IBU Financial Aid Program - Winter 2022 Semester
At IBU, we work hard to make your education affordable and flexible. Our International Business Management and Technology program will make you the most marketable and prepared future employee that you can be. We believe in the education we provide to our students. That is why we offer a very competitive and affordable financial aid program in Ontario to support you during your journey with IBU.
If you are eligible and approved, IBU will defer up to one-hundred percent (100%) of your program tuition and book fees until after you graduate and get a job. In order to continue receiving the IBU financial assistance, you must meet the academic progress requirements during the program. Funds from scholarships and bursaries are applied directly to tuition and other student fees owing.
IBU Financial Aid Program Highlights:
- For a limited number of eligible domestic applicants, up to 100% of their tuition and book payments will be deferred until they are employed after graduating.
- IBU Financial Aid is absolutely interest-free. The student will only pay back the total tuition and book costs incurred during the study. There will be no interest charged to the financial aid package.
- The student will have a chance to have 25% of the total financial aid waived if they graduate with an average CGPA of 4.0 and up.
- You only pay monthly when your income is greater than the income threshold as determined by the university.
In order to check if you qualify and for any other questions, contact our Enrolment Office today.
Eligibility
- To be eligible for the IBU Financial Aid Program the applicant must be a Canadian citizen or permanent resident and take a minimum of 9 credit hours per semester from in-class and/or the IBU Online PLUS program.
- A co-signer is required. If you drop out of the program before you graduate, you have to pay back the outstanding dues within six months.
Required Documentation
- Address Proof (for last 5 years of residence)
- Income Proof for both the applicant and the co-signer
- Copy of passport or PR Card
Entrance Scholarships
IBU is pleased to welcome new students and offers two types of entrance scholarships.
Entrance Scholarships for Academic Achievement
IBU would like to reward your hard work in secondary school!
You will automatically be considered for a merit-based entrance scholarship if:
- you are a Canadian citizen or hold permanent resident status.
- you are currently a full-time secondary school student (with continuous full-time secondary school attendance for the past 4 years)
or
you completed your full-time secondary school studies no more than one academic year prior to your semester of admission (with continuous full-time secondary school attendance for 4 years) - you are beginning post-secondary studies for the first time.
- you will be registered full-time* in your IBU degree program.
Entrance scholarships are granted for each of your first two IBU semesters and are awarded based on the average of your top six Ontario Grade 12 U or M final full credit course grades, including the specific required courses for your program (or equivalent Grade 12 final credit course grades from secondary schools outside of Ontario). **
* Full-time status at IBU required for entrance scholarships is defined as a minimum 80% course load (12 credit hours). Entrance scholarships will be canceled if you drop courses and reduce your course load to below 12 credit hours at any time for that semester.
** The determination of the credits to be used in the calculation of your Grade 12 average lies solely at the discretion of IBU; as well, changes to final secondary school grades received after August 1 will not result in a recalculation of the average.
General Entrance Scholarships
You will automatically be granted an entrance scholarship of $750 for each of the 2021 fall and 2022 winter semesters if:
- you did not receive a merit-based entrance scholarship.
- you are a Canadian citizen or hold permanent resident status.
- you will be registered full-time* in your IBU degree program.
* Full-time status at IBU required for entrance scholarships is defined as a minimum 80% course load (12 credit hours). Entrance scholarships will be canceled if you drop courses and reduce your course load to below 12 credit hours at any time during the semester.
Currently, IBU students are not eligible to receive funding through the Ontario Student Assistance Program (OSAP). However, there are several other options that can be explored.
These include:
Bank Loans:
Most financial institutions offer a line of credit loans to students at favorable rates. Speak to a representative at your bank or credit union to discuss their terms and then research the terms at one or two other financial institutions before making your decision.
Education Savings Plans:
You and/or your family may have been putting aside funds for your education through an education savings plan. Once you have been admitted and registered for your courses, contact your plan to find out what you need to do to have your funds released.
Sponsorships:
Some students are supported by third-party organizations, by their Indigenous bands, or by foreign governments. These organizations can transfer the funds directly to IBU. If sponsored students are not able to pay their fees by the deadline, or their sponsor will pay directly to IBU, they must submit their sponsorship letter or confirmation to the Enrolment Services office.
Crown Wards:
If you are or were a crown ward and spent at least one full year in foster care, you may be eligible for a full waiver of your tuition and ancillary fees. Contact the Enrolment Services office for details.
HigherEdPoints:
You (and your friends and family!) can convert Aeroplan, American Express, CIBC or TD points, or a HigherEdPoints gift certificate, into funds applied directly to your tuition fees. For details, see HigherEdPoints.com.
Entrance Scholarships:
If you have received an entrance scholarship it will be applied directly to your account.
Other Scholarships:
There are many organizations that offer scholarships to students, some with specific and unique criteria. Review the scholarship opportunities and applications listed on ScholarshipsCanada.com, some of which may fit your situation. Submit as many applications as you can. Another site to explore is yconic.com.
Payment Plan:
If you are experiencing difficulties meeting the payment deadline and can demonstrate the ability to make regular payments, please go to Enrolment Services to discuss a payment plan option (not to exceed one semester).