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Funding your Post-secondary Education

While attending university is a great opportunity that can open many career pathways, it is also an expensive one. With this in mind, we held a workshop on an important topic - funding your post-secondary education.

How to Fund your Education

  • There are two main types of funding–non-repayable funding (money for school and living expenses that you keep) and repayable funding (must pay back with interest).

  • Types of non-repayable funding include:

  • Bursaries: based on financial need and usually funded by the University & generous donors.

  • Scholarships and awards are funds granted on a variety of criteria (e.g: academics, financial need, and community involvement).

  • Another common way students fund their education is by working part-time during the school year and/or full-time during the school year.

Types of repayable funding include:

  • OSAP provides eligible Ontario students with loans AND grants to help pay for education-related costs i.e tuition, books, compulsory fees, transportation, and associated living expenses.

  • SLOC is another avenue available to students from banking institutions who’ve received OSAP or who have not met the eligibility requirements for government funding.

Some costs associated with post-secondary education are outlined below. Look out for a future blog post on budgeting and money management.

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