Financial Aid

Financial Aid for Canadian students only

Easy Payment Plans

Toronto Academy of Acting offers Interest free payment plans for our accepted students.

Student Lines of Credit

A student line of credit is a great option for Canadian students with a valid co-signer. A line of credit is different from a loan because you take money out only as you need it and pay interest only on what you withdraw while you are in school.

Royal Bank of Canada

  1. Your credit limit will be based on your need and ability to repay.
  2. A co-signer may be required.
  3. The minimum amount for the Royal Bank Student Line of Credit is $5,000.

Useful Royal Bank Link:

http://www.rbcroyalbank.com/RBC:RL6kBI71A8UAAVCiXlE/student/sc_bankloans.html

Bank of Montreal

  1. Your credit limit will be based on your need and ability to repay A co signer may be required.
  2. The minimum amount for Bank of |Montreal Student Line of Credit is $15,000.00.

Useful Bank of Montreal link:

https://www.bmo.com/main/personal/loans-line-of-credit/student-line-of-credit#

Financial aid options for Canadian citizens or permanent residents

Canada Registered Education Savings Plan (RESP)

An RESP is a, tax-deferred, savings vehicle generally used by parents to save for their children’s post-secondary education.

Contributions to an RESP for a child beneficiary may be eligible for Canada Education Savings Grant payments (CESG). Investment earnings on contributions and CESG payments can grow tax-free until they are distributed and included in the recipient’s income, and taxed accordingly. In most cases, the recipient is a student whose total income results in a minimal amount of tax.

For more information please click on this link

https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/rc4092/registered-education-savings-plans-resps-2016.html#P7_42