Financing your education with scholarships and bursaries
With tuition rising 135 percent in the past 10 years and the widespread dread of mounting student debt you have to be resourceful. Fortunately, financing for scholarships and bursaries has multiplied as well: four times in the last 20 years. The trick is getting your hands on one or more of the hundreds of financial gifts available today. Often, it's simply a matter of asking.
Understanding the difference between scholarships and bursaries
Basically, scholarships are about merit and bursaries about financial need. When applying for scholarships, your grades from your last year of high school are really what count. However, extracurricular and volunteer activities can sometimes help. Bursaries, though they primarily address need, may also consider outside activities like community work and athletics. Students with unique situations, such as single-parent homes, disabilities or particular ethnicities, may qualify for specialized bursaries.
Ask at home, school and around town
Your high school guidance counselor probably has access to a vast array of scholarships and bursaries, large and small. Among the most coveted are prizes awarded by the Canadian government's Millennium Scholarship Fund, and the privately funded Canadian Merit Scholarship Foundation, which also offers mentorship and travel. The competition is stiff, but it's amazing how many students are eliminated simply by not applying. It's not widely known that many Canadian companies also grant scholarships to the dependents of their employees. Ask your parents or grandparents to make some inquiries on your behalf. As well, if you belong to a sports team, church, service group or club, you may be eligible for a special member's award. Again, the first step is asking.
Surf the Internet
Marks and resumes have become the all-important currency in the competition for scholarships. So students are flocking to the Internet to find out what is available and what is required. Browse through scholarshipscanada.com, studentawards.com and www.aucc.ca, the site of the Association of Universities and Colleges of Canada. The AUCC accepts applications for a long and varied list of scholarships and awards. Their website is a wealth of information.
Contact your universities of choice
Many universities offer academic entrance scholarships for students with a high school average above 80 percent. In some cases, you are automatically considered for scholarships when you apply for admission. At other institutions, you may have to fill out a scholarship application. So before you apply to your favourite universities, inquire about their scholarship policies through the financial aid office.
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