I wasn't affected by inflation -- I had nothing to inflate.
  -- Gerald Barzan
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Free Money

Financing your education can be smooth sailing if you plan and do a little homework early. You should look at a variety of ways to pay for your education.

There are several ways to pay for your education:


MUN Jobs

Save Cash each Term

Canada Study Grants

Learn about money you don't have to pay back

What is it?
Free money refers to money that you do not have to pay back, such as Schlorships, Grants, Bursaries, gifts of money, Awards.
Thinking about free money ahead of time should result in two things:
  • early involvement
  • early application

Finding free money will take lots of initiative on your part. Whatever you do, don't wait until the last minute to look for free money because finding it could take some time, and the deadlines to apply for these funds usually fall well before the academic year the funds are intended to pay for. Chances are pretty good that if you're not looking for free money a year ahead of time, you won't receive any!

Early Application
As the saying goes, The early bird catches the worm. This advice is critical when applying for free money. Make sure you do your homework to determine the deadlines for filing applicaions, where applications are necessary.

Where to look for Free Money
This will take some effort on your part, but there are thousands of potential scholarships, awards, bursaries, and grants out there for the picking. Start looking as soon as possible. Cover all possibilities to recieve free funding. For example, it's a good idea for parents to approach their employer - some companies may provide money to children of employees.

When searching for scholarships, bursaries or grants, consider that you may be eligible for cash that is put aside for specific types of students, such as these:

* Cultural background
* Memberships in specific groups
* Field of study
* Special needs or disabilities
* Athletics and the arts
* Employers

Links to Free Money:   Scholarships

Canada Millennium Scholarship Foundation In its 1998 budget, the federal Department of Finance announced that, beginning in 2000, the government will hand out scholarships to 100,000 students, averaging $3,000 per student per year, up to a maximum of $15,000 per student over four years.

Scholarships and Awards There's no time like the present so here's a complete listing of scholarships, bursaries, and awards offered to Memorial University students. An online application form will be made available in the near future. If you are interested in applying for a scholarship, bursary or award, please contact 737-7910 to find out more and to receive an application.

studentawards.com
This is an excellent site to see just what scholarships & awards you particularly qualify for. Also contains an online job search to match jobs to your qualifications.

Free Money:   Sources of Free Money for Education



Scholarships & Awards

Grants & Bursaries

Fellowships & Stipends
What is it? Funds to cover educational costs Funds to cover educational costs
Funds for specific research areas or academic fields of study

Who qualifies? Normally based on academic achieve- ment, community involvement or special skills.

Normally based on financial need. Restrictive. Those with academic achievement in specific areas
Where do we find it? Civic organizations, employers, colleges and universities, individual donors.

Colleges and universities,
the government
(CESG and CSLP), private organizations.

Government agencies, private foundations, colleges and universities.
How much will it be? Varies. Most are small ($500 to $ 1, 000).

Most are small amounts. Can be large amounts.
How long will it last? Most are annual. Some are renewable Most are annual. Some are renewable.

Varies by funding and nature of the project.
Is it taxed? Taxable. Only the first $500 excluded. Certain "prescribed" prizes will be tax-free. Taxable. Only the first $500
is excluded.
Taxable. Costs incurred during research may be deductible from this income.