The Feminist Financial Handbook. Brynne Conroy
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If you are going back to college to attend grad school, looking into fellowships can be worthwhile. Fellowships, like grants and scholarships, do not need to be repaid. They are issued to graduate students pursuing their master’s or doctorate degrees and can bring in $50,000 or more to fund your research and living expenses. They do tend to be extremely competitive, and not all are in the five-figure range. That doesn’t mean they’re not worth pursuing.
To find relevant fellowships, Hill says you can start by googling “fellowship + (your major here).”Another great place to get more information is from the financial aid office of the school(s) you want to attend.
Doing the Math
Let’s say you’re going to a state school to complete an undergraduate degree. The tuition is $9,970 per year. You qualify for a full Pell Grant and a state grant of $3,000, bringing your total financial aid thus far to $8,920.
You’re over the moon that you only owe $1,050 towards tuition, but you know you can do even better. You apply for refundable scholarships, being careful to read the terms and conditions on each application. Of the ten you apply for, you are awarded five. Each scholarship is worth $2,000 to be spread over two semesters. That means that partway through each semester, your school—which you know allows refundable scholarships because you checked before you applied—cuts you a check for $4,475.
It might not cover your living expenses for the entire semester, but $4,475 twice a year definitely reduces the number of hours you have to work, alleviating some of the stress of going back to school. If you want to eliminate work completely, it can be done. You just have to search and apply for and then be awarded more refundable financial aid.
You’re not only going to college for free; you’re getting paid to do it.
Financing School as a Canadian
The sticker price of university in Canada is lower than in the US, with undergrad degrees averaging $6,571CAD/year. Because college attendance actually reduces median income for women, we will not be reviewing financing options for apprenticeship fields. We will only be looking at financing the cost of university.
Funding Through the Government of Canada
There are a few federal grants and programs that may help you fully fund school as a nontraditional student depending on your income, family situation, and province or territory of residency. Because they run their own financial aid programs at the provincial or territorial level, residents of the Northwest Territories, Nunavut, and Quebec are not eligible for the following grants from the Government of Canada.
To apply for these grants, you will need to contact the organization overseeing financial aid in your province or territory. Each province or territory has their own application process, but typically you only have to fill out one form to be considered for the following types of aid. Be sure to ask about the specifics in your area before filling out the application. To find out which organization you need to approach, check out the information for your province or territory on the Government of Canada website.
Canada Student Grant for Full-Time Students
If you’re enrolled in a full-time program of study, the Canada Student Grant for Full-Time Students can give you up to $3,000 per year as long as your school qualifies. Again, grants are money you don’t have to pay back.
If you’re single, you can currently get the full grant with a gross income of up to $30,000 CAD. But a prorated amount can still be awarded to you if your income is up to $61,513 CAD.
If you have three kids, or a partner and two kids, you can get the full grant with an income of up to $60,000 CAD. You can get a prorated award if your income is $112,817 CAD or less.
The income limits are liberal, going all the way up to $138,897 CAD for a family of seven.
Recently, this grant became even more attractive for nontraditional students. As of August 1, 2018, if you’ve been out of school for over 10 years, you are eligible for up to $1,600 CAD in additional funding each year, bringing the potential grand total to $4,600 CAD.
If you qualify for this grant, you now only need an additional $1,971 CAD to cover tuition at your average university.
Canada Student Grant for Full-Time Students with Dependents
If you have children, this grant could net you an additional $1,600 per school year for each dependent you have under the age of twelve. If you have a dependent over age twelve, they still count if they have a disability.
For this grant, you do have to qualify as a low-income household. These income thresholds vary based on your province or territory of residence. As an example, we’ll look at Manitoba, which has the highest income threshold—and New Brunswick, which has the lowest.
A single mother of two children under the age of twelve in Manitoba can earn up to $38,143 CAD and still qualify for this grant. That same woman in New Brunswick could only earn up to $32,041 CAD. These numbers go up depending on the number of children you have, maxing out at $65,953 CAD for a family of seven in Manitoba.
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