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.
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 | For your first year |
| Entrance bursary (Ontario students) | Financial need | No | Yes | $1,000 - $5,000 | For your first year |
| Waterloo bursary (Canadian students) | Financial need | No | Yes, once you're at Waterloo | Varies | Throughout your time at university |
| Government grants | Financial need | No | Yes | Varies | |
| Government student loans | Financial need | Yes | Yes | Varies |
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 | Throughout your time at university |
| Non-University of Waterloo scholarships | Financial need and/or academic or personal achievement | No | Usually | |
| Registered Educational Savings Plans (RESP) | Your parents' or guardians' investment | No | n/a | |
| Part-time job | Your skills and interests, availability of jobs | No | Yes |
Tip: If you live in Ontario, you should apply for the Ontario Student Assistance Plan (OSAP) even if you think you don't qualify. Many factors affect your eligibility!
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 |
|---|---|---|---|---|
| Upper-year scholarships and awards | Academic or personal achievement | No | Yes | Varies |
| Co-op work term earnings | Your program, how far through your degree you are, and your employer | No | Yes | Varies depending on your program |
| Work-study programs (part-time on-campus jobs) | Financial need | No | Yes | up to $2,000 during a four-month school term |
| Part-time job (on or off campus) | Your skills and interests, availability of jobs | No | Yes | Depends on the job |
| International undergraduate bursary | Financial need; must be a full-time international student | No | Yes | Varies depending on how many courses you're taking |
Government assistance
Our Student Awards and Financial Aid website explains the different types of aid.
- Ontario Student Assistance Program (OSAP). 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.
How to get a summer job
A summer job can help you make money for school and gain valuable work experience.