Financial Aid
VanArts is fully accredited and financial aid is available for all qualifying Canadian or Permanent Resident students. These resources are for helping you plan your tuition and living expenses for a year’s study at VanArts.
Tuition for your program of choice is listed here and is also available on our application forms and your Letter of Acceptance, issued once your application is accepted.
This is our standard tuition payment schedule: $1,000 CDN deposit upon acceptance to hold your seat, and remaining balance due 60% six weeks prior to start date, 40% by end of Term 1 (3 months into studies).
Scroll to the bottom of this page to download a document with detailed information on financial aid options and planning for VanArts. The links below can also be used to go directly to the services provided.
Canadian Government Student Loans
All Canadian provinces participate in the Canada Student Loans Program and have their own loan and grant programs. For further information, contact the Student Financial Assistance Program in the province where you live. Applicants should allow a minimum of three weeks before the program start-date.
For detailed instructions on processing procedures for Canadian Student Loans, visit this page in our Student Info Centre: http://www.vanarts.com/infocentre/student-accounts-and-finance
For general information on the Canada Student Loan program:
For specific information by province:
- British Columbia
- Alberta
- Saskatchewan
- Manitoba
- Quebec
- Ontario
- Nova Scotia
- Prince Edward Island
- New Brunswick
- Newfoundland
- Nunavut
- Yukon
- Northwest Territories
Student Line Of Credit
The cost of borrowing has never been lower than it is today. Student lines of credit are prime + 1% which is currently about 3.25%. A line of credit through a bank differs from a loan, as money is withdrawn only as you need it, and interest is paid only on what you withdraw during your studies. The minimum amount is typically $5,000, and is based on your need, ability to repay, and possible required co-signer. Check with your bank to see if they provide this service, or visit these other banks:
- Royal Bank of Canada
VanArts has established a relationship with RBC Royal Bank to make it easy for you to obtain a student line of credit in the amount you require. Please contact any of the following account managers for assistance:
- Usman Rathore (604-665-6339, usman.rathore@rbc.com)
- Ioan Tepes-Nica (604-678-2882, ioan.tepes-nica@rbc.com)
- Ray Escalona (604-665-8213, raymundo@rbc.com)
LLP - Lifelong Learning Plan
Revenue Canada's LLP allows Canadian residents to withdraw funds from RRSPs, without penalty, to fund education. You must first have a letter of acceptance to a full-time program from VanArts to apply. The LLP allows eligible students to withdraw up to $10,000 tax-free from their RRSP, repayable over 10 years.
RESP - Registered Education Savings Plan
An RESP is a tax-deferred savings plan used by parents to save for their children's post-secondary education. It also allows you to apply for the Canadian Education Savings Grant. For more information, visit Human Resources Canada.
American Students
American students must apply for a student line of credit through their own bank, or any other local bank that provides this service.
Foreign Students
Applicants from other countries will have to check with the Department of Education in their own country for eligibility, or apply for a loan or student line of credit through their local bank.
* The data on this page is provided for informational purposes only and is not in any way to be interpreted as a recommendation, warrantee or representation of any kind. It is each student's responsibility to exercise due care in reading all policies and regulations regarding their finances.
More Info
Download the "VanArts Financial Aid" PDF below for detailed guidance on making a financial plan using the financial aid services provided:
| Attachment | Size |
|---|---|
| VanArts Financial Aid.pdf | 87.13 KB |
