National Student Loan.ca want to help you navigate the different options and loan products offered to financing your education and also budget your way to success.

Education is the most important investment of your lifetime. As the word investment implies, you will have to put in a lot of time, a lot of hard work and also a lot of money.

Post Secondary Education is costly
So how much costly really is post secondary education? According to official government sources,  attending full time post secondary school or university currently costs between $2,500 to $8,000 per year in tuition alone, depending on the program you attend. You will need add to that:

• Student fees – Schools and institutions often charge special fees on top of tuition to help funding special services or particular event.
• Supplies - Depending on the program you may need special tools or a computer. You will also always need the regular office stuff.
• Books - The cost of book can really add up to the total amount for your education.
• Transport – How are you going to get yourself to school ?
• Living expenses – Depending the region of Canada or city where is located your school, this can be an overwhelming part of your total cost. Particularly rent and food but also Internet connection, phone line or cellular phone, entertainment, etc.

On average, this totals roughly to $15, 000 per year; $60,000 for a four year program. Clearly, you will need to have a carefull planing to get through it and succeed.

Explore all the sections of this site before you rush into any decision. We compiled tricks, guides, facts and resources to help you in making the right choices:

Saving and budgeting

Scholarships and grants

Student loans

Save money today
First of all, all the money you can save before you jump into your student career is that much less you will have to care about. If you currently have a job, try and put aside as much as you can every week starting right now.
Let’s do a little math: if you currently earn $200 a week working part time or summer job, can you spare 25% of that amount every week ? If you still have 6 months in front of you before entering University than that is $50 X 24 weeks = $1200! That’s a whole lot of food or whatever else you will need.

Keep your expenses low
Rent and related bills is a big part of living expenses. Try and find roommates if you have your own rent or find someone who will take you in with them. Most schools have message boards someplace where you can pin on roommate offers or speak with someone at your school student association.

If electricity is not included in the rent, keep the heat down at the most, at least when nobody’s home or in the night while sleeping.

Cut up the credit card
Don’t use credit cards at all. Interest rates will spiral you down into hard to get out situation. If you must use a credit card, then ALWAYS pay the complete bill at the end of the month.

Use public transportation
If you can spare having a car while you attend school then do not think it over. Furthermore, if you currently have a car then sell it and save the money. Commute your way to school and home by foot, on bicycle or use the public transportation system. Paying for a car at that crucial moment is a luxury.

Learn to cook
If you are not use to cooking yourself healthy meals than go head and learn it. There is plenty of useful and free resources on the web to start you off with cooking and meal planing. Eating in restaurants and at the school cafeteria is very expensive on the long run and usually not the most healthy of choices. That way you will save on money and keep yourself fit for long days of hard thinking and work.

Find a part time job
If you can manage to work a day or two evenings or the week end that will make you much needed spare money. Try and find a job in a cafe or other service job where you may get a slow shift that will make it possible to read a little or study sometime.

All in all, you just need to be conscious that every dollar that you not spare is that much more that you will owe at the end. Keep yourself disciplined and stay vigilant of every opportunity to save a dollar more.

Keep on reading with the other sections or revisit the one you speed over:

Scholarships and grants

Student loans

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Think about it realistically
If you are going to need a loan to go thorough then get a clear head about it. Cut and keep it to the minimum needed amount and spare anything along the way that you overestimated. Be very careful not to fall in the trap of excitement about that money which may seem a considerable sum as it appears in your bank account. In fact, it is not that much and surely it is less than you truly would need.

Different types for different provinces or territory
Whether you live in Ontario, in Quebec or in a territory, you will have to apply on different programs. In any case, consult the provincial government of your current place of residence. It does not matter where your will be going to school, you current province of residence is where you need to look.

Available for studying abroad
Even if you planed to study abroad, you ma be eligible to a full time student loan. Just make sure the school you are looking at is recognize by the government as “designated institution“. Again you need to consult with the provincial government of current province of residence.

Time limits and max amount
There is a lifetime maximum amount of loaned money you can get. This amount varies upon you financial situation. Also there is a time limit to the free interest period. Once this period is over, you will have to repay your loan capital of course but also the running interests and this will aply even if your still in school. Be sure to ask and know of all the details.

Choose the right bank
Many bank and financial institutions are in the market for those government guaranteed loans and all are not offering the same quality of service. Be sure to check closely all offers and be ready to read closely into the fine prints of your contract. If you shop this thoroughly, you will end up with a lot of benefits and savings.

If you did not allready, be sure to check on the other sections of the site to make the most out of you student loan experience.

Saving and budgeting

Scholarships and grants

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Governments offer them, of course, but did you know that some companies, organizations and even private citizens do sometimes and under certain circumstances offer generous scholarships, grants and bursaries ?

There are many
There are almost as many grants and bursaries as there are education programs and types of student. To name a few:

• Apprentice Incentive Grant
• Canada Study Grants
• Provincial and territorial grants

And many more. Simply Google for “Canada grants and bursaries” and you will find wealth of information on each specific one and all the necessary paper work to submit them.

Studying Abroad
We now live in a global interconnected world. Studying abroad comes with many advantages. If the foreign school you are interested in qualifies as a “Designated Educational Institution” then you may be eligible to a special kind and very attractive incentive scholarship. Check this with the Student Assistance Office of your province or territory.

With a little research and work, you just might find yourself several hundreds and even thousands of dollar richer to start your education. Do your homework and find those grants you are eligible to apply for.

Keep reading the other sections for more tips:

Saving and budgeting

Student loans

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