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Financing Your Education

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Financing Your Education

Eastern Academy students have several options available when financing their education. Whether you are a recent high school graduate, returning to work after being out of the workforce, a new Canadian or looking to improve your career, we have funding alternatives that can work. Our Financial Aid Officers are available to help you with financial planning and provide support completing the required documents. The most common ways that students pay for their college education include:

Student Aid

The Newfoundland and Labrador Department of Education has a Student Aid program that is used by many people across the province. Consisting of provincial and federal government loans and grants, the program is available to students with little or no credit history and offers very flexible repayment terms.

Student Aid information for other provinces and territories can be found at the noted links:

Student Financial Assistance

The Canadian federal government offers Student Financial Assistance programs including student loans, grants, savings, scholarships, and other financial assistance programs for prospective students whom qualify.

Government Sponsorship

The Department of Immigration, Population Growth, and Skills has several programs that fund students up to 100% to complete Diploma programs at colleges like Eastern Academy.

Registered Education Savings Plan (RESP)

Students who have been named a beneficiary under a RESP may use these funds to finance their Eastern Academy education.

Monthly Payment Plans

An interest-free monthly payment plan can be arranged to suit your needs. All students are automatically eligible for payment plans with no credit check or co-signer required.

Life-Long Learning Plan

The Canadian Revenue Agency (CRA) has a Life-long Learning Plan (LLP) that allows individuals to withdraw from their RRSP to finance their education or that of their spouse.

Employer, Union and Insurance-Sponsored Education Programs

Some employers, unions, and insurance plans provide education assistance and tuition reimbursement programs for employees, injured workers, and recently laid-off employees. Check with your employer or union to see if they offer a program that can work for you.

Scholarship and Bursaries

There are a number of scholarships and bursaries that Eastern Academy students are eligible to receive. Your Admissions Consultant will be happy to provide you with a list that might apply in your situation. To apply or learn more about scholarships offered directly by Eastern Academy please click here.

Other Scholarships and Bursaries

Other Scholarships, Bursaries, and Grants: Eastern Academy are pleased to maintain a list of external awards for which our students and/or graduates qualify. They include “Department of Education” Scholarships, Apprenticeship Completion Grant, Apprenticeship Incentive Grant, Apprenticeship Incentive Grant for Women, Canadian Forces Ombudsman, Department of Education and Early Development, Epilepsy NL, Johnson Insurance, Joyce Family Foundation, NAPE, NL Credit Union , Newfoundland and Labrador English School District, NOIA Hibernia Scholarship, Qalipu First Nation, Recreation NL, Scholarships Canada, Sport NL – Funding Programs, Student Awards, Support Our Troops.

Student Lines of Credit

Eastern has developed partnerships with several banks and credit unions to make it easy to access Student Lines of Credit to finance your education.

Budgeting For College

When planning to attend a post-secondary institution, having a good budget is important. This Student Budget Worksheet will help ensure that you clearly understand your study period resources and costs. Our Admissions Team is always available to help you do your budget, answer any questions and explain available scholarships, bursaries or funding sources.

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