Don’t Let Your Budget Stand in Your Way: Ways to Pay for College

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Ways_to_Pay_for_College

There are plenty of benefits associated with pursuing a college education, like obtaining a fulfilling career, a great salary and of course, job security. However, there is also one slight disadvantage that many students are faced with during their training—tuition fees. Since school work and student commitments may limit the time you’ll be able to spend working, paying tuition might be difficult for some students. Fortunately, there are several supplemental ways of paying for your studies—whether you plan to take healthcare assistant training, or even earn a dispensing optician diploma.

If you are looking for a way to help manage your money and pay for your education, you might benefit from learning more about these great financing options.

Scholarships & Bursaries

Many colleges offer scholarships and bursaries to students who meet certain eligibility qualifications. Bursaries tend to be program-specific and based on a student’s financial need. Applicants are generally required to meet geographical or demographical conditions to be considered for a bursary. For example, Stenberg College is currently offering a $3500 bursary to residents of Vancouver Island who are enrolling into their upcoming medical laboratory assistant online program. Another way to gain some help financially is through winning an academic award or scholarship. Scholarships also look great on resumes, as they are typically granted to students who demonstrate excellence in academics, leadership and community service.

Student Loans

Another way to breathe easy during the entire length of a full-time program is to apply for a student loan. Student loans are administered by both the Canada Student Loan Program (CSLP)—which is funded by the federal government—as well as the student’s home province. The student is not required to pay any interest on the loan during the entire duration of his or her full-time studies. However, it is important to note that student loans are only available to Canadian citizens and permanent residents of Canada.

Employers Might Cover Tuition

This is a great option for individuals who are already working in their field of choice but would like to acquire more skills with the intentions of getting promoted to a higher position within that same company. For example, if an individual who is working as an active LPN would like to take an advanced leadership skills program for LPNs in order to make the transition from care provider to manager, his or her employer might foot the bill, as it would benefit both parties. This method is particularly beneficial, because the student will gain experience and a diploma, all while working in the field and earning a salary.

Can you think of any other ways to get help paying for a college education? Do you know any helpful advice for earning academic awards and scholarships?

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