Financial aid and scholarships to study in Canada

A scholarship is a financial or logistical assistance granted to a student so that he or she can continue his or her graduate studies. They may be granted by the government or a foreign country. Like scholarships to study in Canada. They can also be a source of assistance to foreign students already settled in Canada who wish to pursue graduate studies. Generally, they are not repayable, but require good results. Selectors are mainly looking for excellence in applications. Since Canada is an Anglo-Saxon country, work experience and the volunteer system count for a large number of points in obtaining scholarships in Canada, at the provincial level.

What is a bursary?

As in all scholarship countries, in Canada there are three specific models: the first is the scholarship that is offered par excellence, i.e. based on the evaluation ranking. In this view, the better a person’s performance, the more likely they are to be awarded a scholarship. Then there are scholarships as economic assistance. That is to say, other countries are committed to supporting higher education students in their own countries. And then there are student loans, usually in developed countries to finance their own education. For a single student in Canada it takes about $10,000 to complete a year of study. For a person who is responsible for another person, it takes an additional $4,000 for the year. And if this number changes, an additional $3,000 must be added for the year for each person to come. Of course, the resources must be proven and justified to validate all the administrative formalities. Not to mention the logistical costs involved, such as rent, health insurance and food. However, it is useful to note that the above-mentioned amounts may vary according to the age of the persons concerned. Basic for a person who is 18 years old, it requires $6,000 in expenses. 12000 for one person over 18, $18000 for two people over 18 and $20,000 for two people over 18 is a person under that age.

Help through excellence

It is commonly known in English as scholarships. It is used to reward the most diligent and deserving. It is based on scholastic and academic results. They can be at the bachelor’s, master’s or doctoral research project level. As mentioned earlier, the so-called excellence scholarships are not to be reimbursed. They are offered without any return compensation except for good results. It is therefore not uncommon for professional or governmental organizations, private institutions or even governments to offer this type of scholarship. In practice their number is quite small and only the best in law. The process is then done by invitation to tender and the interested parties apply on the basis of their achievements. According to eligibility criteria, an initial selection is made to define the most deserving profiles. Then a selection process is established, a bit like a recruitment circuit. Of course, for more information, it is advisable to contact directly the organization in charge of disseminating information for scholarships to study in Canada.

An economic stock exchange

An economic grant is awarded for strictly economic reasons. Unlike the excellence scholarship, it is awarded on the basis of need. Of course, the notion of excellence or exemplary academic achievement has a major influence on the application file. It is therefore not refundable. The bursary holder is only required to have good results at the risk of being excluded from the program. This type of scholarship is offered directly by institutions for the most part. This is the case for universities. The financial assessment consists of defining that a person is well deserving of the assistance he or she is applying for. The information required is therefore focused on the parents’ income.

Student loans

International students may also immigrate to Canada initially to work. Later, they express the desire to pursue or continue their higher education. It is therefore possible for them to take out student loans. These loans are granted under the same conditions as loans granted to persons born in Canada or persons who have acquired a long-term residence permit in Canada. Contrary to the scholarships mentioned initially, this one is fully repayable with an interest rate. Failure to meet the deadlines therefore results in a direct penalty on the loan. In order to repay their loans, borrowers may work up to 20 hours per week in off-campus and on-campus services. If necessary, they can work full-time during the holidays.

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