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Financing Your College Education

June 19, 2012

Getting a college education is a great investment into your future.  Compared to those with only a high school education, college graduates tend to have higher salaries, better job security, and more opportunities to move up in a company.

One of the larger questions students face when it comes to post secondary education is how am I going to pay for it?  Here are a few tips:

  •  Save, Save, Save.  Try to save as much money as possible while you are in high school.  Every dollar counts, and saving up in advance will help reduce the stress later.
  • Each year Red River College presents awards, bursaries, and scholarships that have been donated by corporations, community organizations and individuals.  Visit www.rrc.ca/awards to find out more details and how to apply.
  • Are you currently working?  Your employer might have some different scholarships or bursaries to offer.  It never hurts to look into it.
  • Finding affordable accomodations is also very important.  Living within your budget is something that can often be a challenge for students.
  • Don’t reply on your credit card to pay your bills.  Credit card debt can add up fast, and the interest rates are often very high.
  • Banks and Credit Unions offer students lines of credit as well, however typically the interest rate is higher than Canada and Manitoba Student Loans.
  • Developing a financial plan to cover your educational costs and living expenses will also allow you to focus on your studies.  Check out www.canlearn.ca and www.studentawards.com for some different online tools to assist in that planning.
  • Canada Student Loan and Manitoba Student Loan assistance is also available.  You can find our more information on student financial assistance and apply online at http://www.manitobastudentaid.ca. With the interactive on-line application, you will receive an estimate of Canada Student Loan and Manitoba Student Loan assistance within minutes of submitting your application. You will receive a letter notifying you of the actual assistance within two weeks.

Do you have further questions about Financial Aid and funding your education at Red River College?  Contact us at financialaid@rrc.ca