Budgeting for Your Education
Prepare a personal budget! Reduce student debt! Explore financial aid options!
To minimize your overall debt upon graduation it is important to develop a personal budget each academic year. It's never too late to start! Your personal budget shows you where money is being allocated (total income less total expenses) and details fixed costs (tuition, books, rent etc.) & variable costs (phone bill, utilities, etc.). Budget for an emergency situation so that you have funds to draw upon in an unexpected situation. Financial Aid and Awards also offers a Student Money Management workshop at the start of fall and spring terms.
Budget Worksheet (PDF)
Options for Financing Your Education
- RESPs
Intended for educational purposes, have you or your family invested in a Registered Education Savings Plan that you may be able to withdraw funds?
- Savings
Have you been able to put some funds aside? Do you have any investments?
- RRSPs
Under the Lifelong Learning Plan (LLP), you may be able to withdraw funds from your Registered Retirement Savings Plan to finance your education.
- Family
Are there any family members who may give or lend you some funds for your education?
- Assets
Do you own any assets such as a valuable car or property which you can consider selling to help pay for your education?
- Work
Not only can you save from your summer job earnings, but you might be able to work part-time while you are attending school.
- Co-op
Does your program of study offer a co-op option?
- Scholarships, Bursaries, Awards and Grants
Non-repayable “gifts” from donors available through Capilano University as well as through external award sources
- Government Loans
Full-time students in British Columbia may apply for government student loans through StudentAid BC, provided you meet the residency requirements. See www.studentaidbc.ca Students from out-of-province, part-time students, and U.S. students meeting eligibility requirements for U.S. Direct Loans may also be eligible for student loan funding.
- Student Lines of Credit
Student lines of credit (private loans) are available through many banks and credit unions. Contact a banking institution to determine if you qualify for a student line of credit or other student products that may assist you with your financial needs. The following websites are meant as a guide only. Most banks have a section dedicated to student services.
| Bank | Website |
|---|---|
| Bank of Montreal | www.bmo.com |
| CIBC | www.cibc.com |
| North Shore Credit Union | www.nscu.com |
| Royal Bank | www.rbcroyalbank.com |
| Scotiabank | www.scotiabank.com |
| TD Canada Trust | www.tdcanadatrust.com |
| VanCity | www.vancity.com |
- Financial Literacy
The Financial Consumer Agency of Canada provides a helpful website on financial literacy (banking, credit cards, lines of credit, budgeting, loans, etc.) Note: Financial Aid and Awards does not endorse any particular information provided: Financial Consumer Agency of Canada
EMERGENCY AID
Emergency bursary funds are non-repayable financial assistance to students demonstrating an unexpected financial emergency during the term which the student is enrolled and where all other sources of income have been exhausted. An emergency bursary is not meant to cover day-to-day expenses to complete the study period, but is a limited one-time only amount to assist with the emergency situation. An appointment with a Financial Aid Officer is required. Please contact finaid@capilanou.ca / 604-984-4966
