If you are eligible, there are some government programs that can help offset your need for student loans. These funding programs are open to a wide variety of students, and the best part is that you don't have to pay them back!
Canada Study Grants
Canada Study Grants (CSGs) can provide financial assistance to high-need part-time students, women in certain doctoral studies, students with dependants, or students with permanent disabilities who are eligible for Canada Student Loan, Canada-Ontario Integrated Student Loan, Canada-Saskatchewan Integrated Student Loan, Canada-New Brunswick Integrated Student Loan or Canada-Newfoundland and Labrador Integrated Student Loan assistance. Unlike student loans, Canada Study Grants do not have to be repaid.
Grants are awarded on the basis of need, although there may often be additional considerations.
To apply, you must first establish your financial need by completing an application for full-time or part-time student loan funding (available from your provincial or territorial student assistance office). You then submit an application for the Canada Study Grant (CSG) to the same office.
For information about eligibility and further details on applying for a CSG, please see Applying for and Maintaining a Loan.
Canadian Millennium Scholarships
The Canada Millennium Scholarship Foundation was established by the Government of Canada in 1998 to celebrate the new millennium by investing in Canada's students. It allocates $285 million in bursaries to students in Canada each year.
Bursaries are awarded on the basis of need and merit. Students who meet the Foundation's merit criteria are ranked in order of financial need by their province or territory of residence. The province or territory then forwards the names of the students determined to have the highest need to the Foundation.
To be eligible for a bursary a student must:
-
be a Canadian citizen or permanent resident;
-
be enrolled as a full-time undergraduate student in an eligible program;
-
be enrolled at a Canadian post-secondary institution that is recognized by the Canada Student Loans Program (check with province or territory for details);
-
be eligible for student assistance in the province or territory of residence;
-
have successfully completed 60% of a year of post-secondary studies. This requirement does not need to be met in a single session. If you have completed several courses which, taken together, represent 60% of a full year of post-secondary education, you will be considered to have met this requirement. In some provinces, there may be a requirement that these courses have been taken within the ten years prior to the application for assistance.
Some provinces may have additional requirements or restrictions on eligibility. Please consult your provincial/territorial student loan office for more information.
Bursaries range in value from $1,000 to $4,500, depending on the student's level of need and the province/territory of residence. Students may receive a lifetime limit of $19,200 in awards from the Foundation, including excellence awards, for up to 32 months of full-time study. These months do not have to be consecutive.
The amount of the bursary is based on students' levels of financial need, as assessed by provincial or territorial student financial services offices. In general, the value of the award is proportionate to the level of need: i.e., students with a high level of need will receive larger bursaries than students with lower levels of need.
The bursary program does not have its own application form. Students are automatically considered for bursaries when they apply for financial assistance in their province or territory of residence.
The Foundation grants $285 million in bursaries each year. Bursaries are allocated to students in each province and territory on a per capita basis.
Because the Foundation has provided students with assistance, they are in a better financial position than they were at the start of the year and thus less in need of assistance from the province or territory. Any money saved by the province or territory as a result of the Foundation's bursaries is being reinvested for the benefit of students.
Some jurisdictions may have additional requirements. Please check the Millennium Scholarship Web site for complete details.
