How you will fund your post-secondary education?
Figuring this out is a crucial step to your success.
Let's build your funding plan!
Identify Existing Resources
Start by listing what you already have to help pay for post-secondary costs. This could be:
education savings plans
support from family
grants or scholarships you may already have
Remember to leave out your emergency fund or savings meant for important expenses.
Tap Into External Resources
You are not alone!
There are people that want to help make your education goals affordable.
Reach out for funding opportunities!
Colleges And Universities
Most universities or colleges have scholarships and bursaries.
Scholarships are awards for academic achievement or excellence in a particular field.
Bursaries provide assistance based on financial need.
Ask for a list of available scholarships and bursaries at the admissions office of your selected schools.
Are there funding resources available in your area?
Library: Your local library may have a career center or bulletin board listing local scholarship opportunities.
Groups: Many community groups, associations, and clubs offer scholarships and awards. Some could offer help through their larger national organization.
Businesses: Check with local business owners to see if they support local students.
If these groups and businesses don't currently offer support to local students,
ask if they'd consider it.
They may already be looking for ways to give back to the community, and this could generate good publicity in the neighborhood.
Already working or plan to start a job while completing your education?
Reach out to your human resources team to ask if you're eligible for any employee scholarships.
Ask your extended family to check if they can nominate you for a scholarship offered through their employers.
Federal, state, or provincial governments offer financial assistance to students in the form of:
Student Grants: funds that you don't have to pay back
Student Loans: funds that you need repay once you're done school
Ways to reduce the financial burden of student loans:
be aware of the loan's terms and conditions
use repayment assistance programs to build your repayment plan
Paul hasn't met the requirements for scholarships offered at his university. What's the most beneficial alternative funding plan for him?
Get a government grant
Sell his car
Get a student loan
Pay tuition with his credit card
It's time to build your funding plan!
When considering post-secondary education funding:
Remember: your search doesn't end when your first class starts. Make sure to review your plan regularly.
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This Byte has been authored by
Curriculum developer, technologist, trainer