We curated a list of funding sources available to Canadian students.
Our goal?
To make it easier for students to find financial support to pursue their educational dreams.
This list includes programs that are either government-funded or non-profit organizations that offer scholarships, grants, loans, and bursaries to support students’ pursuit of higher education.
The parameter for choosing these sources is their availability to Canadian students, whether based in Canada or studying abroad.
Without further ado, here are the funding sources for Canadian students:
Scholarships and Grants
Scholarships and grants are forms of financial aid that do not need to be repaid. These are often awarded based on academic merit, financial need, or other criteria.
Some include:
1. Canada Student Grants and Loans
Program Overview: The Government of Canada offers Canada Student Grants and Loans to help students pay for post-secondary education. The grants are based on financial need and do not have to be repaid, whereas the loans must be repaid.
Eligibility: Eligibility for these grants and loans varies depending on your province or territory, your financial situation, and whether you are a full-time or part-time student.
Key Features
- Canada Student Grant for Full-Time Students: Offers up to $4200 for a standard 8-month academic year.
- Canada Student Grant for Part-Time Students: Provides support for those studying part-time and offers up to $2,520 per academic year.
- Canada Student Grant for Students with Permanent Disabilities: Additional support for students facing disabilities. Offers up to $2800 per academic year.
2. Provincial and Territorial Scholarships
Program Overview: Each province and territory in Canada offers scholarships and grants for post-secondary students. These are often tailored to meet local needs and may support a broader range of criteria, including merit-based achievements, financial need, and specific fields of study.
Eligibility varies by province or territory. Some scholarships are specifically aimed at residents, while others are open to all students within that region studying at accredited institutions.
Examples
- Ontario Student Assistance Program (OSAP)
- Alberta Student Aid
- British Columbia Student Assistance Program (BCSAP)
3. Vanier Canada Graduate Scholarships
Program Overview: The Vanier Canada Graduate Scholarships aim to attract and retain world-class doctoral students by supporting those who demonstrate leadership skills and a high standard of scholarly achievement in graduate studies in the social sciences, humanities, natural sciences, engineering and health.
Eligibility: Open to both Canadian and international students pursuing a doctoral degree at eligible Canadian universities.
Key Features:
- Provides $50,000 per year for three years.
- Highly competitive, requiring nominations from the university the student wishes to study at.
4. NSERC Postgraduate Scholarships
Program Overview: The Natural Sciences and Engineering Research Council of Canada (NSERC) offers various scholarships and fellowships to support students at different levels of postgraduate science and engineering education.
Eligibility: Applicants must be Canadian citizens or permanent residents of Canada. There are different programs for master’s and doctoral-level studies.
Key Features:
NSERC Postgraduate Scholarships-Doctoral (PGS D): Offers financial support to high-caliber scholars in an eligible doctoral program.
Canada Graduate Scholarships-Master’s Program (CGS M): Provides a stipend of $17,500 for 12 months, non-renewable.
Applying and Additional Tips
Application Processes: Most scholarships require applications through the respective university or via dedicated portals like the scholarship’s official website. It’s essential to meet all deadlines and provide all requested documentation.
Additional Support: Many Canadian universities offer students supplementary financial aid and awards, which can be accessed alongside government-funded scholarships.
Research and Planning: Prospective applicants should conduct thorough research to identify all the scholarships for which they may be eligible and plan their applications well in advance.
These scholarships and grants represent a commitment by the Canadian government and educational institutions to invest in students’ futures, reduce financial barriers and promote academic excellence across various disciplines.
Visiting official government or educational institution websites is highly recommended for detailed information.
University/College-Specific Scholarships in Canada
University and college-specific scholarships in Canada provide additional financial support tailored to students at specific institutions.
These scholarships vary widely in eligibility, amount, and criteria, including merit-based, need-based, program-specific, and scholarships for underrepresented groups.
Here’s an overview of the types of scholarships available at major Canadian universities and colleges and how they generally operate.
1. Merit-Based Scholarships
Description: These scholarships are awarded based on academic excellence, leadership qualities, and extracurricular involvement. They do not typically require proof of financial need.
Examples:
- University of Toronto President’s Scholars of Excellence Program: Offers $10,000 in the first year and opportunities for guaranteed access to part-time on-campus employment during the second year.
- McGill University Major Entrance Scholarships: These scholarships range from one-year awards to major renewable scholarships based on academic achievement.
2. Need-Based Scholarships
Description: Aimed at students who demonstrate financial need, these scholarships are often combined with other financial aid to cover tuition and living expenses.
Examples
- University of British Columbia’s International Scholars Program: Offers packages that may include scholarships, loans, and work opportunities to students who need financial assistance.
- York University’s Schulich Leader Scholarships: Provides significant funding for students in STEM (Science, Technology, Engineering, and Mathematics) disciplines, combining merit and need.
3. Program-Specific Scholarships
Description: These scholarships are tailored to students enrolled in specific programs or fields of study. They are often designed to support sectors where skilled professionals are in high demand.
Examples
University of Waterloo’s Co-op Programs: Many departments offer scholarships linked to co-op placements, particularly in engineering and computer science.
Carleton University’s Awards for Journalism**: Specific scholarships for students in the journalism program to support their studies and work placements.
