Ashton College is a post-secondary institution dedicated to providing you with the certifications, licensing and continuing education required in the workplace. In pursuit of making quality education available to all, we honour various education loans, grants and other financial options to assist you with funding your education.
Government loans and grants are available for full-time, part-time and online programs that fall within their criteria and conditions. Private financial institutions such as banks provide financial assistance services specifically catered towards students.
Please use the drop-down options below to explore the financing options for all our program formats.
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.
The basic eligibility requirements are:
- Be a Canadian citizen, permanent resident, or protected person
- Be a resident of the province to which you are applying for student aid
- Demonstrate financial need
- Be enrolled in at least 60% of a full course load if applying for a full-time loan
- Be enrolled in at least 40% of a full course load if a student with permanent disability
- Be enrolled in a degree, diploma or certificate program offered by a designated post-secondary school that runs for at least 12 weeks within a 15-week period
- If you are 22 or older, pass a credit check
- Not have exhausted your maximum lifetime limit for financial assistance, including weeks in interest-free status, which is
- 340 weeks for full-time students who received their previous loan(s) on or after August 1, 1995, or
- 520 weeks for full-time students who have a permanent disability or full-time students who received their previous loan(s) before August 1, 1995
- Not defaulted on any previous government student loans
Some programs may have additional criteria, which you may find on the student financial aid office’s website.
All full-time Ashton College students who are residents of any province or territory except Quebec, Nunavut and the Northwest Territories may apply for any federal funding programs.[1]
– Canada Student Grant for Students with Dependents
– Canada Student Grant for Students with Permanent Disabilities
– Canada Student Grant for Services and Equipment for Students with Permanent Disabilities
– Canada-BC Job Grant (Please note, employers must apply for this grant)
The following provinces also offer their residents some provincial funding options for full-time studies:
– BC – Student loans, BC Access Grant for Students with Permanent Disabilities
– Alberta – Student loans, Alberta Low Income Grant
– Saskatchewan – Student loans, Saskatchewan Student Grant for Students from Low-Income Families, Saskatchewan Student Grant for Students from Middle-Income Families
[1] Quebec and Nunavut residents are not eligible for any of the federal programs, while Northwest Territories residents are eligible for the Canada Student Grant for Students with Permanent Disabilities and Canada Student Grant for Services and Equipment for Students with Permanent Disabilities only.
In order to qualify for part-time student funding across Canada, the government requires students to be enrolled in a program that is 20 hours or more per week and 12 weeks or longer in length but taking 20% to 60% of that program.
At Ashton College, this means part-time versions of programs which also have qualifying full-time versions are eligible for government student funding. We have part-time versions, in-class and online, of our Immigration Consultant Diploma program and Diploma in Human Resources Management program. These two programs thus qualify for student funding.
Students must also meet these basic eligibility requirements:
- Be a Canadian citizen, permanent resident or protected person living in Canada
- Be already enrolled at Ashton College in a qualifying program. A qualifying program at Ashton College must:
- Be 12 weeks or longer
- Have a full-time version of itself that is 20 hours or more per week
- Not be in default on any previous provincial or federal student loans
- Have successfully completed any study periods for which you have received any loans or grants
As of August 1, 2014, all part-time students must apply for part-time funding programs, including federal programs, through the province in which they are resident. Some programs may have additional criteria, which you may find on the student financial aid office’s website.
Part-time Ashton College students who are residents of any Canadian province or territory other than Quebec, Nunavut and the Northwest Territories are eligible for the following federal programs:
– Canada Student Loan for Part-time Studies
– Canada Student Grant for Persons with Permanent Disabilities
– Canada Student Grant for Part-time Studies
– Canada Student Grant for Part-time Students with Dependents
The following provinces offer their residents some provincial funding options for part-time studies:
– BC – BC Supplemental Bursary for Students with a Permanent Disability
– Alberta – Alberta Part-time Grant
– Saskatchewan – Saskatchewan Student Grant for Part-time Studies
– Northwest Territories – Course Reimbursement
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. Though they have many features in common, we have compiled the following information on a few differences between the banks’ respective offerings that may be helpful to you in deciding which is the best line of credit for you.
