Even though tuition is 40% cheaper at Douglas College than at the larger local institutions, the cost of education can sometimes be intimidating for new students. Fortunately, Douglas offers a number of solutions designed to help you take care of the financial side of your college experience. Take a minute to watch the video, or read more about each of these options below.
We refer to these types of financial aid as “free money”, because you don’t have to pay it back. The money is yours to keep, like a gift. In general, college scholarships are based on your academic or athletic performance, though private scholarships can be based on a wide range of factors, including your spare-time activities, ethnic background, or parents’ employer. Bursaries are based on your financial need, and awards are based on the specific academic program that you’re registered in. You can learn more about each of these options here.
Helpful tip: Apply for many different scholarships, even if you don’t perfectly fit the criteria they describe. Many organizations would rather give funding to a deserving student with a slightly different background than hold onto the funds, year after year.
No one likes to carry debt, but in the case of a student loan for your education, it can also be thought of as an investment in your future. Over time, the increased earning-potential you will have as a result of your post-secondary education will outweigh the initial debt you take on. In fact, students who get a Bachelor’s degree can expect to earn a million dollars more during their lifetime than students with just a high-school education.
Both federal and provincial loans are available to Douglas College students . But it’s important to remember that you should apply for those loans approximately two months before your tuition fee deadline, as it sometimes takes up to eight weeks to complete the process and receive your funding. You can find more information about applying for student loans here.