Education Grants – What You Need to Know

Government education grants are the best way to supplement the costs of tuition and other academic expenses. The cost of getting a post secondary education continues to increase here in Canada making it more and more difficult for students to pay their own way. And while there are all sorts of student loans available through local banks and provincial education funds, all of this money needs to be paid back and with interest. Thus education grants are the perfect alternative to costly student loans. This money can help you pay for your education and never has to be repaid.

Where to Find College and University Grants

Finding education grants has actually never been easier. They are available through public and private funding sources and can often be found in large databases dedicated to listing the most current grants available.

The government has even further facilitated the application process by making the new Canada Student Grants Program (CSGP), which consolidates federal student financial assistance grants into a single program for easy use. This means students can file one easy application that applies to up to 5 or more grants available. Students can qualify for government education grants based on any number of factors including low-income or middle income, permanent disabilities, academic excellence, and/or students with dependants. These grants range from $2,000 to $8,000 per school year, depending on a student’s financial need and qualifying circumstances.

Private education grants can also be found to help post-secondary education expenses. These grants are available through businesses all over Canada, as well as through non-profit organizations. These money donations are often referred to as scholarships and reward students who meet certain eligibility conditions. Many students automatically dismiss scholarships from their financial aid options assuming that their grades make them ineligible.

Yet with so many scholarships available today, many in fact are not based on solely your academic achievements, but rather individuals can qualify for this money based on: gender, race, sports abilities, artistic talent, field of study, and financial need. These money gifts tend to be larger donations than their government counterparts with students sometimes receiving upwards of $20,000 depending on the grant fund. Speak with local businesses, churches and foundations to see what’s available in your area.