StudentAidBC helps with the cost of post-secondary education through BC and Canada student loan programs, training grants for in demand occupations, and scholarships. StudentAidBC also provides information on the costs of post-secondary education, working with individual institutions to process student loans, grants and scholarships, and offering programs that help with loan repayment. See Frequently Asked Questions for more information on StudentAidBC.
Types of Financial Aid
- Awards recognition for a significant contribution in various area(s) of expertise. They acknowledge the contributions that are made by students and may have a monetary value.
- Bursary funds used to support students who are in need of financial assistance and have satisfactory academic achievement. Each institution has a bursary program that students can inquire about. See Scholarships and Bursaries.
- Grants funds awarded to students to help cover their educational expenses. Grants do not need to be repaid. Financial aid advisors at each institution can help students apply for grants.
- Interest-Free Loan loan that is interest free, but requires the principle to be repaid. Some students arrange interest-free loans from their parents. There are employers that will provide interest-free loans to their employees if they are attending post-secondary. The Canadian Forces provides interest-free loans to their members.
- Moderate Interest or Line of Credit Loans - bank loans that provide students with moderate interest level loans or a line of credit for education funding.
- Scholarships- funds awarded to students for outstanding scholastic achievement. See Scholarships and Bursaries for more info.
- Student Loans - both BC and Canada provide student loans. These loans are based on financial need and are interest free while you are in enrolled in full time study. One application to StudyAidBC covers application to both the BC and Canada student loan program.
- Work Study - a program offered on campus by most institutions. It provides part-time paid work on campus that fits around the student's schedule.
- Assistance for Former Youth in Care - former BC youth in care students between the ages of 19-24 years of age are eligible of up to $5,500 in funding to put towards their post-secondary education. If you have been in the care of the Ministry of Children and Family Development or any delegated Aboriginal agency you may be eligible. See Eligibility and How to Apply for more info.