On the difference between bursaries and scholarships

Lynne Cuthbertson

 

For anyone interested in going to University or College, Lakeview Credit Union awards five bursaries, three to Dawson Creek, one to Chetwynd and one to Tumbler Ridge. The difference between a scholarship and a bursary is that a scholarship is based purely on academics.

A bursary is based on academics, but the financial needs become more important in determining the successful applicant. In order to apply for the “Face the Future” Bursary from Lakeview Credit Union, (that’s what we call you, “The Face of the Future”), you must have been a member of the Credit Union as of March first of the year of application and attending a post secondary institution in the fall of the same year.

There is also a bursary application, available online which you will complete and return with supporting documents, to your home branch before May 15. The supporting documents include a transcript of your grades from your Secondary School, and a form which asks the following questions: Do you have any existing financial assistance: What are your expected expenses including tuition, room and board, program resource requirements: Anything else you can think of (not including Saturday night pizza).: Have you contributed positively to your community and how have you done that.: What are your financial challenges with post secondary education and how do you plan on resolving them: and the big one: Why should you receive this Bursary? If you choose to apply for a bursary you must hand deliver your application to your home branch by May 15 and the results will be known no later than June 15 of the same year.

The successful applicant will receive $1,000 per year for four years. You will be required to sign photo and information releases, not so hard to do. Each year you also have to supply proof of registration and fees paid and you will have to send this information to Dawson Creek Branch.

Each semester you need to let Dawson Creek know your program progress and remain a member of the Credit Union, in good standing, for all four years. Sounds like a lot of work but you are very capable of it, after all you are the “Face of the Future”!!!

Another student grant is the Learning Grant which awards 4 Learning Grants in the amounts of $1,000 to eligible students for full-time study at a qualifying Canadian college or university in 2014. Any student who is a member of a British Columbia Credit Union , and who has received or will receive a diploma for the year of application is eligible to apply. This grant is also open to first year post secondary students. Applications must be received by April 20, 2014 along with an official transcript of final results of all high school credit courses to date, (post secondary results if applicable), one letter of reference from school principal, teach or instructor, and an essay of 500 words or less, or a three to five minute video. Visit http://www.cricanada.net/learninggrant to obtain a copy of the application form and to submit electronically.

Something for everyone who pays income tax to think about. Is it really necessary to wait until January or February to contribute to RRSPs? Absolutely not. You can get a head start on your contributions by starting a regular payment. It is still tax deductible, and you will be ahead of the last minute run. Many of you already have your Notice of Assessment back with an indication of your allowable contribution for this year.