Finance Your Trent Education: Resources for Students
A guide for new and returning students
If you’re feeling uncertain about the financial landscape right now, you’re not alone. And our compassionate team in Financial Aid is here to help. There are many reasons Trent has been named the #1 undergraduate university in Ontario for scholarships and bursaries. Through these challenging times, we continue to provide students with the help and support you have come to expect from us.
We have developed this guide to help you navigate all of the funding resources available to you, here at Trent, through government supports, and beyond. Consider this your one-stop-shop for all financial support and let us help you access the resources you need to make your Trent education more affordable.
Each student's circumstances are unique. Remember you can also combine funding from multiple sources (employment, savings, family, OSAP, scholarships, bursaries) to build your education budget.
Resources Available through Trent University
Financial Support from the Provincial and Federal Government
Resources for Employment and Entrepreneurship
Other Student Financial Supports
Reach out for Support
Whether you’re a new student starting this September or a current Trent student, Financial Aid remains available to help you navigate financing your education, building a solid financial plan, and achieving your goals.
Delivered by the Government of Ontario and administered by Trent University, the Ontario Student Assistance Program (OSAP) is a financial aid program that can help you pay for university. The application for 2020-2021 is now open.
OSAP offers funding through:
grants: money you don’t have to pay back
a student loan: money you need to repay once you’re done school
When you apply for OSAP, you are automatically considered for both grants and loans. Loans are interest-free and do not have to be repaid while you're still studying full-time. If you don’t want to take a loan, you can decline it after your application is approved.
There are also programs to help you repay your student loan once you’re done school.
Trent University can administer student financial support for students from every province and territory. If you are not from Ontario, your home province or territory offers a grant and loan program to help you pay for school. The Government of Canada lists all provincial and territorial student financial support websites in one place.
Trent University helps to administer funding that is delivered to students through the Indigenous Services Canada’s Post-Secondary Student Support Program. Eligible costs covered by the program may include tuition, books, travel support and living allowances.
Trent University Student Bursaries & Scholarships
Trent University is here to help you with financial support to pair with your other resources. We have been ranked #1 in Ontario and continue to offer a combination of scholarship and bursary support to help students throughout the school year.
At Trent we help students with financial need to get a head start on funding their school year. Entrance bursaries are financial need based and are available to new students attending post-secondary for the first time.
Financial support does not end when you arrive at Trent. That is why we award in-course bursaries based on financial need during each term of study. Bursaries are a way that Trent University helps to fill any gaps that might remain after students have accessed other funding sources.
Renewable Entrance Scholarships reward you for academic success and are some of the best in Canada. Students with an entering average of 80% or better can receive scholarships that range from $1000 per year, all the way to $3000 per year for students with an entering average of 95%+. All entering students are already considered, no application required.
Trent University undergraduate students who do not enter with an entrance scholarship get automatically considered for an In-course Scholarship at the end of their first year; no application required. Students with an average of at least 85% can qualify for $1000 per year, and up to $2000 per year for an average of 90% or more.
Students with an average of 90% or higher attending our Durham-GTA Campus can get an additional $1,500 in their first year.
Trent University offers a limited number of highly competitive international scholarships and awards to students eligible for admission to undergraduate studies. Learn more about Scholarships through Trent International.
Trent University’s Financial Aid Office and Student Accessibility Services combine to deliver bursary support for students with disabilities. The Bursary for Students with Disabilities (BSWD) and the Canada Student Grant for Services and Equipment for Students with Permanent Disabilities (CSG-PDSE) helps full and part-time postsecondary students with the costs of their disability-related educational services and equipment.
By submitting a BSWD/CSG-PDSE application, you may receive assistance for the disability-related accommodations you need, such as note-takers, tutors, interpreters or technical aids while you’re in postsecondary studies.
Departmental Awards and Prizes
Colleges and academic departments at Trent University provide recognition and financial support to students.
Students who are over the age of 15 and Canadian residents and have earned at least $5000 in 2019, or in the 12 months, may be eligible to receive $2000 every 4 weeks through the Canada Emergency Response Benefit (CERB). Learn more about CERB eligibility requirements and how to apply.
This benefit is for students who do not qualify for the Canada Emergency Response Benefit (CERB) or Employment Insurance (EI).
The Canada Emergency Student Benefit (CESB) provides financial support to post-secondary students, and recent post-secondary and high school graduates who are unable to find work due to COVID-19. Learn more about CESB eligibility requirements and how to apply.
We recognize that your original summer employment plans may have changed, there are still opportunities out there that can provide you with a big boost over the coming months. Students may still be eligible for additional government supports. Explore Canada Job Bank or connect with Careerspace to get started.
*NEW* Trent Summer Work Experience Program
The Trent Summer Work Experience Program was created in 2020 to help address the challenging employment landscape for students. The program will fund summer employment opportunities that will provide both employment income and skills development for students. These positions are designated specifically for students with demonstrated financial need.
Students who are between the ages of 15-29 who live in Ontario are eligible to apply for funding to start their own business through the Government of Ontario’s Summer Company program. If you are interested in starting your own business this summer, this could be a great way to build some financial resources for September.
There are many scholarships that are available to eligible Trent University students, but that are administered or delivered by external organizations. Check with your family, employer, or community organization. You can also search the web for potential scholarship opportunities.
There are many bursaries that are available to eligible Trent University students, but that are administered or delivered by external organizations. Check with your family, employer, or community organization. You can also search the web for potential bursary opportunities.
A line of credit is a type of loan that lets you borrow money repeatedly up to a pre-set limit. You can borrow money from a line of credit, pay it back and then borrow again, up to your credit limit.
A student line of credit is a product offered by financial institutions to pay for expenses related to post-secondary education, like tuition or books. It can also be used to help cover everyday expenses, like food and transportation.
For students who may not have enough of their own resources, or receive enough funding through government student financial support programs, this can be a piece that can provide you with access to the necessary funding to help meet your costs.
For those facing challenges with ongoing expenses or keeping up with regular payments, visit your bank's website for options proposed by your bank in response to COVID-19, as they may be able to help with varying forms of relief on certain credit products, waive certain fees, and/or delay payments. For homeowners, you can access more information on mortgage payment deferrals via the Canada Mortgage and Housing Corporation website.
Trent University’s Financial Aid Office administers loans for US students through the Sallie Mae educational loan program. Sallie Mae loans can provide funding for up to 100% of educational and related costs.
Personal Savings & Support from Family
Part of the funding equation involves looking at the support that is available from students and their family support network, these can be tough conversations, especially during challenging times. Have an open conversation with members of your family, such as your parents or your spouse. If you are 6 years out of high school, or less, your OSAP assessment may include an expected contribution from your parents.
You may have already set some money aside for university. If you did, great! If you have not set anything aside yet, look at your budget over the coming months and determine whether it’s possible for you to begin setting some money aside for the fall.
Second Career funding is a program to assist eligible residents of Ontario who have been laid off from their job. Second Career provides funding to assist with costs of acquiring new skills, and to help with living costs while pursuing skills-training.
Social assistance is in place to help eligible residents of Ontario who are in financial need.
Ontario Disability Support Program (ODSP) helps people who have disabilities, offering both financial and employment assistance as well.
If you have concerns about financing your education, Financial Aid staff are available virtually to support students. Topics of discussion could include reviewing your OSAP application, applying for financial assistance, developing a personal budget, student financial planning, OSAP repayment advice or scholarship and bursary assistance. Email email@example.com to ask questions or to discuss how we can help you.