Do you need help finding your dream program at Cornerstone College? We offer a variety of services to help you find the information you need to apply for financial aid in your community.
Government Student Loans
Financial assistance may be available for full-time students (those taking 60% or more of a full course load or 40% for students with permanent disabilities who have been approved by the ministry to study at the reduced course load), who are Canadian citizens, a permanent resident or have protected person status, through the Canadian and provincial government student loans programs. Students must apply for loans through the province or territory in which they have established residency. Residents of British Columbia can apply for loans through StudentAid BC. This combines the Federal Canada Student Loan / Grant Program as well as the Provincial BC Student Loan / Grant Program. Eligibility is determined by those agencies, which are independent of Cornerstone College
Canada Student Grants
Eligibility for Canada Student Grants is automatically assessed when a student applies and qualifies for a government student loan.
Lifelong Learning Plan (LLP)
The LLP allows eligible full-time students to withdraw up to $10,000 per year, tax-free, and up to the total plan limit of $20,000 from their registered retirement savings fund (RRSP)
Student Line of Credit
Financial institutions may offer student lines of credit or other private loans.
Registered Education Savings Plan (RESP)
RESPs permit savings to grow tax-free until the beneficiary is ready to enroll full-time into a qualified post-secondary institution.
Payment Plans
Subject to credit approval by the Student Financial Services Department, payment plans are available in some circumstances. Payment plans require proof that the student has the financial capacity to make payments and in some cases will require additional guarantees or co-signers.
RBC Royal Credit Line for Students
The Royal Credit Line for Students lets you focus on what’s important: your studies. Available to full-time and part-time students who need to finance their studies, it allows you to take charge of your financial needs in a way that fits your lifestyle.
The Royal Credit Line for Students is different from a traditional loan in that it lets you borrow funds and pay the interest on only the amount you use, without ever having to reapply. You get all the convenience and benefits with no annual fee.
As a student, you may qualify for one of RBC`s best rates – Prime + 1%, which applies when you are at school and for a 12-month `grace period` after graduation.
Further information about financial assistance is available from the Financial Advisor at your nearest campus.
Other Financial Assistance
There may be other forms of financial aid available to you. You may be eligible for specific government grants and bursaries depending on your circumstances. Additionally, you may be eligible to receive funding through a government-sponsored agency such as HRSDC or WorkSafe.
If you have questions about funding your education, each Cornerstone College campus has a Financial Advisor who can provide information about the options available for you. Additionally, your Financial Advisor will also assist in completing your application for whichever funding option you choose.
Also, check with your Financial Advisor to see what scholarships may be available.
Obtaining financial aid will enable you to concentrate on your Cornerstone College training so you can embark on a rewarding career in your field.
