Borrowing to Study for an Elementary Teacher
To become an elementary teacher in Canada, you need a Bachelor Degree in Education with a focus on instruction and hands-on experience in classrooms. The cost varies from one institution to another and whether you will be living in residence or at home.
Financing Your College Education – Scholarships and Bursaries
If you have enough cash at your bank account, this is by far the best way to finance your college education. If you are like most young people, however, you are probably looking for low-cost financing, scholarships, and other options. The first thing to do is to shop around for scholarships and bursaries, and there are hundreds and thousands of them. Many universities offer in-course and entrance awards which are available to students in diploma, applied degree, and degree programs. The general criteria may include early admission, evidence of leadership, academic merit and excellence, and residency requirements. In some cases, universities offer nominated awards meaning that application is not required. Book prizes are also offered to students who show academic excellence in certain courses. Education bursaries are also an option, and assistance is offered based on financial need. Some Canadian universities offer education bursaries to students enrolled in the fourth, third, second, or first year of Bachelor of Education. You must be enrolled full-time to qualify. Some awards are only offered to students in their third and fourth year. Others are offered on the basis of academic achievement but there are other criteria to meet, including volunteer involvement in the community or in K-12 schools. Other awards are more specific and require a small portfolio of poems and a written essay on some genre, period, or poet.
Loans, Credit Cards, and Other Types of Financing
Even if you qualify for a scholarship or bursary, you may still need financing unless the award covers tuition, room and board, books and textbooks, etc. You may want to look into student loans first offered under government programs. They are available to part-time and full-time students in Canada but the application rules vary depending on your province of residence. You will be asked to submit certain documents along with your loan application, among which Student Financial Assistance Agreement, Certificate of Eligibility, proof of social insurance number, and a valid photo ID. This can be your employee identification card, certificate of Indian status, provincial health card, ID, etc. Another option is to apply for a private loan from your local credit union or bank but the rate will be higher compared to government-sponsored financial aid. There are other differences between government and private loans, one being that the former are more flexible. Another is that you start repaying the loan once you leave school or graduate. Private loans are offered by financial institutions, state agencies, and universities and are not subsidized meaning that you pay interest charges. Finally, one way to finance school-related purchases or occasional expenses is to apply for a low-cost student credit card (http://www.creditcardfaq.ca/). All big banks in Canada, small banks, credit unions, and many finance companies advertise credit cards (http://www.creditcardfaq.ca/credit-card-types/best-canadian-credit-cards) that are designed for students and may come with add-ons and incentives such as money back rewards, no annual fee, low interest charges, and many others.