Other Funding Sources
CanLearn Web Site
Click here to access this comprehensive Canadian government website that provides information and services students need to decide what and where to study and how to cover the costs.
Student Line of Credit
Many students arrange a Student Line of Credit with their bank or credit union. These loan programs are specifically designed to support students while they are attending college or university.
RRSP Life Long Learning Program
Click here to access information about Lifelong Learning Plan (LLP) which allows you to withdraw amounts from RRSPs to finance training or education for you or your spouse or common-law partner. You do not have to include eligible withdrawals in your income when you withdraw funds from your RRSP under the LLP; however, you must repay the amounts over a specified period of several years. For more information on the LLP please visit the following government website:
Service Canada Funding
Service Canada funding (www.servicecanada.gc.ca)may be available to applicants in all provinces. If you are interested in HRSDC funding, please contact your local HRSDC office to see if you qualify. Thompson Career College will work with you to provide the information needed to get HRSDC funding approval.
If you are on Worker's Compensation, our programs may be a good option for job retraining. Talk to your WCB counselor and have them contact us.
First Nations Education Funding
Most First Nations have access to funding for the education and advancement of band members. Contact your band council or education coordinator to see if you qualify.
Scholarships and Bursaries from Corporations and Service Organizations
Many companies and service organizations provide scholarships (academically based awards) or bursaries (need based awards) for college and university in Canada. There is no 'central clearing house' where you go to find or apply for these. You have to do your own research and leg work, but the results can be very rewarding. Just last session we had a student enter the program with a $5,000 bursary from her local Canadian Legion which she was eligible for because her father was in the armed forces over 30 years ago. This scholarship was not published anywhere, and was only open to students from the small town where the student lives.
Here are 5 tips to get you started:
- Use Family Ties - Make a list of the companies that the members of your family work for. A lot of major companies (Tim Hortons and McDonalds, for example) offer scholarships and bursaries to their employees or to the spouses and family members of their employees.
- Think Local -
Do a Google search to look for local businesses and service organizations in your area that might be offering scholarships and bursaries. Smaller, less visible opportunities mean less applicants and a much better chance of winning the award.
- Read the Terms Carefully -
If you see an ad for a scholarship or bursary, read it carefully. They're telling you exactly what you need to do to get it. If they say they want an essay about your past, don't focus your essay on what you hope to do in the future. Don't lose thousands of dollars to someone who followed their instructions more carefully.
- Always Apply -
Never pass on an opportunity because you think too many other people will apply for it. It doesn't cost you anything to try and your efforts might cover a significant amount of your costs.
- Don't Wait -
Don't leave your application to the last minute. You don't want your efforts to come across as rushed or poorly thought out. This might be worth thousands of dollars. Take the time to do it right