Budget accordingly; there is a price tag
on education.
Scholarship: A scholarship is money you receive that helps finance your education that you typically do not have to pay back. It is usually awarded based on academic merit and other factors.

Grant/Bursary: A grant or bursary is an amount of money you receive to help finance your education that you typically do not have to pay back. A grant or bursary is usually awarded based on financial need and other factors.

Financing your education is a huge monetary commitment and there are several resources you, as an Ontario student, have available to you. Scholarships, bursaries, and grants are usually financial assistance options that do not have to be repaid by the student. These monies are often awarded based on academic achievement or specific qualifying factors and need to be applied for. Depending on your post-secondary institution, you will have certain scholarships, bursaries, and grants that you qualify for. The best way to inform yourself is to check your university's calendar for scholarship and bursary descriptions and also make an appointment with a financial aid officer.

Grants are usually awarded by individual departments and are often associated with the undertaking of research. You will also have a variety of general scholarships available to all Canadian students and not specific to individual universities. For a comprehensive list of scholarship and bursary websites please visit the Ontario Ministry of Training, Colleges, and Universities and explore the RESOURCES section below.

When you apply for a scholarship, try following these Tips for Scholarship Applicants:

1. Do not apply unless you are qualified; students who win scholarships are those who have best met the eligibility criteria. Read through the information thoroughly and make sure that you are a candidate for the scholarship.
2. Participate in extracurricular activities; scholarships are not simply awarded by academic excellence. Usually, you must demonstrate that you are an exceptionally well-rounded person as well as a dedicated student. Make yourself stand out: volunteer, be an entrepreneur, get involved with student organizations, and find a hobby.
3. Research resources you may already have; often times students qualify for scholarships through their parents' place of employment or organizations that you are involved in. Check with your parents' work, ask the place where you are volunteering, or if you have a part-time job, make sure you ask your employer.
4. Know the deadline; if you are applying to several different scholarships make sure you do not confuse deadlines. Try keeping the dates organized on a calendar or in a spreadsheet.
5. Proofread your application, and then proofread it again. If you have major spelling or grammatical errors in your application, it may not even be considered. If you have trouble with this, give it to someone else to go over.