Boost Your Chances of Securing a Grant, Bursary or Scholarship – Royal Bank
Accounts
Accounts Overview
RBC Vantage
Explore Account Types
Chequing Accounts
Cross-Border Banking
Savings Account
Youth and Student Banking
Earn More with RBC
Value Program
Chequing Products
Advantage Banking
Advantage Banking for Students
Day to Day Banking
Signature No Limit Banking
VIP Banking
US Personal Banking
Savings Products
High Interest eSavings
Enhanced Savings
Day to Day Savings
US Savings
Leo’s Young Savers Account
Tools & Resources
Account Selector Tool
Compare Chequing Accounts
Compare Saving Accounts
Customer Service
Managing Your Bank Account
Wire Transfer
International Money Transfer
Virtual Visa Debit
Direct Deposit
Additional Account Services
Credit Cards
Credit Cards Overview
View All Credit Cards
Travel Cards
Rewards Cards
Cash Back Cards
Low Interest Cards
No Annual Fee Cards
Student Cards
Business Cards
Tools & Resources
Help me Choose a Credit Card
Company Credit Cards
Credit Card Cash Back Calculator
Frequently Asked Questions
Cards Advice: How Do I…
Improve my credit score
Reduce my credit card interest
Pay my credit card bill
Manage expenses with credit cards
Protect from credit card fraud
I’m a Cardholder
Activate My Card
Cardholder Resources
Report Lost or Stolen Credit Card
Add an Additional User
Benefit Guides and Insurance Documents
Optional Add-On Services
Mortgages
Mortgages Overview
Mortgage Rates
Mortgage Products
Manage Your Mortgage
Special Mortgage Offers
Connect with a Mortgage Specialist
Get Pre-Qualified in 60 Seconds
Your Next Move
Buy Your First Home
Buying Your Next Home
Renovate Your Home
Buying an Investment Property
Buying a Vacation Home
Renew Your Mortgage
Switch Your Mortgage to RBC
Refinance Your Mortgage
Tools & Resources
Mortgage Payment Calculator
Home Value Estimator
Rent or Buy Calculator
All Mortgage Tools & Calculators
Personal Loans
Loans Overview
Personal Loans
Lines of Credit
Student Lines of Credit
Home Improvement Loans
RRSP Loans
Car Loans & Vehicle Solutions
Car Loans Overview
Car Loans Through a Dealer
Loans for Electric Vehicles
Financing Your Boat or RV
Business Vehicle Solutions
Buying Your First Vehicle
Buying Your Next Vehicle
Managing Your Car Loan
Car Loan Prequalify Calculator
Tools & Calculators
My Auto Affordability Tool
Car Loan Calculator
RV & Marine Locator
Loan Payment Calculator
Debt Consolidation Calculator
Compare Lines of Credit & Loans
Pay Down Debt & Improve Cash Flow
Loan Calculators
Investments
Savings and Investments Overview
Popular Accounts & Products1
Tax-Free Savings – TFSA
Retirement Savings – RRSP
First Home Savings – FHSA
Education Savings – RESP
Guaranteed Investment Certificate – GICs
Mutual Funds
Exchange-Traded Funds – ETFs
Stocks and Bonds (RBC Direct Investing)
ESG Investing
All Investments Accounts and Products
Ways to Invest
With Access to an Advisor
Low-Efffort, Automatic Investing (RBC InvestEase)
Trade and Invest Yourself (RBC Direct Investing)
Purchase Investments
Advice and Planning
MyAdvisor
How to Save and Invest Guides
Retirement Planning
Financial Planning (RBC Financial Planning)
Customized Wealth Planning (RBC Wealth Management)
Resources and Tools
All Investment Tools & Calculators
TFSA Calculator
RRSP Calculator
GIC Selector
Compare GICs
Retirement Budget Calculator
GIC Rates
FAQs
1 Products and services may be offered by Royal Bank of Canada or by a separate corporate entity affiliated with Royal Bank of Canada, including but not limited to Royal Mutual Funds Inc., RBC Direct Investing Inc. (Member–Canadian Investor Protection Fund), RBC InvestEase Inc., RBC Global Asset Management Inc., Royal Trust Company or The Royal Trust Corporation of Canada
Insurance
Insurance Overview
Creditor Insurance
Creditor Insurance Overview
HomeProtector Insurance
LoanProtector Insurance
BalanceProtector Insurance
Travel Insurance
Travel Insurance Overview
Travel Insurance Packages
Travel Medical Insurance
Trip Cancellation and Interruption Insurance
Get a Quote
Tools & Resources
Creditor Protection Selector
HomeProtector Insurance Quote
LoanProtector Insurance Quote
Make a Travel Insurance Claim
Ways to Bank
Ways to Bank Overview
Online Banking
