To pursue one’s studies is to build one’s professional project and to choose one’s future. In this logic, many students want to continue their learning in graduate cycles to be ready when they enter the job market. However, the related costs can be substantial. Between the price of the studies in itself and that of the student life, the necessary sums can quickly cause headaches.
But how to deal with these financial obligations without the school results being impacted? With NCR Loans, discover the different financial options available for your studies to run without hassle.
Finance your studies
Assuming tuition fees alone means that some students have to find the necessary funds to obtain a diploma. Fortunately, there are financial solutions that will allow you to access the professional skills you are looking for.
To finance studies with one’s personal finances is not always easy, because the savings to put aside is consequent. Thus, some students have already begun, well before their entry into the universities, to save their rhythms. Part-time jobs or summer jobs are often the main sources of income to consider in order to raise the necessary funds.
For students whose parents opened an RESP when they were very young, know that it is possible to use the accumulated capital to help you finance your education.
To make up for the lack of funds, many scholarships are available to students who wish to continue their training. In the form of financial assistance and not requiring reimbursement, they are allocated to students by the federal government, the various provincial and territorial authorities as well as by public or private organizations such as businesses, charitable foundations and schools. .
Most often, these scholarships are awarded on merit. However, it is also taken into account the financial needs of the student, his sports skills or his participation in extracurricular activities.
Ask your guidance counselor or the financial aid office at your home institution about the options available to you. Be sure to start your application well in advance to make sure you do not get caught off guard by the many documents that may be required: this type of request can be long.
Student loans with deferred repayment
The student loan is an advantageous solution when one wants to find the necessary funds for the accession to knowledge. In addition to making studies accessible to as many people as possible, it offers some flexibility in terms of repayment times.
For example, some financial institutions propose to defer repayment. Depending on the institution chosen, you will be able to repay your loan at the end of your school year or two years after completing it.
Be careful, because using a bank loan is a long-term commitment. So be sure to choose your financial institution and take the financing option that best suits your needs.
Student line of credit
The line of credit is a process of making money available to you at any time. The amount is calculated based on your status, your ability to repay and your field of study.
The majority of student lines of credit offer a lower interest rate and longer repayment terms than is commonly proposed.
Fund your student life
Student life is expensive! Between the rent to pay, phone and internet packages, extracurricular activities and student outings, you will also need to estimate the ancillary costs associated with your studies.
Here are some tips and tricks to get the most out of your student life.
Track student reductions
There are everywhere and yet students do not necessarily know it. Many stores or organizations offer discounts for students.
Thus, you can get discounts on your transport subscriptions, in some clothing and accessories stores, for your cinema sessions or in some restaurants. You will be surprised at all the good plans that are available to you.
Do not hesitate to ask, no matter where, if there are discounts or student rates. Also look at social networks! There are a multitude of groups that offer good plans.
Have a little job
It is very common to see students taking part-time positions in parallel with their study. This type of job will allow you to be paid, but also to acquire a first professional experience that you can value later.
Note, however, that having a job while taking courses requires being organized. Your job should not affect your academic success. So choose small contracts of 5 to 20 hours per week to be sure not to encroach on the time needed for your studies.
Loan of small amounts
If urgent money is needed , it may be necessary to turn to institutions that can give you small amounts of money. This option can be really helpful as this type of lender does not necessarily care about your credit rating or loans and line of credit already in process.
In addition, the process of obtaining is very simple and fast: in less than 24 hours, you will have made your request, received the approval of the lender and will have access to the deposit of funds directly on your account.
Be careful though, the contraction of this type of loan requires to be conscientious and to regularize every month the claims that were established during the contract.