Why me, and why now???????????!!!!!!!

[Aaron]

ACS, being in my third year at uni, take it from me, finding sources of money won't be a problem. Depending on where you go (U of Manitoba for me) universities have hefty bursary programs that offer between $300-$1500 roughly for those students needing it. Canada has Millenium Excellence awards and bursaries for all stages of your education, and particularly large ones for those students just entering university from highschool. (http://www.millenniumscholarships.ca/en/students/Awards.asp)
(http://www.millenniumscholarships.ca/en/students/Bursaries.asp) And every province has a significant and fair student loan program.
Also, don't fret over relying on student loans for your education. A good practice would be to collect as much income as you can in your pre-university years, and have your parents save those monies in their account (as so you can't claim it on bursary and loan applications, hence making more money available to you) Use your money in your parents account to meet whatever extra funds are needed that aren't covered by the loans and bursaries/rainy day fund, as well as a pot in which you can use to finance your loan payback when you are finished. In hindsight, I wish I had done something like this, rather than spending the majority of my own money reserves to pay for uni.

Just make sure that there is a stipulation within the bank or in your parents wills, that the money in that account is your money, and is to be handed over to you in case anything happens to your parents.

Being on the farm, your actually one of the lucky few that has a basic sense of economics and financing. So many kids entering university have no idea what priorities are or how to manage their finances. Credit card companies love universities, and their are a lot of kids whose credit ratings are destroyed during their university years. Scholarships are a good thing, but be careful not to take on too many and be careful of the restrictions. Uni is a whole other ball game, and I know of many cases where a lot of frustration is created when kids are trying to determine how to keep their scholarships when their marks just aren't the same as they were in highschool.

Another option is Canada Access Grant for Students from Low-income Families (http://www.sasked.gov.sk.ca/branches/sfa/student_loans/reduce_debt/reducedebt.shtml)

Dependent students who are eligible for full-time student loans may also be eligible for this grant. The criteria extends to students who are in the first year of a multiple year post-secondary program and their net family income falls within the range of entitlement for the National Child Benefit.

The amount of the grant is based on 50 percent of tuition to a maximum of $3,000 and not to exceed the total amount of assessed financial need. The grant then replaces a portion of the Canada Student Loan, thereby reducing a portion of federal debt. If you are a Saskatchewan student, the National Student Loans Service Centre will contact you regarding your eligibility for the Canada Access Grant for Students from Low-income Families.


Lots of options, and even more on the way as education gets a bigger voice in Canada. Do some research and make your plans well in advance.