Digging up Sources of Funding for Higher Education

Digging up Sources of Funding for Higher Education

Decisions, Decisions Go on to higher ed or take a gap year? What program? What school? Full time, part time or co-op? College or university? Canada or International? Live at home? In residence? Off campus? The common denominator: How will you pay? 2

Common Sources of Higher Education Funding Students cobble together multiple sources of funding for higher education: 1. Government loans & grants 2. Help from family 3. Personal savings 4. RESPs 5. Private loans (banks, etc. ) 6. Scholarships & awards 7. Working while at school* The funding gap for the first degree or diploma, on average: $28, 300, 000 Outstanding student debt Source: http: //www. statcan. gc. ca/dailyquotidien/140225/dq 140225 b-eng. htm The funding gap explains why this number is so high! $27, 000 *Source: Scholarships. Canada/Higher. Ed. Points Study: “Not your parents higher ed” 3

A Funding Feast and Famine Merit-based: 10%-20% High marks & high achievers Financial need-based: 10%-20% All the rest 60%-80% THE “MIDDLE SIXTY” Parent income too high for needs-based & Marks too low for merit- based 4

Additional Sources of Funding *some digging required* 85, 543 awards worth $193, 531, 556 Campus Financial Aid Officers are your friends! “You can’t meet a deadline you don’t know exists!” one: s i h t ding inclu Stuck. At. Prom. com UNB has ONE application you can fill out to be considered for over 850 awards

Scholarship Facts Did You Know? • There is an award for you – There are over 85, 000 scholarships, bursaries and awards worth over $190 million available on Scholarships. Canada. com • You don’t need to have high marks – Many awards do not require an academic average • You don’t need to be in financial need – Only 32% require you to be in financial need • Your community service is important – 10% of all scholarships require school/community service or leadership (that’s over $10 million worth of scholarships!)

Scholarship Facts Did You Know? • There is no “scholarship season” – Deadlines occur all year round – (7% have deadlines in May; 6% are in October or April) • Scholarships come at different stages of your academic life – Entrance scholarships are for student going into college or university (19% in our Scholarships. Canada. com database) – Graduate scholarships are for students doing their master’s or doctoral studies – Automatic consideration scholarships mean you will be automatically considered just by applying to the school (24% in the Scholarships. Canada database) – Some scholarships are awarded during your studies (years 2, 3 or 4) and some are awarded at the end of your studies (upon graduation)

Scholarships. Canada. com

Advice: For Scholarship/Award Applications • Create a master list of all the awards and scholarships you are interested in applying for— and calendarize deadlines • Read the details—criteria, Terms and Conditions and note the deadline(s) • Apply for the awards best suited to your personal profile—and interests (they will be easier for you to complete because of your interest) • Re-visit the sites regularly to see what’s new 9

The Anatomy of a Scholarship Application “We believe that leadership deserves recognition. Tell us how you’ve been a community leader and you could be one of 20 students to receive a full TD Scholarship worth up to $70, 000. ” TD Scholarships for Community Leadership are open to students across Canada who: • Are in their final year of high school or CEGEP • Have a minimum overall grade average of 75% in their most recently completed school year • Have demonstrated community leadership • Are a Canadian citizen or Permanent Resident 10

1. A 600 -word essay (three copies) describing your community leadership experience. Tell us: • Why you got involved. • How your involvement shows initiative and innovation. • The ways your efforts have strengthened others. • How long you have been involved. • What you think the long-term impact will be. • How your community has affected you. • In addition, include a brief description of the range of your other community activities. 2. A letter of recommendation from your school. 3. Two letters of support from community groups. 4. Your academic transcript You also have the option of including: -A 250 -word essay (three copies) describing your family and personal life, for example your family’s employment or economic situation. -A 250 -word essay about your life experiences if you have taken a year or more away from high school or CEGEP. 11

Finding money on campus Before you go: • Visit campus website’s Financial Aid pages • On campus tours, be sure to visit the Financial Aid and Career Centers! Once you’re there: • Visit the Financial Aid office, introduce yourself to an Officer and check regularly for new awards (Go Dumpster Diving!) • Ask about campus Work-study programs 12

Higher. Ed. Points. com Turn loyalty points into an education

How Higher. Ed. Points Works. Parent t’s… n e r a p rand ’s, g ts Poin d E r e igh H Visit www. higheredpoints. comfor more details 14

Over 100 Participating Institutions: Visit www. Higher. Ed. Points to see the full list 15

Resources: Can. Learn. ca

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We’d love your feedback! Higher. Ed. Points: Suzanne Tyson, Founder & CEO suzanne@higheredpoints. com 416 -551 -8941 Scholarships. Canada: Chris Wilkins, CEO cwilkins@edgeip. com 416 -494 -3343