Financial aid options for Canadian Students or Permanent Residents
Do you need help funding your program at Focus College?
We offer a variety of services to help you find the information you need to apply for financial aid in your community.
Following your educational goals is an exciting time and it can be a financial strain as well.
Eligible students can obtain up to 75% scholarship on tuition fees.
Scholarships are based on the following criteria. Give us a call to discuss your scholarship opportunities or simply apply.
- Financial need
- Academic achievement
- Social/community involvement
Government Student Loans
Currently, British Columbia has a government-sponsored plan that provides loan assistance to qualified full-time students. The type and amount of assistance usually varies depending on your individual circumstances.
If you choose to fund your education through student loans, it is the College policy to apply all loan payments toward the tuition balance until the tuition and other costs are paid in full. This policy is subject to provincial regulation. Loan amounts that exceed tuition fees will be distributed directly to the student.
Government student loans have No interest and No payments while in school. See StudentAidBC.ca
Lifelong Learning Plan (LLP)
LLP is a program that allows Canadian resident students to withdraw funds from their RRSPs (Registered Retirement Savings Plan), without penalty to fund their education. LLP allows you to withdraw up to $10,000 per year up to a maximum of $20,000 without being taxed. You have up to 10 years to pay back your withdrawal. You are required to have an acceptance letter from Focus College to withdraw funds from your LLP.
Registered Education Savings Plan (RESP)
If you have a RESP it’s a great vehicle to support your education funding. An RESP is a tax deferred savings and can be paid over 10 years interest fee.
Student Line of Credit
A student line of credit is a great option for Canadian students with a valid co-signer. A line of credit is different from a loan because you take money out only as you need it and pay interest only on what you withdraw while you are in school.
Focus College Payment Plan
To set up a personal payment plan option where you are covering your own tuition please contact us directly to check your qualifications. Our admissions advisor can help inform you.
Employment Program of BC / Employment Insurance
Focus College programs qualify for EPBC and EI funding; however, every case is different. Contact a Focus College Admissions specialist for more information.