Financial Aid
RAC is a registered private college with both the Ministry of Training, Colleges and Universities in Ontario and the MELS in Québec. Financial aid may be available to those who qualify. Students at our colleges can apply for various forms of financial assistance, including Canada Student Loans, Provincial Student Loans, Québec Loans & Grants, CSST, Employment Insurance, Student Bank Loans and Human Resources Canada, among others.
Education fees are tax deductible.
There are several options that may be available to students of RAC to assist with the financing of their educational costs. These options may include:
- Government Financial Aid Programs,
- Student bank loans and student lines of credit, and
- Human Resources Canada retraining programs.
- Second Career (Ontario)
RAC counselors are available to provide you with assistance and guidance, and to ensure that the available options are thoroughly explored and that the required resources are in place prior to the start of your first class.
Government Financial Aid Programs
Canadian students attending RAC may apply for the government Loans & Grants programs offered by the federal government and by each province. Eligibility regulations vary from province to province.
For more information and/or help preparing your Loans & Grants application, please call our Admissions Office:
Toronto: (416) 977-5074
Montréal: (514) 286-4336
Canada Student Loans
1-866-587-7452
Provincial Student Loan Programs
Ontario
OSAP
1-900-565-6727
Québec
Québec Loans & Grants
(514) 864-4505 in Montréal
(418) 646-4505 in Québec City
1-888-345-4505 elsewhere in Québec
British Columbia
StudentAid BC
1-877-535-7680
Saskatchewan
Student Loans
1-800-597-8278
Nova Scotia
Student Assistance
1-800-565-8420 or
1-902-424-8420 (outside Nova Scotia)
Newfoundland & Labrador
Student Aid
1-888-657-0800
Manitoba
Manitoba Student Aid
1-800-204-1685 or
(204) 945-2313 (outside Manitoba)
Alberta
Students Finance
1-800-222-6485
Prince Edward Island
Education and Early Childhood Development
(902) 368-4640
New Brunswick
Student Financial Services
1-800-667-5626
Northwest Territories
NWT Student Financial Assistance
1-867-873-7190 or
1-800-661-0793
Nunavut
FANS - Nunavut Student Loans
1-867-873-7190 or
1-800-661-0793
Yukon
Canada Student Loans Program
1-867-667-5929 or
1-800-661-0408 ext. 5929
Bank Loans and Student Lines of Credit
In addition to applying for government loans and grants, we recommend that all RAC applicants also explore the various student loans and student lines of credit options available at most major Canadian Financial Institutions.
For your convenience, the names and contact information of most major Canadian Financial Institutions have been listed below:
Royal Bank of Canada
1-800-769-2599
Bank of Montreal
1-800-665-9665
CIBC (Student Lines of Credit)
1-800-465-CIBC (2422)
TD Canada Trust
General Inquiries
English: 1-866-567-8888
French: 1-866-233-2323
Cantonese/Mandarin: 1-800-328-3698
International (English)
IAC-800-567-8888-1
International (French)
IAC-800-233-2323-1
Scotiabank
1-800-9-SCOTIA (1-800-972-6842) (Direct line to Student Centre)
1-800-645-0288 (TTY - Canada/USA)
National Bank of Canada
1-888-4-TelNat
Laurentian Bank
1-800-LBC-1846
Alternative Funding Options
Other alternative funding programs may be available to certain applicants. Some of the common alternative funding options you may explore have been listed below:
For those applicants seeking to re-enter a training program:
Human Resources Development Canada (HRDC)
The Learning and Literacy Directorate
P.O. Box 2090, Station "D"
Ottawa, Ontario K1P 6C6
Tel. (819) 994-1844
Toll Free 1-888-432-7377
Canada Millennium Scholarship Foundation
The Canada Millennium Scholarship Foundation is a private and autonomous organization established by an Act of Parliament in 1998 with an endowment of $2.5 billion to help Canadians meet the challenges of a rapidly changing economy and society by creating opportunities for them to pursue their post-secondary education.
The Queen Elizabeth II Aiming for the Top Scholarship
The Queen Elizabeth II Aiming for the Top Scholarship is designed to recognize students who have shown academic excellence at the high school level and to assist students with financial needs. Students who have achieved the best marks at Ontario high schools will be recognized and celebrated through this scholarship.
This is part of the government's commitment to help every willing and motivated student receive a postsecondary education.
The value of the scholarship varies between $100 and $3,500 per academic year. Eligibility is based on academic merit, and the value of the scholarship that students' receive depends on the amount of the students' tuition and the students' financial need as determined by the ministry.
To be considered for this scholarship, students must fill out a OSAP application form. Students' are not required to fill out a separate form because the information supplied on the OSAP application is used to determine the students' eligibility.
Please note that in order to be considered for this scholarship, OSAP applications must be submitted to the Ministry prior to June 1 st of each calendar year to be eligible for awards for our September and following March enrollments.