Ways to finance your college education in Canada, and how do you pay your university fee payment?

university fee payment and finance your education in Canada
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Some of the most common and well-known forms of financial aid are scholarships, but still, you can apply for other types of financial support. Let’s see which are they and how you can benefit from these scholarships.

1. MERIT-BASED SCHOLARSHIPS 

The merit-based scholarships are awarded based on several criteria, including achievements, academics, talents, hobbies, affiliations with various groups, and career options. These Scholarships are offered by central and state governments, local businesses, large corporations, professional organizations, or universities. Each Scholarship has its eligibility criteria that we must meet.

A. SCHOLARSHIP OFFERED BY GOVERNMENT

Typically, Scholarship holders are exempt from tuition fees. Most of these scholarships last for three, six, or nine months. To receive these types of scholarships, these are some of the mandatory criteria:

● Educational Qualification required by the chosen institution

● Knowledge of a specific language (the language of instruction used in the program that you applied for )

Often, students have to be under a specific age limit to be made avail of this ScholarshipScholarship.

B. SCHOLARSHIP OFFERED BY UNIVERSITIES

The criteria universities offer scholarships are usually academic, excellence, students have to be under a specific age limit (35 years). In addition, you will also find out special scholarships for each degree level.

C. SPORTS-BASED SCHOLARSHIP 

If you want to practice a sport and be a college member, you can qualify for a scholarship offered by your university or college. The good news is that you don’t necessarily have to be very good at the sport you practice.

Sometimes local groups or organizations may offer these sports scholarships, and they usually look at criteria such as community service.

   2. NEED-BASED SCHOLARSHIPS

Grants are also called “gift aid” because they are money-free; basically, they are a type of financial aid that need not be repaid. Grants are primarily need-based when compared to scholarships which are usually merit-based. Commissions are generally based on financial circumstances but may also consider physical or mental disabilities. This form of financial support does not need to be paid back, and its value most times varies from 500 to 2,5000 USD.

  3. STUDENT-LOANS

Student loans for studying abroad are funds that you have to pay back. They function like any other loan, with few differences. You can get it from a government and private bank: it can be a bank from your home country or a foreign bank, the country where you would like to do your studies.

Since most teenagers don’t have a credit history, it is widespread for parents or legal tutors to be co-signers. Nevertheless, interest rates are usually lower and favorable if the student loans are taken from the government. Some of the loans are based on financial need, while others are much like any other loan and are based on your credit score.

   4. STUDENT PRIZES

Student prizes are represented by a certain amount of money that will not technically support your studies but is considered a type of financial aid. Student prizes are one-time awards, ranging from a small amount to a considerable amount.

These Student prizes can be offered as below:

● academic achievements

● performance reward in UG exams

● awarded based on the results of the project and public examinations

● for the best paper in a wide range of subject areas

● rewarding outstanding work submitted for a dissertation, review, or thesis, as well as for overall performance

HOW TO PAY YOUR UNIVERSITY FEE PAYMENT 

University fee payments from India to Canada have been a hiccup for many new students in Canadian universities. Facing troubles and hassles amidst the fee payment process can be a routine for those who lack prior knowledge about the foreign exchange market and money transfer procedures. So, to help all such students and parents with little information about overseas university fee payment, a short write-up about ‘How to pay college fees in Canada from India?’ is elucidated for you. Read and gather as much as you need for a trouble-free fee payment from India to Canada.  

While making a university fee payment from India to Canada, the first thing you need to consider is approaching an authorized dealer. Check the current foreign exchange rates before the transaction process. The service provider will ask you to give the required KYC’s for verification. Once that is done, you can pay college fees in Canada from India at ease. Service providers will remit money to Canadian universities after crediting required Indian rupees to their accounts.

Reliable sources for making the university payment in Canada from India are AD I banks and authorized dealers with AD II or FFMC licenses from RBI. Reaching out to other agents without a proper permit might create unwanted hassles for you. So, always reach out to any authentic sources for riskless university fee payments in Canada from India.

DOCUMENTS NEEDED      

● PAN card of the sender

● University offer letter

● Duly signed A2 form

● Student Passport

● Other necessary documents as requested by the service provider

The above is how you can remit money for university fee payments in Canada from India. Now go forward with your studies and leave the worries of fee payment. A safe and secure university fee payment is now at your easy access.

 

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