Training Supports and Services

Financial considerations play a critical role in career, education and life decisions. There are a number of financial assistance programs available to support individuals with achieving their education and skills development goals.

• Loans

• Scholarships, bursaries and grants

• Income support and employment insurance recipients

• Debt reduction

• Additional Resources

Loans

Loans are a common source of financial assistance to assist individuals who are pursuing post-secondary education and training opportunities.

Student loans are available from the federal and provincial governments. For more information please visit: Student Financial Services, Department of Education.

Chartered banks, credit unions and finance companies may also offer loans to students and lifelong learners. Contact information for these institutions can be found in the yellow pages of the telephone book or by following these links:

Chartered Banks

• Bank of Montreal

• Canadian Imperial Bank of Commerce

• HSBC Bank Canada

• National Bank of Canada

• Royal Bank

• Scotia Bank

• Toronto Dominion Bank

Credit Unions

• Newfoundland & Labrador Credit Union

• Credit Union Central of Canada

top

Scholarships, bursaries and grants

Scholarships, bursaries, and grants are a potential source of financial support for education. These are often provided by community organizations, private colleges, universities and local employers. Contact schools, organizations and employers directly to find out more, or follow the links below.

• Scholarships - Canada Millennium Scholarship Foundation

• High School Scholarships - Department of Education

• Scholarships - Memorial University

• Post-Secondary Scholarships - Department of Education

• Student Aid Newfoundland and Labrador - Up-front Provincial Grants

top

Income support and employment insurance recipients

Persons in receipt of Income Support and those receiving, or having received Employment Insurance benefits in the province may be eligible for training allowances and other educational supports through the following programs and organizations:

• Department of Human Resources, Labour and Employment

• Human Resources and Social Development Canada

• Skills Development Program (HRSDC)

top

Debt reduction

There are a number of government programs available to help individuals reduce their student loan debt and to provide assistance for those experiencing difficulties in meeting repayment obligations.

• Student Aid Newfoundland and Labrador - Debt Reduction Grants

• Student Financial Assistance - Repayment Assistance Plan - CanLearn.ca

Other resources that can help individuals make financial decisions include:

• Canada's Education Savings and Student Financial Aid Resource - CanLearn.ca

• Student Financial Planner

• Student Loan Repayment Calculator

In addition, the link below lists a number of sites describing financial resources and employment programs that may assist in reducing student loans.

• Financial Supports for Skills Development

top

Additional Resources

• Please visit the Students / Lifelong Learners page to access a comprehensive directory of links to related resources and tools.