs that provide financial assistance to those who need it. Check
out the following links for more information.
Ontario Student Assistance Plan (OSAP)
OSAP provides loans to students pursuing postsecondary studies, based
on financial need. OSAP loans are interest-free until you have
graduated from university, and you start repaying the
loans six months after you have graduated. Find details at: http://osap.gov.on.ca.
Queen Elizabeth II Aiming for the Top Scholarship
This
scholarship is designed to recognize students who have shown academic
excellence at the secondary school level and to assist students with
financial need. Find details at http://osap.gov.on.ca.
Millennium Scholarships
The Canadian Millennium Scholarship
Foundation provides a range of bursaries, awards and scholarships to
improve access to Canadian postsecondary education. Since 1998, the
Foundation has distributed more than $1.6 billion in funding to more
than half a million students across Canada. Find details at www.millenniumscholarships.ca.
Personal
If your parents' household income is too high, OSAP may not cover all
the costs of university. In this case, you may want to look into
personal bank loans or lines of credit. Unlike OSAP, bank loans do
charge interest immediately. Most banks provide specialized student
loans - contact a few local banks to compare their products.
Other
There are many organizations and companies around the
country that offer scholarships, awards and prizes, often based on
competition. You must actively seek out and apply for these awards. The
internet is a great source of information - do your research and
remember to apply early. It's also worthwhile to look into scholarships
offered by organizations or community groups that you or your family
belong to, as these groups often have special scholarships available
only to members and their families. Likewise, ask your parents and
family about any financial support programs that may be offered through
their workplace. Many companies provide scholarships to employees and
their families.