Bursaries, loans, and government assistance
Schulich Entrance Bursaries are available to incoming, full-time, domestic Master’s level students who have demonstrated financial need. To be considered for an entrance bursary, applicants complete an online financial statement, the link will be emailed once we have received and processed your application or with your offer of admission. Bursaries are grants and do not need to be repaid.
Students who can demonstrate financial need will be considered for bursaries. Bursary applications are available at the beginning of each term.
|Schulich Travel Bursary||Maximum $1,500|
|Russell and Suzy Campbell Bursary||$1,125|
|The General Motors of Canada Limited Bursary||$1,000|
|The Santino Acchione 50th Anniversary MBA Bursary||$1,000|
|The Schulich School of Business Single Parent Bursary||$1,000|
|Jose A. Danobeitia Award||$500|
|Michael and Mara Badali Bursary||$500|
|IMBA Work Term Bursary||Equivalent to full-time tuition fee for the semester|
|International Student Emergency Bursary||Variable|
|Nawel K. Seth Loan||Up to $1,000 (must be repaid)|
|The Claridge Israel Inc. Global Leadership Bursary||Variable|
|Schulich Case Competition Bursary||Variable|
|The Schulich School of Business Alumni Bursary||Variable|
|Special Program Internship Bursary||Variable|
Royal Bank Student Line-of-Credit Program – Domestic Students
Schulich students who are Canadian citizens or landed immigrants may apply for the Royal Bank’s Student Line-of-Credit Program. The Royal Credit Line for Students provides students of the Schulich School of Business with a personalized loan to help finance their education. Students may apply for a credit line before the academic year begins.
The Royal Bank provides one-on-one professional financial advice to Schulich students through a Relationship Account Manager, helping students to manage their loans while at Schulich and following graduation. Representatives from the Royal Bank are available to meet with students on an individual basis at Schulich during the first two weeks of the fall and winter terms.
Interest must be paid on the amount owing each month. The interest rate charged as of 2013-2014 is at a preferred rate of prime plus 0.5%. Following the completion of studies, graduates have a one year grace period during which only monthly interest is continued to be paid.
To find out more about this program, please contact Ms. Angele Benoit-Chafe at the Royal Bank Branch below:
Royal Bank (Hwy 7 and 400 Branch)
3300 Highway #7, Suite 100,
Concord, Ontario L4K 4M3
Phone: (905) 738-3492
For general information, please contact the Royal Bank at 1-800-769-2555 (Royal 5-5), 24 hours a day, 7 days a week, or visit their website at www.royalbank.com.
Ontario Student Assistance Program (OSAP)
Full-time students may be eligible for government student loan funding through the Ontario Student Assistance Program (OSAP). OSAP is a need-based program available to Canadian citizens and landed immigrants who are Ontario residents.
Information and application forms for assistance programs administered by the Province of Ontario are available at http://ontario.ca/osap.
Part-time students may apply for a government student loan through the Part-time Canada Student Loan program.
For details on the OSAP program please visit York University’s website at http://osap.yorku.ca/
Out-of-Province Government Student Loans
Students who are residents of other Canadian provinces may apply for a government loan from their home province. For information regarding other provincial student loan programs, consult the website of your provincial student assistance office. Out-of-province student assistance information and website links are available at http://sfs.yorku.ca/aid/outofprovince/.
Lifelong Learning Plan
The LLP allows you to withdraw up to $10,000 a year (Max $20,000) from your registered retirement savings plan (RRSPs) to finance training or education for you or your spouse or common-law partner. Amounts withdrawn under the LLP do not count towards income and the RRSP issuer does not withhold taxes on these amounts. Withdrawals must be repaid over a period of no more than 10 years.
For further information on this plan, visit the government’s website at www.ccra.gc.ca.
U.S. Student Loans
Schulich students who are citizens of the United States are eligible to apply for the Federal Direct Student Loan Program and the Graduate/Professional PLUS (GRAD PLUS) Loans through the U.S. government. Information about eligibility and application procedures for the loans is available at http://sfs.yorku.ca/aid/usloans.
Student Loans for Residents of India
York University has a loan program with Global Education using Credila Indian Student Loan Program. This loan is designed to assist students from India who require funding for educational expenses. Please see the York Website for more information.
Student Loans for Residents of Mexico
Residents of Mexico are able to apply for a loan through the Fund for Development of Human Resources (FIDERH) which is a federal trust managed by the Bank of Mexico. Students can also explore funding options through the Mexican Foundation for Education, Technology and Science (FUNED).
Students who pay all or part of the program fee personally are eligible to claim a tuition tax credit from the Canada Revenue Agency. The purpose of the tuition tax credit is to allow students to reduce their income taxes by taking into account tuition fees. For more information, ask a professional income tax advisor to give you an assessment of the full impact of fees on your personal income tax situation.