As the cost of attending college continues to outpace inflation and a significantly growing number of college graduates experience a burdensome amount of student loan debt, there have been significant increases in youth enrolling in vocational training programs to pursue trades rather than a college degree. Vocational training programs are significantly less expensive than college degrees, require significantly less time to complete, and offer a strong return on investment. However, financial barriers persist with costs to attend these schools varying widely from $2000 to $18,000 per year.
For young Canadians looking to enter a career in trades, there are various financial opportunities offered by many entities that support students entering trades. Here are various ways to find those opportunities and potentially graduate debt-free from trade programs.
1. Employment and Social Development Canada (Government of Canada)
The Employment and Social Development Canada (ESDC) website offers valuable resources for apprentices, employers, unions, and other organizations involved in apprenticeship programs. This page connects apprentices to interest-free loans and grants, available for students completing their first or second year of trade training or those who have finished their training and obtained certification.
Yconic’s Student Awards section is a treasure trove of scholarships, grants, and bursaries. By signing up for their mailing list, students receive daily updates on financial opportunities tailored to their trade education. Funding opportunities can be filtered by province or territory, academic program, scholarship value, deadline, and application difficulty. Additional filters include the level of study, demographics, and type of funding, making it easy to find the right financial support.
3. ScholarTree
ScholarTree is a scholarship platform that students in vocational training programs can utilize. Scholarships and grants can be filtered by academic program, financial need, volunteer experience, ethnicity, gender, sports, disability, religion, and year of study. By providing personal information about one’s educational background and other characteristics, students can receive personalized scholarship matches. ScholarTree also highlights scholarships with the greatest financial support and those opening soon, helping students plan ahead.
ScholarshipsCanada offers a comprehensive database of scholarships, bursaries, and grants for vocational training and post-secondary programs. Students can create a profile to receive personalized recommendations based on their area of study and qualifications. The platform allows filtering by field of study, school, scholarship name, heritage, degree type, year of study, academic average, gender, and personal circumstances, ensuring that every student can find suitable financial aid.
5. Canada’s Building Trade Unions
Canada’s Building Trades Unions (CBTU) represents 14 international trades unions and provides a page dedicated to financial support for trade students. This resource outlines various funding opportunities, including tax credits that students can claim to reduce their tax owed and increase their refund. The page also lists provincial trade financing opportunities, ensuring that students pursuing trades can find province/territory-specific support depending on their location in Canada.
Pursuing a career in trades is a promising path for those seeking hands-on training and an alternative to the traditional four-year college degree. While financial costs can be a barrier, numerous platforms and institutions offer valuable resources to help students secure the funding they need. By overcoming financial barriers, trades students can complete their vocational training and enter careers that are in high demand, benefiting both themselves and the Canadian economy. Embrace the opportunities, explore these resources, and take the first step towards a rewarding career in trades!
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