Get Started at Toronto Film School

CANADA STUDENT LOANS AND GRANTS PROGRAM

The Government of Canada offers students financial assistance in the form of both loans and grants to make it easier to earn a post-secondary degree or diploma.

Grants do not need to be repaid, while loans are typically interest-free during the education period and then repaid after students finish their post-secondary program. The Grants program offers funding for students who demonstrate specific needs (e.g. students from low- or middle-income families, students with disabilities, students with dependents and part-time students).

• Canada student grants and loans program
• Information on repaying a student loan
• Government of Canada’s financial resource page for students
• Student Aid – Canada.ca

ONTARIO STUDENT ASSISTANCE PROGRAM (OSAP)

The Ontario Student Assistance Program (OSAP) is a government-based financial aid program for Ontario resident students that can help to pay for college or university.

OSAP offers funding through:

• grants: money you don’t have to pay back
• a student loan: money you need to repay once you’re done school

Students may be eligible to receive assistance to meet the cost of post-secondary education, including tuition, books, supplies and basic living expenses.

OUT-OF-PROVINCE FINANCIAL AID

Students from most provinces and territories are eligible for Financial Aid programs

STUDENT LINES OF CREDIT THROUGH CANADIAN BANKS

Most major banks in Canada offer lines of credit and other programs specifically for students.

Usually full-time students are eligible for student lines of credit. Although most banks give these loans to Canadians studying at Canadian institutions, they are sometimes available for students who are studying abroad. While most banks require that undergraduates have a co-signer for their line of credit, this is not usually required for graduate students.

For any line of credit program, students typically must visit their local branch to apply.

Information on programs for students through major banking institutions:

• TD Canada Trust
• Bank of Montreal (Student Line of Credit)
• RBC Royal Bank (Credit Line for Students)
• CIBC (Educational Line of Credit program)
• Scotiabank

The following is an example of a TD Bank student line of credit:

AMOUNT AVAILABLE:

maximum available is $10,000 per year for a maximum of four years ($40,000).

COST:

The interest rate is prime plus 1% set monthly.

REPAYMENT:

An interest-only repayment begins while a student is in school and continues for 12 months after graduation. After that students begin monthly principal plus interest payments that will repay their loans in up to 20 years.

The Registered Education Savings Program (RESP) is a program from the Government of Canada that helps Canadians save for a child’s post-secondary education. Both degree and diploma programs at Toronto Film School are eligible under the RESP.

Students with an RESP typically require a letter of acceptance from their faculty to have funds released for their use.

LIFELONG LEARNING PROGRAM (LLP)

The Government of Canada’s Lifelong Learning Plan (LLP) allows Canadians to withdraw up to $10,000 in a calendar year from their registered retirement savings plans (RRSPs) to finance a full-time training or education program for themselves or a spouse or common-law partner. (Canadians may not use the LLP to finance the training or education of their own children, or those of their spouse or common-law partner).

Students who meet the LLP conditions every year may withdraw up to the maximum LLP RRSP amount until January of the fourth year after the year they make their first LLP withdrawal. The maximum amount that can be borrowed from an RRSP under this program is $20,000 in total.

EMPLOYMENT INSURANCE

Students at the Toronto Film School who are Ontario residents may be eligible for funding for Toronto Film School post-graduate diploma programs through Employment Insurance (EI). The EI program provides temporary financial assistance to unemployed Canadians who have lost their job through no fault of their own, while they look for work or upgrade their skills. Students who are on EI or have recently been receiving it may be eligible.

UNITED STATES MEXICO CANADA AGREEMENT BURSARY (USMCA)

In honour of the United States Mexico Canada Agreement (USMCA), international students showing proof of US or Mexican citizenship will not be charged the international tuition fee. These students will pay the domestic tuition rate for Toronto Film School and Yorkville University programs.

• Tuition fees do not include books, expendable supplies, equipment and resources, and may increase up to 6% annually. There are a variety of payment options available to new students.
• As an international student, you can cancel a contract with Toronto Film School or withdraw from a program for any reason with written notice.
• If you are unable to obtain a student visa to enter Canada, you will be entitled to a refund (as long as you give us written notification before half of the program is over).

If you meet the academic requirements of your program, you will be issued a Conditional Letter of Acceptance (CLOA).

To receive the IRCC (Immigration, Refugees, and Citizenship Canada) letter for your study permit application, you will need to pay a tuition deposit of $7,000 CAD for 18 month diploma programs or $6,000 CAD for 12 month diploma programs . You may be waived from this requirement if you meet one of these two conditions:

• You show proof of deposit and registration in an ESL school in Canada.
• You have an active study permit currently used for another educational institution in Canada.