Financing Your Education in Canada: Student Aid, Savings, Lines of Credit & Building the Right Funding Mix

Paying for Your Education in Canada: How Much Should You Actually Borrow?

Getting accepted into college or university is one thing. Figuring out how to pay for it is another.

Between tuition, rent, groceries, textbooks and everyday expenses, the cost of education can add up quickly.

But just because you're approved for a student line of credit doesn't mean you should use it all.

In Part 2 of our Sage Money in Real Life series for ages 18–25, Sabiha Mukadam explores how to build a smarter education funding plan, including:

• Scholarships, grants and RESPs

• Government student loans vs. private lines of credit

• How to calculate your actual funding gap

• What to know about co-signers and repayment

• How to avoid borrowing more than you really need

The key takeaway?

Don't start by asking, "How much will the bank lend me?" Start by asking, "How much do I actually need?"

Your education is an investment in your future. The right financing plan can help you get there without taking on unnecessary debt.

Read the article, watch the video or listen to the podcast here: https://scfplanning.com/youth-corner/financing-your-education-in-canada-student-aid-savings-lines-of-credit-building-the-right-funding-mix/