There are many forms of assistance available to help students cover educational expenses. Those most encountered are grants and loans.
Grants
A grant is money given to a student for educational expenses, which does not need to be repaid. Below are examples of different types of grants:
- A government grant can be awarded based on student need such as:
- Canada Student Grant for Full Time and Part Time students
- Canada Student Grant for Students with Disabilities
- BC Access Grant
- BC Access Grant for Students with Disabilities
- Scholarships are funds awarded in recognition of superior scholastic achievement.
- Bursaries are awarded based on need and satisfactory academic achievement.
- Awards are given in recognition for a noteworthy contribution made by a student to the University or community. In most cases, awards are presented as prizes, medals, certificates, or trophies; however, some are monetary.
Loans
A loan is money awarded to a student for educational expenses, and it must be repaid.
- An interest-free loan is a loan that must be repaid but without any interest being charged, for example:
- All BC and Canada Student Loans
- Parents
- Special Organizations, e.g. Canadian Forces
- A low/moderate interest loan or Line of Credit are acquired from a bank, e.g. Bank of Montreal, Bank of Nova Scotia, Envision Financial.