Student Scholarships, Bursaries and Loans
Are you a western or central Canadian student looking to explore career opportunities in Nova Scotia? Are you from Nova Scotia but need money for school? An array of scholarships, bursaries and loans exist for students applying to career colleges in Nova Scotia.
Scholarship awards typically range in value from $200 - $3,000. These awards may be renewable and are based on either outstanding academic achievement, or a combination of outstanding academic achievement and leadership qualities. As well, students applying to career colleges in Nova Scotia may be eligible for bursaries, which are typically based on financial need. Federal and provincial government student loans and grants, commercial bank loans, and work-study programs (involving part-time work for full-time students on campus) are other sources of financial aid to get you to the school you want.
Student Scholarships and Student Bursaries
Scholarships--for high school students or students from other post-secondary institutions--are merit-based and usually awarded according to high academic standing. These scholarships may cover tuition and/ or residence costs. Bursaries are also available and are more typically based on a combination of academic achievement and financial need and/or achievement in other areas such as leadership and community service. These awards may be offered by high schools, career colleges, professional organizations, local or national businesses and charitable foundations. They may be available on a non-renewable or renewable basis. You may be able to access EI Retraining Programs if you have been on unemployment insurance at any time during the previous three years.
Student Loans and Grants
Financial aid in the form of student loans and grants is also available to students wanting to study at career colleges approved for NSSL (Nova Scotia Student Loans) and CSL (Canada Student Loans). Unlike loans, grants do not need to be repaid. For government loans, payments often do not begin until a student finishes the program, and the interest rate is generally lower than for other types of loans. For students with no established credit record, it is usually easier to get student loans than other kinds of loans. Some career colleges have agreements with financial institutions, which offer student lines of credit.
You can obtain information on Canada Student Loans, Canada Study Grants, Canada Access Grants and specific cultural-based grants (like the short-term, job-specific Grants for African Nova Scotian Youth) from your high school career counsellor or your provincial financial aid website. The provincial site details the different types of financial assistance available to students in the province, and national aid is typically tenderable across Canada. Many career colleges in Nova Scotia also offer financial aid information and student loan calculators, so call or look on their websites. Applications for Nova Scotia financial assistance can be submitted online via the Nova Scotia government's Student Assistance site.
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