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4 Ways to Pay for Your Continued Education

Posted by: Gavin Au-Yeung Date: August 17, 2021 Category: Blog

Many skilled newcomers often consider continued education. One reason for this is because newcomers are unable to return to their desired careers. Those trained in regulated occupations need to retrain or get their international credentials recognized first. Regardless of the situation, returning to school is a great way to upgrade your skills and access new career opportunities.

However, returning to school can often be an expensive endeavour. Understandably, newcomers will want to focus their time and financial resources on getting settled in Canada. With that said, there are several possibilities for newcomers to pay for their continued education in Canada.

Continue reading to learn more about these possibilities! 

1. Savings from home country

Planning for the future is always a good idea. Research if your desired occupation in Canada will require further training or education. If yes, you should save money for tuition as soon as possible. Keep in mind that you may not necessarily find work in your desired career if your occupation is regulated in Canada. Try to save up as much money as you can before moving to Canada. In addition, consider the amount of money you will need to settle in Canada and sustain yourself and your family for a few months. 

2. Finding Employment in Canada

Many newcomers rely on survival jobs to help pay for immediate expenses when they first arrive in Canada. Survival jobs are readily available jobs that often require little skill. Taking up a readily available job may help with funding your continued education. Individuals who had high-skill jobs back in their home country may feel demoralized if working a survival job. However, keep your goal in focus and remember what you are trying to achieve!  

3. Scholarships and Student Aid

Schools give out financial aid that is accessible to students of different backgrounds and academic abilities. Scholarships, for example, are a sum of money awarded to students to help pay for tuition. There are many types of scholarships. For example, you can receive a scholarship for academic achievement, community service, or other types of work. Students generally need to apply for scholarships. Some resources that can help you find scholarship opportunities include Scholarships Canada and Student Awards.

4. Accessing Educational Loans

Unlike scholarships, loans are a form of financial aid that the recipient must return. However, accessing educational loans can be a worthwhile investment and a gateway to more career opportunities. Newcomers may have difficulties accessing traditional bank loans because they lack Canadian credit history. Fortunately, there are many support systems for newcomers who are aiming to return to school.

Career Loans is one example of a newcomer support program that provides career counselling. Clients who access the free services of Career Loans can also apply for an optional micro loan of up to $15,000. Learn more about the program and register now by clicking here!

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Career Loans provides career counselling and micro loans to Internationally Trained Individuals in regulated and non-regulated occupations and trades, who are looking to return to their chosen profession.



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