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| FINANCIAL ASSISTANCE Sources of Funding Available to Students Triumph Vocational Services offers support for students with permanent disabilities. These disabilities are typically defined as anything considered as chronic for 2 years or more but are not limited to this definition. For example, if you had chronic back pain, ADD, depression or similar, you may qualify for support and possibly some financial assistance. If you are not sure, they can tell you if you may qualify. WorkSafeBC funds some clients once they have been classified as unable to return to work in their previous career. Employment Insurance (EI) partially funds some students who have either active EI claims, been on EI in the past 36 months or have had maternity or parental claims in the past 60 months. Depending on your area, North Island Education Foundation Society (NIEFS) or Amber Education Services issues these funds. A referral through the Job Shop in the Comox Valley, The Career Centre in Parksville, Alberni Valley Employment Centre (AVEC) in Port Alberni or ETHOS in Nanaimo, is required. In Campbell River, students go directly to NIEFS. These agencies will assist and guide you through the process; you could gain living and partial tuition assistance. We can also assist and support your through the process. Local Grants, Awards & Bursaries are available everywhere and often students do not take the time to apply. We have packages at Excel Administration listing which bursaries are available locally and how to apply. We have had students receive $1,000 bursaries even after graduation, which can help with costs while looking for work, paying for any loans or for extra money. These can be applied for at any time, even after graduation. :: Contact Us for more information :: Aboriginal funding is often available to students of aboriginal decent and often times, band offices have to use their funding budget in order to have it renewed the following year. The government of Canada has also contributed funds to bands so there are more options available than in previous years. Community
Futures offers assistance to people starting
their own business. They determine what you wish to do, what
the demand in that field is and how to get you started. They
have business start up loans and grants that can include training
and start up costs and have numerous structures around doing
this. Student line of credit through local financial institutions. Banks offer these with low interest only payments while you attend school for 6 to 12 months following graduation, allowing time to gain employment before normal payments would apply. This option allows students to pay in full for their program; therefore taking advantage of our internal pay up front discount of 5% off tuition. You also build better financial management skills and can be debt free within 5 years! This also means you save thousands in interest versus longer loans. Lifelong Learning Plan (LLP) with RRSP’s is also a great alternative for students as it allows them to withdraw their schooling fees from an RRSP tax-free. It also allows students to pay up front for the schooling and take advantage of the pay up-front discount of 5% off tuition. LLP's then get repaid within 10 years allowing you to replace your nest egg. Passport to Education – many students collect passport to education moneys while in highschool, that the government will then issue to the student once they are registered in Post-Secondary Education, such as us! Students can write off all tuition paid for post secondary education in each tax year attending and also a portion of books and credit for time in class. For example; students in the 2007 tax year could write off tuition, $400 per month of full time study during 2007 and also $65 per month for books and materials per month of full time study. If they did not need all or part of this deduction, it automatically gets carried over to the following year(s), which works well once students enter the workforce. For
further details, a Free Financial Analysis, or assistance with your training plan, contact
Michelle Annand at mysuccess@excelcareercollege.com
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