Financial Aid
Bursaries
It is important to us that our program be accessible to as many young adults as possible from all backgrounds. Therefore, we are pleased to offer a bursary program to Canadian citizens. In accordance with standard Canadian practices, we use Statistics Canada’s Low-Income Cut-Offs (LICOs) as a benchmark for identifying families that may benefit from Discover Year bursaries.
Statistics Canada’s Low Income Cut-Off Rate (LICO) is commonly used as the unofficial poverty measure in Canada. The LICO is a relative, proportional income-based measure that varies across the province according to population size. Therefore, a household spending more than 55% of its income on food, shelter and clothing, with little extra income to spend on transportation, health, personal care, education, household operations, recreation or insurance, will fall below its LICO.
How to Apply for Financial Aid
Canadian students who are eligible for financial aid bursaries must submit the following information with their application to be considered for a bursary:
1. Copy of most recent T451E (Notice of Assessment) OR three consecutivepay stubs of all working parents/guardians in immediate family
2. Letter of endorsement from a member of the community on official letterhead, testifying to the applicant’s financial need (Letter of endorsement must indicate applicant’s family size, including number of dependents)