ATM, Branch, & Telephone Banking
RBC Digital Banking Security Guarantee
Mobile Banking apps
RBC Mobile
Avion Rewards
Pay with Your Mobile Device
RBC Launch
Learn How To…
Reset Your Password
View or Print a Void Cheque
Add or Remove a Payee
Set up Direct Deposit
Transfer Money Between Accounts
View or Print Your Tax Documents
View All Tutorials
Newcomers
Newcomers Overview
Banking
Credit Cards
Mortgages
Car Loans
Investing
The RBC Newcomer Advantage
Advice by Visa Status
Permanent Resident
International Student
Business Owner/Entrepreneur
Foreign Worker
Tools & Resources
What Our Partners Can Offer You
How Banking Works in Canada
Building a Credit History in Canada
Buying Your First Home in Canada Checklist
Buying Your First Car in Canada Checklist
Retirement Planning
Retirement Overview
I’m Saving and Planning
I’m Getting Close
I am Already Retired
Retirement FAQ
Tools and Resources
Retirement Budget Calculator
Test Your Retirement Knowledge
Will and Estate Planning
What is CPP and QPP?
Tailored Products & Offers
Retirement Savings – RRSP
Retirement Income Fund – RRIF
My Advisor
Student Solutions
Student Hub
Student Bank Accounts
Student Credit Cards
Student Loans
Popular Accounts
RBC Advantage Banking for Students
RBC High Interest eSavings
RBC Leo’s Young Savers Account
Build Your Career
Future Launch
Gain New Skills
Grow Your Network
Work Experience
Beyond Banking
Personal Beyond Banking
Business Beyond Banking
Arrive: For Newcomers to Canada
Learn More About Arrive
Sustainable Finance Solutions
Sustainable Finance Solutions Overview
Switch to Electronic Statements
Savings & Investments
ESG Investing
Travel & Commuting
Electric Car Financing
Electric Car Cost Calculator
Electric Car Guide
Electric Car Rebates
Home
Home Energy Guide
Home Energy Rebates
Rewards
Rewards Overview
Avion Rewards Credit Cards
Pay with Points
Offers
RBC Petro-Canada
Rewards Credit Cards
Popular Rewards Cards
RBC Avion Visa Infinite
RBC ION Visa
RBC Avion Visa Infinite Privilege
RBC ION+ Visa
What’s New
View Offers
#LifeMatters: Bryan Baeumler on Choosing a Path Less Travelled
Struggling to Make Ends Meet
Managing and Consolidating Debt
Managing Expenses
Improving Your Credit Score
Unexpected Events
Loss of Income
Handling Financial Stress
Money in an Emergency
Bankruptcy
Personal Bankruptcy
Business Bankruptcy
Consumer Proposals
Need Financial Help?
Book an Appointment
1 800 769-2511
Buying a Home
Buying your First Home
Buying your Next Home
Investment Property and Vacation Home
Home Building and Renovations
Refinancing and Downsizing
Buying a Vehicle
Finding the Right Car
Financing Your Car
Travel and Cross-Border
Planning for a Big Trip
Buying or Refinancing a US property
Travelling and Shopping in the US
Studying in the US
Living in the US
School and Career
Going to College or University
Finding a Job
Continuing Education
Medical or Dental Students
Retirement
Planning for Retirement
Living in Retirement
Will and Estate Planning
Finances and Relationships
Marriage
Parenthood
Separation and Divorce
Death of a family member
Women and Money Management
New to Canada
Settling in Canada
Employment in Canada
Banking in Canada
Studying in Canada
Starting a Business in Canada
Settling into your new life in Canada can be hard. Talk to an RBC Newcomer Advisor
Banking Basics
Account Types
Budgeting
Banking Tips
Money Mindset
Credit and Borrowing
Understanding Loans
Understanding Credit Scores
Understanding Credit Cards
Investing
Types of Investments
Understanding Risk
Investing Basics
Cyber Security
Understanding Cyber Safety
Cyber Security for Business
Economics 101
Economics for Beginners
Understanding Inflation
Understanding Interest Rates
Climate Change
Business Stages
Start a Business
Grow Your Business
Transition Your Business
Managing Your Business
Business Planning
Business Financing & Funding
Cash Flow Management & Financials
Making & Receiving Payments
Get Inspired
Business Success Stories
Innovation
Right-Sized Business Advice
Small Business
Commercial
Solo Entrepreneur
Ideas & Voices
Go To Grandma with Kathy Buckworth
The Wealthy Barber
Bryan and Sarah Baeumler
The Drive
Inspired Investor
Ideas & Motivation
Investing Academy
Smart Savings
What’s your money mindset?
