Financial Aid & Student LoansInformation and Options
When you commit to investing time and money in your education, we know it can sometimes be challenging to plan and pay for it. Infofit offers many different ways to help you structure your payments, including payment plans. Our Student Advisors can walk you and/or your family through all of your options for financial assistance and payment.
Student Loans are available to Canadian Citizens and Landed Immigrants/Permanent Residents, enrolled in Infofit’s Personal Training Program, if they qualify. To be eligible, you must meet all the Student Loan criteria.
Government Student Loan funding is based on tuition, fees, books, supplies, living expenses, income and available resources and reaches a maximum yearly level.
Our Admissions Advisors are available to help answer your questions and provide information on applying for Student Assistance. You can apply on line on the Student Aid BC website or by calling Canada Student Loans toll-free at 1-800-561-1818.
StudentAid BC has created a series of YouTube videos to help students learn about the student financial assistance journey from start to finish.
Student Lines of Credit
A student line of credit is a great options for Canadian students with a valid co-signer. A line of credit is different from a loan because you take money out only as you need it and pay interest only on what you withdraw while you are in school.
Many financial institutions also offer lines of credit or personal loans. These student lines of credit often start at a minimum of $4,000. See the below links for more information:
Royal Bank Links:
B.C. Access Grant
If you are enrolled in Infofit’s full- or part-time personal training certification program and qualify for a student loan, you may be eligible for the B.C. Access Grant. The grant amount is based on your family’s income, and is between $4000 - $1000. Please see the How to apply for a loan page on the StudentAid BC website.
Lifelong Learning Plan (LLP)
LLP is a program that allows Canadian residents to withdraw funds from their Registered Retirement Savings Plans (RRSPs), without penalty, to fund their education.
To apply, you must have a letter of acceptance to a full-time program from Infofit. The LLP allows you to withdraw up to $10,000 per year (to a maximum of $20,000) for you, or your spouse, without the withdrawal being taxed. You have up to ten years to pay back your withdrawal.
Canada Registered Education Savings Plan (RESP)
An RESP is a, tax-deferred, savings vehicle generally used by parents to save for their children's post-secondary education. As Infofit is a registered institution, RESP's are accepted.
Other Funding Options Available
Work BC – Offers services to help fund your education and help get you started in a new career. You would need to contact your local office and get set up with a case worker
YWCA Work BC center - The team of friendly, experienced employment specialists at r WorkBC Centres support you at every step, from career planning, to accessing funding and training, to connecting you with employers who are hiring and more. All WorkBC services are free.
Frog Hollow – Offers support and career planning for newcomer individuals and families in their transition to a new life in Canada
Student Aid Access Grant - This program provides upfront, non-repayable financial assistance to low- and middle-income students enrolled in full-time studies at B.C. public post-secondary institutions
MOSAIC: MOSAIC provides settlement and employment services for newcomers throughout Vancouver and the Lower Mainland.
Back In Motion - Back in Motion Rehab’s Employment Services (JSSS) provide Comprehensive Employability Assessments, Employment/Career Exploration Assessment services and Job Development Services for injured workers and people with disabilities.
Open Door Group - Built on the fundamental belief that everyone has the ability to succeed, they are committed to providing tailored services to everyone that walks through their door. Whoever you are, wherever you may be in your career journey, they are there to support you.
Loans for Newcomers
Windmill Microlending is a national charity providing affordable loans to skilled newcomers.
Windmill Microlending, a charitable organization, provides immigrants and refugees with affordable loans. These loans are specifically designed to assist individuals in covering the expenses associated with education, training, certification, designation, accreditation, and professional development courses within Canada.
Financial support in the form of a low-interest loan, with a maximum limit of $15,000. To explore further details regarding eligibility requirements for these loans, you can find additional information on their website.