Eligibility
- Canadian citizen or permanent resident that has reached the age of majority
- Enrolled student, part-time or full-time, at Ashton College
- Must not have been declined for credit by CIBC in the last six months, nor declared bankruptcy in past seven years; must meet standard CIBC credit criteria; must have minimum annual gross income of $20,000 OR
- Have a cosigner who earns at least $35,000 a year and is a Canadian citizen or resident
Assessed Need
- Worth $5,000 – $40,000
- Covers tuition, fees, books, living costs
- A specific amount of line of credit based on projected ability to repay, including assets and credit-worthiness
Term
Open-ended, amortization up to 20 years.
Interest Rate
Prime & Variable Rate.
Repayment
- Monthly
- During study & 12 months, pay off interest only
Eligibility
- Canadian citizen or permanent resident
- Enrolled student, part-time or full-time, at Ashton College
- Requires a good credit history, or if lacking a credit history, a cosigner
Assessed Need
- Worth $5,000 and up
- Covers tuition, fees, books, living costs
- Specific amount of line of credit based on projected ability to repay, including assets and credit-worthiness
Term
Open-ended, but credit line is resolving so that a set amount is available each year instead of up-front; when you receive your loan you will set up a fixed payment schedule.
Interest Rate
Prime & Variable Rate, as low as Prime + 1%.
Repayment
- Monthly
- During study + 12 months, pay off interest only
Eligibility
- Canadian citizen or permanent resident
- Enrolled student, part-time or full-time, at Ashton College
- Requires an unstated minimum income, or if lacking, a cosigner
Assessed Need
- Worth up to $10,000 per year
- Covers tuition, fees, books, living costs
- Specific amount of line of credit based on projected ability to repay, including assets and credit-worthiness
Term
Open-ended, amortization up to 20 years.
Interest Rate
Prime & Variable Rate.
Repayment
- Monthly
- During study + 12 months, pay off interest only
Eligibility
- Canadian citizen or permanent resident
- Enrolled student, part-time or full-time, at Ashton College
- Requires an unstated minimum income and good credit history, or if lacking, a parent/guardian cosigner (called “supporting borrower” by Scotiabank)
Assessed Need
- Worth $1,000 – $5,000 per year if full-time, $1,000 – $2,500 per year if part-time
- Covers tuition, fees, books, living costs
- Specific amount of line of credit based on projected ability to repay, including assets and credit-worthiness
Term
Open-ended, amortization up to 15 years.
Interest Rate
Prime & Variable Rate, as low as Prime + 1.50%.
Repayments
- Monthly
- During study + 12 months, pay off interest only
Eligibility
- Canadian citizen or permanent resident
- Enrolled student at Ashton College taking at least 20 hours of instruction a week for at least 12 weeks
- Requires a cosigner if you do not have sufficient income and credit history
Assessed Need
- Worth up to $6,500 in your first year
- Covers tuition, fees, books, living costs
- Specific amount of line of credit based on projected ability to repay, including assets and credit-worthiness
Term
Open-ended, amortization up to 6 years.
Interest Rate
Prime & Variable Rate.
Repayment
- Monthly
- During study + 12 months, pay off interest only
* Applying for a student line of credit with Scotiabank means you could be eligible for a $1000 student bursary draw.
**HSBC has a personal line of credit option but it is not tailored for a student. Please see their website for more information.
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. We offer microloans to help skilled immigrants and refugees continue their careers in Canada. Windmill provides microloans of up to $10,000 to internationally trained immigrants so they can obtain the Canadian licensing or training required to work in their field. The loan can pay for professional exams, training, assessments, professional association fees, books and materials, living allowance and other expenses related to obtaining the required credentials or training.
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.
Need Help?
Our Admissions Office can help with your available options for financial assistance, including provincial and federal student loans, as well as private funding through banking institutions. Ashton College Admissions Officers have in-depth knowledge of various financial assistance options for Ashton students, and they are happy to walk you through the application process.