Scholarships & Financial Aid: Navigating the costs of Postsecondary Education

 

 

As the Canadian income tax deadline approaches and the global economy grows unstable, many families are beginning to focus on upcoming tuition payments for the next academic year. For most families, the cost of postsecondary education represents a significant portion of their annual budget. Since the majority of LCS graduates pursue higher education at Canadian universities, this article highlights resources specifically for students attending institutions within Canada.

 

 

It’s essential to understand that tuition is just one portion of the cost of attending university. Room and board, along with other fees such as books and insurance, make up the remainder, contributing to the full “cost of attendance.” To help estimate the total investment, parents can use the Education Cost Calculator available at this link.

 

 

A student’s citizenship and residency status play a crucial role in determining the tuition fees they will pay and their eligibility for various funding opportunities. Canadian citizens and permanent residents are eligible for domestic tuition rates, while non-citizen students who require study permits typically face higher international tuition fees.

While tuition rates vary by institution and program, some of the most affordable options for international students include Memorial University (NL), University of Manitoba (MB), and University of Saskatchewan (SK). Additionally, international graduates from Canadian independent boarding schools (CAIS) now qualify for tuition reductions at these institutions:

 

 

 

Historically, most merit scholarships are automatically awarded to domestic applicants upon admission. However, some institutions require direct applications for merit scholarships. Here are a few examples:

 

There are also a limited number of scholarships that require school nominations. Interested Canadian passport holders and permanent residents should apply to LCS’s internal committee, which will select nominees for the national process. Depending on the award, we can usually nominate between one and four students. A list of school-nominated scholarships can be found on our Padlet.

 

Here are some notable Canadian nominated scholarships:

 

Additionally, some U.S. universities offer full funding scholarships that require school nomination:

 

For Grade 11 students interested in applying for the Morehead-Cain (UNC Chapel Hill) or Jefferson (UVA) scholarships, internal applications will be due in May 2025 (Morehead-Cain) and October 2025 (Jefferson), with further application steps in the fall of 2025.

 

 

Merit-based scholarships for international students at Canadian universities can be limited, but opportunities do exist. This year, several international students have already secured between $40,000 and $180,000 in merit funding (to be paid out over four years). Two major scholarships in Canada for international students that require separate applications include:

 

 

For Ontario residents, financial need-based funding is available through the Ontario Student Assistance Program (OSAP). The OSAP Aid Estimator tool allows families to estimate potential government aid based on income. OSAP will open for applications in May 2025, and awards can include grants (which do not require repayment) and loans (which are interest-free until six months after graduation).

Additionally, community-based scholarships are also available. These scholarships recognize leadership and involvement in community activities and can often be used at any institution. Examples include:

 

 

 

There are also increasing funding opportunities for students pursuing careers in STEM (Science, Technology, Engineering, and Mathematics) or trades. Some examples include:

 

 

 

In addition to institutional scholarships, students are encouraged to use external scholarship search engines to find additional opportunities. Here are some popular platforms:

 

While searching for scholarships can feel overwhelming, a focused and strategic approach to applications can lead to success. Citizenship, family resources, and intended destination all play significant roles in determining eligibility for different opportunities. We’re proud to share that over half of our current seniors have already received merit-based funding for their postsecondary education, and the LCS Class of 2025 has already secured over $2 million in scholarships. We look forward to the final tally once spring admission offers are confirmed. Families, please reach out to your guidance counsellor if you wish to discuss any of this further, we understand that this is a private matter and individualized conversation is required.