Government Financial Aid
Financial assistance is available for eligible full-time students (those taking 60% or more of a full course load), who are Canadian citizens or landed immigrants, through the Canadian and provincial government student loan programs. Students must apply for loans through the province in which they have established residency.

Residents of British Columbia apply for loans through the StudentAid BC (SABC), which combines the Federal Canada Student Loan Program and the Canada Student Grant for Students with Dependent Children with the Canada Student Loan Program. Eligibility is determined by those agencies, which are independent of The Art Institutes.

Student loans must be repaid at interest rates established by the government through the National Student Loan Service Centre, starting six months after the borrower ceases to be a full-time student. However, the government pays interest to the bank on the student's behalf while they are engaged in full-time study. Students who are actively seeking work but are unemployed at the end of the six-month grace period may apply for Interest Relief on their Canada and BC Student Loans through their lending institutions.

Details: For more information about student loans, visit the Human Resources Development Canada Web site.

Lifelong Learning Plan (LLP)
The LLP allows eligible full-time students to withdraw up to $10,000 per year, tax free, and up to the total LLP limit of $20,000 over the period you are participating in the LLP from their RRSP. Withdrawals are repayable over 10-years. For additional details visit the Revenue Canada Web site.

BMO Bank of Montreal's Student Line of Credit for The Art Institute of Vancouver Students Program
The BMO Bank of Montreal's Student Line of Credit for The Art Institute of Vancouver Students Program is a suite of products and services designed to meet the financial needs of post-secondary school students. Students are eligible to apply for a Student Line of Credit and borrow up to $15,000 in your first year and $10,000 in each remaining year to a maximum of $30,000.00. For more information on this program, please visit a BMO Bank of Montreal branch or call 1.800.665.9665.

Royal Bank - Royal Line of Credit
The Royal Bank offers a Royal Credit Line for Students which is similar to the Bank of Montreal's Program. Through the Royal Line of Credit program, students are eligible to apply for a maximum credit line of up to $30,000 for a two-year program. For more information, contact a Student Financial Planner.

Student Lines of Credit
Financial institutions offer lines of credit for students enrolled in full-time programs. Credit amounts are based on individual approved credit limits with monthly interest-only payments required while attending school. Amounts vary at each institution. For more information, visit your financial institution for a list of their financial aid and criteria.

Registered Education Savings Plan (RESP)
RESPs are registered education savings plans that permit savings to grow tax-free until the beneficiary is ready to enroll full-time into a qualified post-secondary institution. Contributions to all RESPs are subject to a lifetime maximum of $50,000 per beneficiary. An RESP also allows you to apply for the Canadian Education Savings Grant.

Canada Education Savings Grant (CESG)Br /> The CESG is a grant from the Government of Canada paid directly into a beneficiary's RESP to a limit of $7,200. For more information, about RESPs and CESGs, visit the Human Resources and Skills Development Canada Web Site.

Scholarships and Bursaries
These are scholarships or other benefits that do not need to be repaid. Most scholarships are based on criteria set out by the affiliated organization. Retraining funding may also be available to some applicants currently collecting social assistance or employment insurance through Human Resources Development Canada.

Your Guide to Scholarships
To help you learn more about what's available, we've created AiCompetitions.com, a detailed and comprehensive resource to not only Art Institutes-sponsered scholarships, but to those sponsored by other organizations.

Merit Scholarship Award
At The Art Institute of Vancouver, we believe in recognizing individuals who excel academically. Each quarter, students who achieve a high Grade Point Average (GPA) in their program of study will receive a Merit Scholarship that will be applied to their next quarter.

Student Awards Services
To assist with your search for external funding, StudentAwards.com provides a unique service that matches awards with eligible candidates and institutions. Membership is free, and you can choose to receive updates of new awards via email. For more information, and to register for this service, visit their Web site at www.studentawards.com.

Workers' Compensation Board and Insurance Corporation of British Columbia Retraining
Some individuals may qualify for assistance from the Workers' Compensation Board (WCB). The WCB may help with rehabilitation, retraining and educational upgrading. Contact the Rehabilitation Consultant at the WCB. Information is available at www.worksafebc.com.

The Insurance Corporation of British Columbia (ICBC) also runs retraining programs. Contact the ICBC Rehabilitation Coordinator directly. Information is available at www.icbc.com.

Payment Plans
Subject to credit approval by the Student Financial Services Department, payment plans are available in some circumstances. Payment plans require proof that the student has the financial capacity to make payments and in some cases will require additional guarantees or co-signers. Payment plans are available and are subject to an interest rate of 12% per annum, calculated on a monthly basis.

The Art Institute Early Payment Incentive Credits
This program rewards students for making an earlier financial commitment to their education. It is a risk-free financial incentive to make early monthly payments towards the cost of education so that future monthly education expenses at The Art Institute are more affordable. For every five on-time monthly payments made to the school before a student starts classes, they will receive a credit equal to the lowest monthly payment of those five payments. The credit is posted to the student's account upon 30 days attendance once in school at The Art Institute. If for some reason the student does not start school, all payments received under this program will be refunded in full within 30 days of the request to return the funds. For more information, contact a Student Financial Planner.