Financial Assistance

Full-time students at Ashton College may apply for provincially and federally funded student loans and grants through their provincial student financial assistance office. A single application is enough to assess you for both sources of funding.

For current information regarding Canada Student Loans, please visit: 

https://www.canada.ca/en/services/benefits/education/student-aid/grants-loans.html

For current information regarding Canada Student Loans, please visit: 

https://www.canada.ca/en/services/benefits/education/student-aid/grants-loans.html

Online programs qualify for student funding according to the same basic eligibility requirements as full-time and part-time in-class programs in most provinces. The program must be at least 12 weeks in duration. A full-time online program must contain a minimum of 20 instructional hours per week. A part-time online program must contain between 20 and 59% of a full-time program's instructional hours per week. To qualify for full-time funding, students must show that they are enrolled in at least 60% of a full-time course load.

If student loans and government grants are insufficient to cover the costs of your education, there are many supplementary private sources of funding you may pursue. All the following options are reliable, trustworthy and frequently used by Canadian college students.

Bank Student Lines of Credit

Most of the major Canadian banks offer student lines of credit. Please find links to the most up to date information under the tabs for each bank.

Vancity Back to Work Microloan

The Vancity Credit Union provides term loans of up to $7,500 at a variable interest rate to cover the cost of taking courses to meet local standards or qualifications so you can work in your field. The Back to Work loans primarily support recent immigrants. To apply, you must prove you have previous experience in your field, whether in Canada or in another country, and plan to acquire Canadian certifications. Your assessed need will be based on your business, school or tool expenses and your savings and income. The loans are not intended to cover your living expenses. The application process is simple and quick.

Windmill Microlending

Windmill Microlending is a registered charity serving newcomers since 2005. Windmill Microlending provides microloans of up to $15,000 for skilled immigrants and refugees to pay for their Canadian licensing or training needed to restart or advance a career in Canada. Their loans can cover tuition, books, materials such as software or laptops, child or caregiving costs during the study period, and other expenses related to advancing their career. To find out if you are eligible for a Windmill loan please visit: https://windmillmicrolending.org/applicants/apply-now/

RRSP, RESP, TFSA

If you or your parents have set up an RRSP, RESP, and/or TFSA in the past, you may withdraw from these investment options to help finance your education. For your RESP, you may withdraw from the principal or from the collected interest, referred to as Education Assistance Payments. For your RRSP, you may deregister from your RRSP, which is taxed at your marginal income tax rate, or make a Lifelong Learning Plan withdrawal. Make sure to speak to your financial adviser before pursuing these options.