Student Funding Options

Tuition Installment Plan

Pacific Institute of Culinary Arts offers an interest-free tuition payment plan. Tuition may be paid in one lump sum or students may make payments as follows:

• 1st installment due within 10 business days of submitting your application
• 2nd installment due and payable 30 days prior to course commencement
• 3rd installment due and payable on first day of course
• 4th installment due and payable on first day of second month of course
• 5th installment due and payable on first day of third month of course

Government Student Loans

Financial assistance can be obtained through the Canada student loan and provincial student loan programs. This assistance is available to Canadian citizens or landed immigrants to help finance their education. The amount that can be borrowed will depend on the student’s financial need.

To obtain student loan application package, visit an educational institution nearest you. Most admissions offices in colleges and universities and some private schools have information material and application forms, or visit the Human Resources and Skill Development web site: www.hrsdc.gc.ca.

Student Lines of Credit

Many major financial institutions offer lines of credit for students enrolled in full-time programs. These lines of credit are based on eligibility and the credit limit will vary with each student. In most cases, a parent or family member is required to co-sign the line of credit.

• Bank of Montreal’s Brain Money Student Line of Credit: www.bmo.com
• Royal Bank’s Royal Line of Credit: www.rbcroyalbank.com
• CIBC Education Line of Credit: www.cibc.com
• TD Canada Trust Student Line of Credit: www.tdcanadatrust.com
• ScotiaLine Personal Line of Credit for Students: www.scotiabank.com

Lifelong Learning Plan (LLP)

Full-time students may be eligible for the Lifelong Learning Plan (LLP). This plan allows students to withdraw amounts from RRSPs to finance training or education. Eligible withdrawals under the LLP from an RRSP are tax-free, but must be repaid within 10 years. For more information on the Lifelong Learning Plan, visit the Canada Revenue Agency web site: www.cra-arc.gc.ca

Registered Education Savings Plan & Canada Education Savings Grant

Students may be eligible to withdraw from a Registered Education Savings Plan (RESP). An RESP is a savings account that commences as a child, (usually by the parents or other relatives) and matures when the individual is ready for post-secondary education. An RESP also allows students to apply for the Canada Education Savings Grant (CESG). These are grants from the Government of Canada that are paid to the beneficiary of an RESP. Visit the Human Resources and Skill Development web site for further information: www.hrsdc.gc.ca/en/gateways/topics/cgs-gxr.shtml

BC Passport to Education

The BC Ministry of Education provides financial awards to worthy secondary school students in both academic and non-academic areas. For further information, visit the Ministry of Education web site: www.bced.gov.bc.ca/awards/passport/

Les Dames d’Escoffier

Les Dames d’Escoffier International, British Columbia Chapter, Scholarship Committee is a volunteer group composed of respected food and wine professionals. Each year this committee awards scholarships to women desiring to establish or further a career in the fields of food, wine, hospitality, nutrition, food technology, the arts of the table and other fields as they relate to these disciplines. Awards are based on merit and ability and vary in amount. Scholarships are open to women of all ages and skill level; however, applicants must be BC residents. Application deadline is March 31st of each year. For more information, visit: Les Dames d'Escoffier Website.

Other Scholarships and Bursaries

Student may apply for various scholarships and bursaries. Money obtained through scholarships and bursaries does not need to be repaid. The following web sites provide information on student awards, scholarships, bursaries, and grants.

Retraining

Government institutions such as HRSDC, WorkSafeBC or ICBC provide funding to eligible students. Contact the appropriate institution to inquire about eligibility.

StudentAid BC

StudentAid BC is for British Columbians who need help to pay for their post-secondary education through loans, grants, bursaries, scholarships and student loans. It also provides a service for borrowers who need help in repaying their loans.  

For further details, please visit their website: www.StudentAidBC.ca