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Scholarships and Money in Canada

Higher Education in Canada is expensive and its government subsidy given to citizens is forbidden for international students. This is because gaining an admission and obtaining a study permit is contingent upon having a solid financial backing. For international students especially from third-world countries, the financial commitment is often too much to cope with, which is why there are financial aid options available to international students that help fund their education in broad terms, these aid options are in three categories:

  • Grants
  • Loans
  • Scholarships


These are financial aids given to students to fund their education, they are granted on the basis of need and a student might have to undergo need assessment test to ascertain their status before getting a grant. Grants are mostly awarded by charitable organizations and government but universities may also offer it to students who meet specific criteria. Unlike loans grant are non – repayable but in the event where a student withdraws from school, such student is liable to refund back the grant. Some grants options available in Canada include Canadian Nurse's foundation and Kin Canada grants (only Canadians are eligible for this aid).


Loans are financial aids given to students to help them fund their education without too much distraction as a result of financial constraints. Loans are usually repayable after completion of studies and interests are charged. However, in the case of Federal student’s loans, the government pays the interest for the student, with the loan expected to be repaid within 6 months of graduation, However, there are certain circumstances where student’s loan could be forgiven or discharged. 

  • LOAN FORGIVENESS: Loan forgiveness or cancellation refers to the annulment of a borrower’s obligation to repay some or the entire remaining amount owed on the loan if the borrower works full time for a specified period of time for certain employers.
  • LOAN DISCHARGE: Loan discharge refers to cancellation of a borrowers obligation to repay some or all of the remaining amount owed on a loan the circumstances that may warrant loan discharge includes: borrower’s death, permanent disability or bankruptcy, school closure, or school’s false certification of a borrowers eligibility to receive a loan. Generally, international students in Canada are not eligible for government and private loans


Scholarships are financial aids awarded to students to enable them easily fund their education. Scholarships are mostly merit-based. Scholarships awarded to students usually cover all expenses from tuition fee, study materials, feeding to maintenance allowance – it is not repayable there are two categories of scholarships:

  1. Merit-based: Merit-based scholarships are scholarships awarded to students on the basis of their performance or exceptional abilities the most common types of this scholarships are: Academic scholarships, athletic scholarships, and community service scholarships.
  • Athletic Scholarships: These scholarships are awarded to students with exceptional ability in sports and it usually comes with the obligation to represent your college sports team.
  • Community Service Scholarships: These scholarships are usually awarded to students who have served their community it is a form of recognition and appreciation.
  1. Academic scholarships: These are scholarships awarded to students with outstanding academic records these scholarships are typically rewarded for an excellent academic performance and they are considered as the most prestigious.


These scholarships are usually awarded to students on the basis of certain conditions the most common types are scholarships are minorities and scholarships for women in Canada, there are several scholarships opportunities for all students, some notable ones include:

  • Banking post doctoral fellowships: These are Canadian government scholarship and fellowships offered to international students for post-graduate study in fields like natural and socials sciences or health research
  • Canada Graduate scholarships : This scholarship is targeted at students that are pursuing post-graduate degrees, either Masters or PhDs in any Canadian University or College.
  • McGill university scholarships and student aid: These are various funding opportunities; including the McGill enhance scholarship program and the PBEE – Quebec merit scholarship for foreign students
  • UBC Graduate scholarships: These are scholarships meant for masters and PhD
  • The Vanier Canada Graduate Scholarships: Available to world class Canadian and international PhD students enrolled at Canadian universities, Vanier CGS award grants of 50,000 USD annually for three years
  • Concordia University undergraduate scholarships: This program offers a very wide range of financial aid options. A total of 193 scholarships are available through this University’s  scholarship program for international students pursing undergraduate degrees in different fields, subjects and disciplines
  • University of Calvary graduate studies award: This program offers full and partial  scholarships up to 40,000 USD for international students
  • Anne Vallec Ecological fund: International students undertaking animal research studies at doctoral level in an accredited Canadian University within Quebec or British Colombia are the target of this Scholarship
  • Farleigh Dickinson scholarships for international students: International students undertaking all levels of degree programs are offered scholarships based on merit by the University

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