Start School This Year With These Funding Options [Guide]
Funding your education is the number one obstacle to starting post-secondary education. We don't all come from wealthy families that can pay for our schooling, so how to we follow our dreams when our bank account doesn't support us?
If you are hesitant about starting school because of the foreboding financial burden, you are not alone. We do not advocate for students to start school if they do not show some financial stability or means of paying for education, especially if it puts their family and life at risk. However, we have researched options that can help bring in the money to support your education. The following are four options that most commonly fund the education of our students. However, not everyone fits into those categories. Download our Funding Guide for Massage Therapy Education now to explore the less-common options that may provide you some much needed inspiration to chase your dreams!
Canada Student Loans
When you apply for a Canada Student Loan, you are actually applying for two loans and numerous grants. Once received, your application is verified to see if you qualify for any grants, which is money that you don't have to pay back. The next step is to see if you qualify for a Canadian Student Loan which are federally funded, interest-free loans while you are student, and finally a provincial student loan depending on the province you abide in. When you receive your assessment form, it will tell you how much you qualify for in each of these categories. Canadian Student Loans start to accumulate interest six-months after you have finished or withdrawn from the program. The maximum Canada Student Loan is $210 per week of study. Example: for a 34-week program, the maximum is $7,140 ($210 x 34).
To find out more about Canada Student Loans, click here.
Manitoba Student Loans
These loans are provincially subsidizes and interest-free. Your first payment must be made at the six-month mark, after you cease to be a full-time student. The maximum Manitoba Student Loan is $140 per week of study. For a 34-week program, the maximum is $4,760 ($140 x 34).
The Manitoba government is funding a new bursary which will provide Rural and Northern students with an additional $600 to help off-set the increased costs of accessing their education. You are automatically considered for this bursary when you complete an application for Canada/Manitoba Student Loans.
To find out more about Manitoba Student Loans, click here.
There are so many options to fund your education. It may seem a daunting task to research these options, but well worth it. If you ever need assistance, please don't hesitate to contact our Registrar, Erin Schofield or Admissions Coordinator, Brianna Blaire.