Tuition fees can be overwhelming. But the good news? Scholarships exist to help you pay for your education without racking up debt. If you think scholarships are only for straight-A students or top athletes, think again. There’s a scholarship out there for almost everyone – you just need to know where to look and how to apply.
So, how do you get a university scholarship? Ultimately, it’s about strategy, preparation, and persistence – and this guide will help you navigate the scholarship process like a pro.
What Is a Scholarship?
What is a scholarship? A scholarship is free money for your education. No strings attached and no repayments. It’s financial aid awarded to students based on merit, financial need, or other personal criteria.
Research shows that scholarship recipients are 30% more likely to graduate on time. Why? Because financial stress is a major barrier to completing a degree. Less stress equals more success – it’s that simple.
Different Types of Scholarships in Canada
There are various different types of scholarships in Canada, many of which you might not even know exist. Here are a few to look out for.
1. Merit-Based Scholarships
If you have a strong academic record, you could qualify for a merit-based scholarship. These go to high-achieving students who have maintained excellent grades. Take the International Business Unversity’s Entrance Scholarships for Academic Achievement, for example – if your high school grades are 80% or higher, you can receive between $1,000 and $3,000 per semester.
2. Need-Based Scholarships
Not all scholarships are about grades. Some focus on financial need. These scholarships help students from low-income backgrounds pursue higher education without the stress of tuition fees.
3. Diversity & Equity Scholarships
Many organizations aim to support students from underrepresented backgrounds, including:
- Scholarships for Indigenous students
- Scholarships for international students
How to Apply for Scholarships in Canada
Now that you know your options, the big question is: How can you apply for scholarships in a way that makes you stand out? Here’s your roadmap:
1. Start Your Search Early
The bigger the scholarship, the earlier the deadline. Start researching at least a year in advance to maximize your chances. Keep a spreadsheet of deadlines so nothing slips through the cracks.
2. Check University Entrance Scholarships
Some scholarships are automatic, meaning the university awards them based on your admissions application. At IBU in Toronto, students with an 80% high school average or higher automatically qualify for entrance scholarships.
3. Gather Required Documents
Every scholarship has different requirements, but here are the most common documents you’ll need:
- Transcripts – Your academic records.
- Essays – A chance to tell your story (more on this below).
- Recommendation Letters – Strong references are key.
- Proof of Financial Need – If applying for need-based scholarships.
4. Apply for Multiple Scholarships
Is one scholarship enough? The more applications you submit, the better your chances. Even small scholarships add up to pay for textbooks, housing, or living expenses.
Tips for Scholarship Applications
Scholarships are competitive. Here are some proven ways to boost your chances:
1. Choose Recommenders Who Actually Know You
Generic reference letters won’t cut it. Ask teachers, mentors, or bosses who can speak to your character, academic strengths, or work ethic.
Proofread Carefully
One typo can send your application to the reject pile. Have a teacher, mentor, or family member review your essays and applications before hitting “submit.”
3. Show Leadership, Not Just Good Grades
Scholarship committees love students who lead. If you’ve started a club, volunteered, mentored someone, or worked a job – highlight it!
4. Apply Even If You Think You Won’t Win
You don’t need a perfect GPA to get a scholarship. Many awards go unclaimed because people assume they won’t qualify. Apply anyway – you might be surprised!
Scholarships & Financial Aid at IBU
IBU believes financial barriers shouldn’t stand in the way of higher education. That’s why we offer several types of entrance scholarships to help students like you succeed.
1. Entrance Scholarships for Academic Achievement
If you’re a high school student with strong grades, you automatically qualify for funding based on your academic performance.
Scholarship amounts per semester:
- $3,000 for a 95%+ admission average
- $1,500 for a 90-94.9% admission average
- $1,000 for an 80-89.9% admission average
And here’s the best part: You can continue receiving these scholarships if you maintain a 4.0 GPA every semester for up to 8 semesters. That’s a potential total of $24,000 toward your degree!
Explore our BCOM programs, visit our Admissions Page, or contact us today for details regarding scholarships.