Types and Availability
Funding to assist with the payment of tuition fees and living expenses may be available through a number of agencies both within and outside Canada. Students who find themselves in need of financial assistance should explore different funding avenues. For the most part, important financial assistance sources are explained below under two sources, namely 1) internal, and 2) external.
1. Internal Funding Source
The College may, on occasions, offer a scheme of financial assistance by way of bursary and/or scholarships. Bursary awards (tuition fee discounts) have very limited application and may range upto $2,000.00. They aim to offset specific costs associated with studies (e.g. textbooks, homestay, field work, data collection and the like). On occasions, as well, full or part scholarship may be available. A part scholarship is simply a full tuition fee waiver or the award of part tuition fee and homestay costs (room and board). Full scholarship, on the other hand, covers the award of an amount equivalent to the cost of tuition fees and homestay for the duration of a particular program of study.
Internal Source Goal: In all, the overarching aim of these awards is to help eligible and competent students (national and international) embark on their studies and successfully complete them with minimal financial inhibition. In the specific context of international campaign, these awards form a means of attracting intellectually capable overseas students, particularly into programs of study at the College with disproportionate representation of international students. The selection of applicants for the scholarship and bursary awards is based on the criterion of academic merit and/or personal need.
Internal Source Awards Procedure: The institution’s procedure on selecting eligible candidates for its bursary and scholarship award schemes is very open and all-inclusive. Financial awards are based on the criterion of academic merit and/or personal needs, and do not bear on gender, sexual orientation, race, creed, religious belief, etc. All applicants are required to complete the relevant application form. The award decision is made by a specially constituted Financial Awards Committee, comprising a) the College Director, b) the College Human Resources Director, c) one member of the faculty, and finally d) a student in good standing from the program of study in which the applicant(s) is being considered for an award. All candidates are required to complete the Scholarships and Bursaries Application Form, and return it by the specified dead-line. Application Forms may be obtained from the Registrar’s Office.
2. External Funding Source
A number of externally administered funds (e.g. Canada Student Loan, HRSDC funding scheme, Bank Line of Credit, Workers’ Compensation Board (WCB), First Nations and Native Bands, Agency/Government Scholarships, scholarships and bursaries by corporations and service agencies, etc.) may be available to eligible candidates. Students are encouraged to enquire and apply for these funds through appropriate agencies. Overseas students should note that some of these funds (e.g. HRSDC, Canada Student Loan, etc.) may be restricted to Canadian Citizens and Permanent Residents. Further details on the external sources of financial assistance follows.
External Source Details
i) Workers’ Compensation Board (WCB): If you are on or being considered for Workers’ Compensation benefit, our programs may be a good option for job re-training purposes. Advise your WCB counsellor or worker to contact or look us up for information on a program that may suit your needs.
ii) Service Canada Funding: Service Canada funding may be available to eligible applicants across Canada. If you are interested in HRSDC funding, please contact your local HRSDC for information. Metropolitan Community College will assist you by providing the program information required by HRSDC to process your funding application.
iii) CanLearn: CanLearn is a detailed and comprehensive website of the Canadian government that provides useful funding information to prospective students so they will be able to make an informed decision on what program and which institution to study, as well as available funding options.
iv) RRSP Life Long Learning Program:This provides information on Lifelong Learning Plan (LLP), which allows you to withdraw accumulated sum of money from your RRSPs to fund your education or that of your spouse or common-law partner. These funds are not required for inclusion in your income, although they must be re-paid over a period of years.
v) Student Line of Credit: Student Line of Credit can be obtained from your bank or credit union. These loans are specifically designed for students attending post-secondary institutions (colleges and universities alike).
vi) First Nations Education Funding: First Nations have access to funding (grants and contributions) from the Aboriginal Affairs and Northern Development Canada to support First Nations and Inuit post-secondary educational advancement. Contact your band council or education coordinator for more information.