Finance, Fitness and your Future
By Ashley Redmond
Published December 26, 2016 • 4 Min Read
Applying for post-secondary education can be overwhelming for many Canadians, especially after seeing the cost of tuition. Costs vary widely across the country. According to Statistics Canada, the average annual tuition cost for an undergraduate degree in Ontario is $7,868; while Saskatchewan and Quebec come in at $6,885 and $2,799 respectively.
To offset the cost, students have many resources available including: grants, bursaries and scholarships — essentially free money to put towards education — available to students across the country.
Offered by businesses, government, schools and organizations, most resources range from $100 to $20,000.
Scholarships can be awarded based on a variety of criteria including: academic standing, athletics, community involvement or any combination of the mix.
For scholarships based on academic standing, it’s imperative to maintain good grades; whereas for an Athletic Financial Award Scholarship the requirements vary.
Scholarships based on community involvement are offered by a variety of community organizations, businesses and schools. Requirements for these types of scholarships vary. Remember, you’ve got to apply for a scholarship in order to be considered for one.
These are based on financial need or non-academic criteria such as volunteer experience, athletic involvement or ethnicity. In some cases, if you qualify for a Canada Student Loan, you may be automatically assessed for a Canada Student Grant. It is possible to receive more than one grant. Other grants require an application.
Similar to grants, as they are based on financial necessity and non-academic criteria, bursaries are also similar to scholarships as students must apply to be considered.
“Overall, there is over $100 million available in scholarships and bursaries across Canada,” says Chris Wilkins, president of student recruitment firm Edge Interactive, “With at least $3 million of it going unclaimed every year.”
“It’s frustrating to see so much money go to waste,” says Wilkins. “We ask scholarship administrators if they are happy with [the number of] applicants. For example, we asked, did they get enough applicants? 59% said they wanted more.”
Many times students don’t know that scholarships funds are available or where to apply for them. Sarah Rushton, 29, Vancouver took advantage of the low applicant rate during her undergraduate studies at Saint Mary’s University in Halifax. During her four years there she received the Dalton Political Science scholarship based on academic achievement. To apply for it she wrote an essay, maintained a GPA of 4.0 and filled out the application — and she got it. Rushton received many small bursaries in the amount of $500 by applying for as many as she could. “Because sometimes you’re the only one who applies,” she says.
Get out there. Ask friends, family and colleagues if they know of any grants, bursaries or scholarships. Does the company one of your relatives work at offer scholarships? Does your local Rotary Club offer any grants? Many times if students can’t find information online they assume it doesn’t exist. Not true. Don’t underestimate the power of networking.
You may have to submit reference letters, or documents, on top of applications. But Wilkins says it’s worth the effort because many times scholarships have minimal applicants, so it is worth your while to at least try.
Guidance counsellors and department heads are a great resource. They know what is available and they frequently know which scholarships receive the least amount of applicants.
This website covers scholarships for all provinces, territories, as well as scholarships available for Canadians studying abroad. Students should build a profile to gain access to deadline email alerts for specific scholarships. As well, as utilizing the filter tool that breaks down scholarships by: name, school of study, field of study or the scholarship provider. Other helpful sites include yconic, and CanLearn.
One trend Wilkins has noticed over the past few years is that the amount of bursaries and scholarships are increasing, yet students continue to apply in the same low numbers. He would love to see more students apply and less money go to waste. “Don’t despair, get out there and try,” he says.
There is no best time to apply for a scholarship. It’s best to monitor application deadlines through Scholarships Canada, the Financial Consumer Agency of Canada, yconic or the Universities Canada.
For additional resources and financial advice on how you can pay for school check out RBC’s Student Hub or RBC’s scholarship page.
This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.
Share This Article
Topics:
Accounts
Credit Cards
Mortgages
Loans
Investments
Rewards
Diversity & Inclusion
Community and Social Impact
ESG Reporting
Commitment to Youth
Thought Leadership
Media Newsroom
Newcomers to Canada
Future Launch
Student Solutions
Contact Us
Find a Branch or ATM
Book an Appointment
Royal Bank of Canada Website
