At VCAD, we are proud to offer you the personalized support of a Student Financial Planner, who will provide you with information on financing options and help you work out a payment plan that meets your educational needs.
Options available to you may include:
Government Assistance (Loans & Grants)
We have partnered with major financial institutions to provide preferred lending arrangements for VCAD students that are flexible, affordable, and easy to obtain. Here are some of the highlights:
- Available to Canadian citizens and permanent residents enrolled in full-time or part-time post-secondary studies.
- Interest rate is variable and the loan amount is based on an individual credit assessment.
- Pay monthly; interest-only payments on the funds you use, not on the total line of credit.
- Enjoy a six-month grace period of interest-only payments after graduation.
Registered Retirement Savings Plans (RRSPS)
You are able to withdraw money tax-free from your RRSPs for full-time education, either for yourself or for your spouse/common-law partner.
Registered Education Savings Plans (RESPS)
RESPs permit savings to grow tax-free until the student beneficiary is ready to enroll full-time in a qualified post-secondary institution such as VCAD. An RESP also allows the student to apply for the Canadian Education Savings Grant.
Other Sources of Assistance:
HRSDC & WorkSafe BC Funding
Eligible students can be sponsored by government agencies such as WorkSafe BC (Workers’ Compensation Board) and Human Resources and Skills Development Canada.
Corporate Reimbursement Programs
If you are currently employed, you may be eligible for tuition reimbursement through your employer’s benefits program.
MADD Canada Bursary Fund
The MADD Canada Bursary Fund is for Canadian students who have had a parent or guardian killed in an impaired driving related accident and are pursuing an eligible full-time educational program. Bursaries of up to $2,000 can be awarded to qualifying students across Canada.
From time to time, VCAD offers scholarships for specific programs to eligible students. Ask your Student Financial Planner if you qualify for one or more of these programs. It is important to note that there may be additional sources of third-party funding available to you. Many private businesses and community groups offer grants and scholarships to eligible students. Inquire with organizations in your area for more information.
You will be informed of all fees related to your program of study during the admission process. Program costs may include fees for tuition, registration, learning guides, kits, and course materials. Tuition may be paid through student loan disbursements or by cash, cheque, VISA, MasterCard, or Interac.
Contact your Student Financial Planner to set up an interest-free payment schedule that fits your needs and budget.