Let's face it - money is a central factor to consider when making big life decisions. It’s important to be informed about available funding options when planning your next move towards a new career.
While some students at Bitmaker General Assembly choose to cover tuition by applying for a loan with their bank or through our partnership with third-party finance company, FinanceIT, these two options may not suit your personal circumstances. So what other options are available?
Below is a quick round-up of a few alternative financing options based on unique situations you may find yourself in that can impact your financing eligibility.
New to Canada
Upon moving to Canada, it can be challenging to land a job in your professional field. If you're in need of updated licensing or training, the Immigrant Access Fund (IAF) of Canada may be able to assist you in providing the required funding. IAF began as a community effort to address newcomers’ barriers to employment and aims to reduce the financial obstacles of re-qualifying programs.
IAF offers loans of up to $10,000 to internationally trained immigrants. To be eligible, one must:
- Be considered an immigrant, a permanent resident, provincial nominee, refugee/protected person, or Canadian citizen
- Reside in a province or territory other than Quebec
- Intend to work in the same field as you were prior to living in Canada
- Lack access to financial resources for licensing and training
- Not have an undischarged bankruptcy
If you’ve recently been laid off and are interested in exploring a career in the tech industry, you may be a great candidate for provincial education funding via the Second Career program.
Second Career provides up to $28,000 to help cover education-related costs. You qualify when:
- You have been laid off and have not been working
- You have been laid off and are working a temporary job just to cover costs
Toronto's current job market has a high demand for coding and UX design skills, which has resulted in an encouraging increase of employment prospects throughout the city. Perhaps launching a new career in tech may be the right move for you.
To apply for Second Career, check out your nearest Career Centre. You’ll be assigned a caseworker who can guide you through the application process.
Attending by way of your workplace
Does your current workplace have a professional development budget? If so, you may be eligible for employer sponsorship to cover the costs of a course at Bitmaker GA.
Professional development initiatives are a great way for your employer to invest in your future. Given the ever-evolving face of technology and the projected 5-year shelf life of technical skills, it's critical for employers to prepare their workers to adapt to the shifting demands of work in the digital age. Speak with your employer about your career goals and how obtaining a new technical skill will help you achieve your fullest potential.
Ready to make moves? Contact our admissions team with any questions you may have about our financing options by email at email@example.com.
For more detailed information regarding all financing options available at Bitmaker GA (i.e. student line of credit, FinanceIT, payment plans, employer pay etc.) please consult our Student Financing Handbook.