4. Scholarships for Underrepresented Groups
Description: These scholarships aim to support diversity and inclusion by assisting students from underrepresented groups in higher education.
Examples:
- Simon Fraser University’s Indigenous Scholarships and Awards: Offers various funding opportunities for Indigenous students.
Dalhousie University’s Scholarships for Black Students: Dedicated scholarships to encourage and support Black Canadian students.
5. International Student Scholarships
Description: Many Canadian universities offer scholarships specifically designed to attract and support international students, recognizing the unique challenges they may face when studying abroad.
Examples
- McMaster University’s International Excellence Awards: Offered to incoming international undergraduate students based on academic achievement.
- Concordia University’s International Tuition Award of Excellence: Reduces tuition fees to provincial levels for international students meeting specific criteria.
Applying and Additional Tips
Application Process: Some scholarships require a separate application, while others are awarded automatically based on the university admission application. Always check the specifics for each scholarship.
Deadlines and Requirements: Be aware of the application deadlines and specific requirements for each scholarship, such as essays or recommendation letters.
For students exploring financial aid options at Canadian universities and colleges, it’s beneficial to start by visiting the financial aid office or the institution’s official website for the most comprehensive and updated information on scholarships and other types of financial support.
Each institution typically provides detailed guidelines, including eligibility criteria, application processes, and deadlines.
Work-Study Programs
Work-study programs allow students to earn money while attending school. Universities and colleges often offer these programs and can provide valuable work experience and financial support.
Bursaries and Awards
Bursaries and awards are similar to scholarships but are typically based more on financial need than academic merit. These can come from various sources, including:
- University/college-specific bursaries
- Community organizations and foundations
- Employer or professional associations
Crowdfunding and Fundraising
In recent years, crowdfunding platforms and personal fundraising efforts have become increasingly popular ways for students to finance their education. These can involve creating online campaigns or organizing local events.
Some popular crowdfunding platforms in Canada include;
GoFundMe
GoFundMe is the most well-known crowdfunding platform globally, and it stands out in Canada for its versatility and user-friendly interface.
It benefits students who must raise money for tuition, study-abroad programs, or emergency funds.
With no platform-specific fee on personal campaigns in Canada, GoFundMe allows students to keep more of their raise, making it an attractive option. The platform’s robust sharing tools also make it easy to spread the word through social media, increasing the potential for donations.
Kickstarter
Kickstarter is ideal for students who want to fund creative or innovation-driven projects, such as tech gadgets, films, music albums, or art installations.
The platform operates on an “all-or-nothing” funding model, meaning fundraisers must meet their financial goals to receive any money. This model can inspire confidence in backers, knowing that their funds will only be used if the project has enough support to be completed.
FundRazr
Based in Vancouver, FundRazr is a platform that prides itself on its deep Canadian roots while maintaining a global reach.
It is an excellent choice for students due to its low fee structure and the ability to create campaigns for various causes, including educational fees, sports team funding, and more.
FundRazr’s intuitive campaign tools make it simple for students to set up a fundraiser, tell their story effectively, and engage with supporters.
Part-Time Employment Apps and Platforms
Many students supplement their income by working part-time jobs on or off campus. This can provide valuable work experience and help cover educational expenses.
These apps include;
Instawork
- Instawork provides access to a wide network of part-time and full-time workers, including roles in hospitality, retail, warehousing, and more.
- It allows you to search for and directly connect with potential candidates, and you can fill shifts within hours.
- They offer features like GPS tracking, time clocks, and insurance coverage for workers.
Indeed Flex (Formerly Syft App)
- Indeed Flex is an online marketplace that connects businesses directly with available temporary workers, primarily in the hospitality sector.
- Allows workers to create profiles and apply for job openings posted by companies.
- Handles payroll and administrative tasks for the employer.
Flexy
- It helps job seekers find temporary work across various industries, including hospitality, retail, and warehousing.
- Provides features like shift scheduling, payroll management, and worker vetting for employers[2]
- These platforms and apps offer a convenient way for students in Canada to find part-time, temporary, or gig work opportunities that fit their schedules and skill sets. Quickly connecting with employers and taking on shifts as needed can be particularly beneficial for students.
Conclusion
In exploring the various funding sources available to Canadian students—from government grants and scholarships to innovative crowdfunding platforms—it is clear that multiple opportunities exist to support educational endeavors.
Each platform and program offers unique benefits tailored to student’s diverse needs, whether they seek immediate financial relief or long-term support.
As students check out these options, the importance of effective financial planning becomes evident. Managing multiple funding sources, especially involving loans or part-time jobs, can be complex and sometimes overwhelming.
This is where innovative solutions like GratifyPay come into play, offering a practical approach to managing educational expenses.
GratifyPay specializes in providing students with installment plans for their tuition fees, allowing them to spread the cost of education over time. This service is invaluable for those who might not qualify for sufficient grants or scholarships and who wish to avoid the burden of hefty loans.
We encourage students to consider integrating GratifyPay’s installment plans into their financial strategy.
By doing so, they can take control of their educational financing, combining scholarships, bursaries, crowdfunding, and flexible payment options into a cohesive plan that supports their academic and career goals without compromising their financial health.