vii) Corporations and Agencies’ Scholarships and Bursaries: A number of companies and agencies offer scholarships (based on academic performance) and bursaries (based on needs) to attend colleges and universities in Canada. If you are interested, you should do an on-line search of possible awarding institutions. Often, agencies and corporations provide scholarships and bursaries to their employees or relatives of their employees, and these awards are not customarily published. The size of funding varies, and can range upto $5,000.00 or even more. Companies and agencies you may want to approach include, but are not limited to financial institutions, large corporations and volunteer service agencies below.
a) Banks and Credit Unions
b) Canadian Legions
c) Rotary Clubs
d) Food Chain Companies (such as Save-On-Foods, Safeway, Costco, etc)
e) Tim Horton’s, McDonalds, etc
f) Telecommunication Companies (e.g. Telus, Rogers, etc)
Here are the things to know:
1. If you or a relative works for or is/was a member of any of these institutions, then use such family ties as a leverage.
2. You will be surprised by what effective communication and good approach will bring about.
3. Enquire with the Human Resources Department (where applicable) of these corporations for direction.
4. You have nothing to lose, but a lot to gain.
5. In your enquiry, always be cautious and sensitive to companies’ daily operational constraints. When this is done, perhaps success will be had!
viii) Canada Student Loans and Grants: Metropolitan Community College is fully registered with and designated by the Private Training Institution Branch (PTIB) of the Advanced Ministry of Education, British Columbia. As such, student loans and grants from the provincial and federal governments are attainable at the College.
Students who are residents of provinces other than British Columbia must apply for provincial and federal loans from their province of residence. When doing so, please contact the College first for information on our program code, start and completion dates of your program of interest. Or, you can obtain this information by visiting Student Aid BC website.
Below are links to different provincial student financial aid sites across Canada. Please check for your province. Note that if you are applying on-line within BC or applying from a different province, simply select the ‘Apply for a Student Loan Online’ link on the Student Aid BC site. Again, you will need to contact the college first to get information on our program code start and end dates. This code can be equally obtained from the Student Aid BC website.
Saskatchewan – www.aeei.gov.sk.ca/student-loans
Manitoba – www.gov.mb.ca/educate/sfa
Ontario – osap.gov.on.ca
Quebec – www.afe.gouv.qc.ca/en/
New Brunswick – www.studentaid.gnb.ca
P.E.I. – www.edu.pe.ca/studentloan/guide
Nova Scotia – studentloans.ednet.ns.ca
Newfoundland & Labrador – www.edu.gov.nf.ca/studentaid
Nunavat – www.edu.gov.nu.ca
Northwest Territories – www.nwtsfa.gov.nt.ca
Yukon Territories – www.education.gov.yk.ca/advanceded/sfa
Some of the benefits of a student loan include:
• Apply as a part-time or full-time student
• Quick application results – if you apply online you may see estimated results immediately
• Interest-free status on students loans while you are in full-time studies
• Provincial and federal grants and bursaries available for students with permanent disabilities
• Attractive interest rates when you enter student loan repayment
• Canada grant for part-time and full-time students with dependants
• You may get help repaying your loans
The eligibility requirements for the BC student loan are:
• Be a Canadian citizen or have permanent resident status
• Be a resident of British Columbia
• Prove financial need
• Maintain passing grades
• Have a valid social insurance number that does not start with a 0 or 8
• Be enrolled in an eligible post-secondary institution
For detailed information on eligibility, visit Student Aid BC.
Students with permanent disabilities
Students with a documented permanent disability may study full- or part-time and be qualified for financial assistance.
Other Grants and scholarships
There are many other available programs of grants and scholarships that can help with the cost of post-secondary education, but which do not have to be repaid.
The table below is a list of available grants and scholarships. Click on each program for more information.
ix) International Scholarships and Grants: International students looking for funding should enquire with their respective federal, local, provincial or state government’s ministries responsible for education. Those from Commonwealth countries may want to enquire about the Commonwealth Scholarships in their countries. Rotary Clubs are also an important source of consideration for scholarships. Here is a useful Scholarships and Grants Database link for international students: www.ischolarshipgrants.com.