If you're like most students, you'll use multiple sources of money to pay for university. It may take a bit of research, but there are different ways you can find money to help pay for school.
If you live in Ontario, you should apply for the Ontario Student Assistance Plan (OSAP) even if you think you don't qualify because many factors affect your eligibility. Visit the OSAP website for details.
How Waterloo can help in first year
| Type of award | Based on | Need to be repaid? | Application required? | Value | When available |
|---|---|---|---|---|---|
| Entrance scholarships | Academic or personal achievement | No | For a small number of scholarships | $500 - $100,000 | First year |
| Entrance bursary (Ontario students) | Financial need | No | Yes | $1,000 - $5,000 | First year |
| Waterloo bursary (Canadian students) | Financial need | No | Yes, once you're at Waterloo | Varies | First year and upper years |
| Government grants | Financial need | No | Yes | Varies | First year and upper years |
| Government student loans | Financial need | Yes | Yes | Varies | First year and upper years |
Other sources of money for first year
| Source of money | Based on | Need to be repaid? | Application required? | When available |
|---|---|---|---|---|
| Your savings (and/or family contributions) | n/a | n/a | n/a | First year and upper years |
| Non-University of Waterloo scholarships | Financial need and/or academic or personal achievement | No | Usually | First year and upper years |
| Registered Educational Savings Plans (RESP) | Your parents' or guardians' investment | No | n/a | First year and upper years |
| Part-time job | Your skills and interests, availability of jobs | No | Yes | First year and upper years |
What about after first year?
You can continue to use government assistance, bursaries, scholarships, part-time jobs, RESPs, and any personal savings to pay for your upper years. There are also new sources of funding after first year.
| Source of money | Based on | Need to be repaid? | Application required? | Value | When available |
|---|---|---|---|---|---|
| Upper-year scholarships and awards | Academic or personal achievement | No | Yes | Varies | After first year |
| Co-op work term earnings | Your program, how far through your degree you are, and your employer | No | Yes | Varies depending on your program | After first year for most programs |
| Work-study programs (part-time on-campus jobs) | Financial need | No | Yes | up to $2,000 during a four-month school term | Usually after first year |
| Part-time job (on or off campus) | Your skills and interests, availability of jobs | No | Yes | Depends on the job | Throughout university |
| International undergraduate bursary | Financial need; must be a full-time international student | No | Yes | Varies depending on how many courses you're taking | After first year |
First-year and upper-year resources
Government assistance
- Ontario Student Assistance Program (OSAP) provides loans and grants for Ontario students. You should apply even if you don't think you qualify because many factors affect your eligibility.
- Canadian students from outside Ontario
- U.S. students
- Veterans of Canada's armed forces can access funding of up to $80,000.
From the Missing Manual
Visit our Missing Manual website for tips and advice from Waterloo students and staff. Topics include
Budgeting for your first year
Figuring out finances for university is stressful for many students because of how much it costs.
How to save money as a student
Learning how to save money is a skill that will come in handy for the rest of your life. It’s easy to overspend if you’re not careful, and that can make paying for university even more stressful.
How to get a summer job
If you’re out of school for the summer, there are plenty of jobs you can get to help make some extra money and gain valuable work experience.