Financial Aid & Resources for Canadian Students/Citizens
As part of our service, we advise our registered KOM students on various financial aid programs. Please, contact us for an individual consultation.
Federal and Provincial Canada Student Loan Program
Students may be able to utilize the Federal and Provincial Canada Student Loans program to fund their international studies. Universities in Australia are designated schools for the loans program. Please, contact us for details.
For information and applications: www.canlearn.ca In Quebec: www.afe.gouv.qc.ca
Canadian Financial Institutions
Student loans in Canada help post-secondary students pay for their education in Canada. The federal government funds the Canada Student Loan Program (CSLP) and the provinces may fund their own programs or run in parallel with the CSLP. In addition, Canadian banks offer commercial loans targeted for students in professional programs. Most Canadian banks offer student loans. Terms and conditions may vary.
Registered Education Savings Plan (RESP)
A Registered Education Savings Plan (RESP) is a tax shelter, designed to benefit post-secondary students. With an RESP, contributions (comprising the investment’s principal) are, or have already been, taxed at the contributor’s tax rate, while the investment growth (and CESG) is taxed on withdrawal at the recipient’s tax rate. An RESP recipient is typically a post-secondary student; these individuals generally pay little or no federal income tax, owing to tuition and education tax credits. Thus, with the tax-free principal contribution available for withdrawal, CESG, and nearly-tax-free interest, the student will have a good source of income to fund their post-secondary education. Information about RESP and other federal education grants can be found at Revenue Canada, www.ccra.gc.ca
Tax Benefits:
Reference the following hyperlink: http://www.cra-arc.gc.ca/menu-e.html
Scholarships:
In addition to what scholarships and grants one might be eligible for in Canada, international students of KOM may qualify for special scholarships at their destination universities. KOM Consulting advises our students of the availability of these scholarships. Please, contact us for details.
Other Resources:
Check these other resources, too:
Your mother or father’s employer; your church or religious affiliated organizations; minority serving organizations; libraries; and book stores.