Financial Aid Options

Loans & Grants

Federal and provincial student loans may be arranged to assist with the cost of tuition, school supplies, living expenses and transportation. Financial assistance may be available for students who qualify to supplement the financial resources you have, based on an assessment of financial need established by the federal and/or provincial governments. Options for assistance that may be available to you include:

Use the links above to obtain further information about the Canada/Ontario student loan process.

Ontario Second Career Strategy

Second Career is a newly created Ontario government program designed to assist unemployed workers attend long-term training to help them make the transition to new careers. If you qualify, the Ontario government will provide funding towards tuition, living and transportation costs.

Private Payment Plans

TIPT has a flexible payment plan option designed to accommodate your personal financial ability.

Students may pay by installments and we accept cash, credit card, cheques, or money order. Tuition fees are tax deductible. Official tax receipts issued by TIPT can be obtained at the Admissions Office.

Bank Lines of Credit

Your financial institution may offer options for you to fund your program. Various banks can provide Student Lines of Credit at competitive rates of interest. Different banking institutions have their own criteria in order to determine eligibility. Ensure that you are fully aware of your chosen banking option program requirements prior to choosing a solution that is right for you. Please contact our Financial Aid Officer for details on some of the banks that TIPT students are using.

Some banks include:

Government Sponsorships

There are a number of government programs designed to help students find the funding required to gain the necessary job skills.

Exact program details and criteria change depending on the sponsoring government, and it is advisable to consult a training counselor at one of the government agencies such as Human Resources Development Canada to get specific details relevant to possible funding before signing an enrollment agreement at any college.

Some links are provided below for your assistance:

Investing in your future is vital to achieving your goals. The most effective way to achieve these goals is to create a sound financial plan for your education. Below are some tools to help you accomplish this:

BMO Student Budgeting Calculator

TD Canada Trust Student Budget Planner

RBC Loan Repayment Calculator

Our Financial Aid Office can also assist you in developing your budgeting plan.

You will find useful budgeting information under the Education Savings Calculator.

Key Performance Indicators

Key Performance Indicators (KPI) is a term commonly used in the education sector for performance analysis and surveys conducted annually by an independent body on behalf of the Ontario Ministry of Training, Colleges and Universities (MTCU) to specifically measure how well Ontario colleges meet the needs of students and the market place. It measures student’s graduation rates and their respective student loan default rates.

The default rates of students enrolled in specific programs at Ontario colleges is an indirect measure of student’s employment success since unemployed students are generally likely to default in their loan repayments.

Prospective students are encouraged to inspect and compare KPIs in order to make better and informed decision about career choices, programs, employment and investment in their education

Key Performance Indicators Report:
http://www.tcu.gov.on.ca/pepg/audiences/pcc/

 

TIPT College Financial