Read these 5 Paying For Your Canadian Distance Education Tips tips to make your life smarter, better, faster and wiser. Each tip is approved by our Editors and created by expert writers so great we call them Gurus. LifeTips is the place to go when you need to know about Canadian Distance Learning tips and hundreds of other topics.
There are both government and private scholarships for Canadian distance learners. Both traditional and online universities offer entrance and continuing scholarships. You need not be a new high school graduate to obtain a scholarship. Students can research Canadian scholarships through the following sites:
Canadian banks like Scotia Bank offer lines of credit to students enrolled in any university. These lines of credits are used to offset some of the expenses students incur while studying. Lines of credit are not as comprehensive as student loans and are not expected to cover the full costs of university. A Canadian co-signor is often needed for new high school graduates to obtain a line of credit.
Each province operates their own provincial student loan programs where students can simultaneously apply for both provincial and federal student loans. Federal loans cover 60 percent of a student's assessed need, while provincial loans cover 40 percent. Awarded scholarships from Canadian universities are deducted from the amount of aid given. Online universities are governed by the same student loan programs.
Canadian government student loans are limited to Canadian citizens and permanent residents. Students should check through their provincial Department of Education for specific rules and guidelines.
Students enrolling in online universities may be able to pay as they go. Open learning gives students more flexibility on taking and completing a degree. Being able to enroll at any time of the year gives students more control over their finances. Online university students need not pay for a whole year of university at once. Taking a few credit courses at a time gives more financial flexibility. You must pay for each credit course in full before you can begin studying.
An online university degree is comparable to the cost of an on-campus degree. University costs vary across Canada. Students enrolled in Canadian distance education, through the Canadian Virtual University conglomerate, may be able to lower their tuition costs.
Studying through the CVU allows students to take credit courses toward their degree from different institutions. Some institutions cost less than others so distance students can take advantage of this and lower the overall cost of their degree.