I found this article that I found interesting. I hope you like it too:

As young Canadians head off to college or university, many benefit from Registered Education Savings Plans (RESPs), which offer a 20% government match on contributions up to a limit. This is part of a broader effort by the government to encourage saving for major life goals—education, retirement, and home ownership.

💸 The Challenge of Saving Across Multiple Accounts
Financial advisers recommend maximizing contributions to all registered plans—RESP, RRSP, TFSA, and FHSA—but rising unemployment, cost of living, and economic uncertainty make that difficult. In 2023:

• 11.3 million Canadians contributed to either an RRSP or TFSA.
• Only 2.5 million contributed to both.
• 484,000 contributed to the newly launched First Home Savings Account (FHSA).

🧭 How to Prioritize Your Savings
Experts suggest starting with a TFSA:

• It’s the most liquid and flexible, ideal for emergency funds.
• Contributions can be invested in stocks, ETFs, and bonds.
• Contribution room starts at age 18; the 2023 limit was $7,000.

If you're planning to buy a home:

• Consider the FHSA, which offers tax-deductible contributions up to $8,000/year and $40,000 lifetime.
• Funds must be used for a home purchase—withdrawals for other needs incur penalties.
• Alternatively, up to $60,000 can be withdrawn from an RRSP for a first home, but must be repaid.

For education:

• RESP contributions are matched by the government until the end of the year the beneficiary turns 17.
• Timing contributions before that cutoff is crucial to maximize benefits.

🧠 Smart Strategies & Timing

• You can open accounts to start accumulating contribution room—even without immediate deposits.
• Consider contributing to RRSP or FHSA to trigger a tax refund, which can then be used to fund other goals.
• The earlier you start saving, the more you benefit from tax-deferred growth.

💬 As Sara Kinnear of IG Wealth Management puts it:

“When do you want to have this money available to you? Because that’s going to dictate realistically which type of registered account you want to use.”

For the original article, please see:  RRSP, TFSA, FHSA, RESP: The ABCs of how to divvy up savings across accounts

Please contact financialaid@ambrose.edu if you have any questions.

Alexander Rutherford Scholarship

Students can now log in to their Alberta Student Aid accounts to apply online for

the 2025-26 Alexander Rutherford High School Achievement Scholarship.

For more information on the Alexander Rutherford Scholarship, including eligibility and how to apply, visit:

• Alexander Rutherford Scholarship

Alberta Scholarships and Awards

The 2025-26 scholarship and award applications are now available!

Learn more about scholarships and awards offered by the Alberta Government and apply at Alberta Scholarships. 

Apply for Loans and Grants

Students can now access the following applications:

• 2025-26 full-time application
• 2025-26 part-time application

Complete the full-time post-secondary application for financial assistance:

• How to apply
• Loans and Grants Funding Guide
• Full-time Application Worksheet 2025-2026 

A resource called the Part-time Application Process helps students complete the part-time application for financial assistance. See the information on Section 5, which once authorized by a school official, must be returned to you to ensure your information is complete before you submit your application.

Please note, students are encouraged to upload all required documentation with your initial application to avoid processing delays.

2025-26 Program Updates 

The What's New section highlights updates to the Alberta Student Aid program, policies and systems effective August 1, 2025 to July 31, 2026. 

In addition, Alberta Student Aid has streamlined application processes and improved user experience for school administrators, staff and students: 

• A signature by an Accessibility Advisor is no longer required on the Schedule 4 form. Contact information from the school official is sufficient. Screen Reader Accessibility is also implemented on the Schedule 4 and Disability Verification forms improving accessibility for the blind and visually impaired.
• Newly revised submission categories and other enhancements to the Upload eDocuments feature improves application processing times. Clarity added for students on how to complete and upload fillable forms.

Please contact financialaid@ambrose.edu if you have any questions.

A renewed program is available to Continuing Student Scholarship recipients who are attending spring courses at Ambrose. Up to half of your award can be allocated toward spring course tuition and the other portion can be allocated toward fall tuition.

This initiative is to assist our continuing students with the cost of education. Please contact financialaid@ambrose.edu to implement.

Remember to apply for Financial Aid by June 1.

Information is available on Financial Aid homepage. Application is on your Student Account / Finance page. 

Congrats! Here are my top 4 tips

1. Do you have a Student Loan? Make sure you know what repayment looks like and set yourself up for a good credit score for years to come.

2. If you are continuing on to graduate school, check out their website for funding and connect with their financial aid & awards office. Knowledge First Financial Graduate Scholarship Awards is one you could check out.

3. Do you have a spending plan of action? You may be looking for work or already have something lined up. Be on top of your finances by setting a plan. Credit Counselling Society has a good budget calculator and I also recommend the Government of Canada budget planner.

4. Do you want Money coaching? Financial Aid & Awards Office offers that and is open during the summer too. Set an appointment.

Need $ for school? Awards next Fall for Undergrads and Seminary - apply today!

For full time students

Scholarships next Fall for Undergrads and Seminary - apply today!

For full time students

Financial Aid & Awards' Student Success Workshop for Undergraduates

Thursday, Jan. 23 

12 p.m. | A2133

Want to know more about scholarships and financial aid towards your tuition? Come attend the Financial Aid & Awards’ Student Success Workshop for Undergraduates taking place on January 23^rd at 12:00pm in room A2133.

Leadership scholarships are open from January 5 to February 5 - apply today!

Laurence Decore Award For Student Leadership Scholarship - $1,000

Be involved in either student government or student societies, clubs or organizations, or involved in student organizations at the provincial or national level or in non-profit community organizations

Apply Now

Dr. Gary McPherson Leadership Scholarship - $2,000

Have shown outstanding leadership, especially in the area of disability, and/or initiative to improve the lives of other people while attending Ambrose

Apply Now

The Indigenous Careers Award is designed to encourage Indigenous Albertans (First Nations, Metis and Inuit) to pursue and complete post-secondary studies in certificate, diploma, applied degree and bachelor's degree programs.

Award Value

$2,000 per semester / maximum of $4,000 in an academic year

Credential Types

Students must be enrolled in a certificate, diploma, applied or bachelor’s degree program.

All program bands are eligible for the Indigenous Careers Award.

To Receive This Award

• The Fall 2023 and/or Winter 2024 term (a term is defined as a study period of up to 17 weeks in length),
• At least 60% of a full course load (40% of a full course load if you are a student with a documented permanent disability). 
• Have satisfactory academic standing, as determined by the school.

You must also meet all of these eligibility criteria:

• Be a Status Indian/First Nations, Non-Status Indian/First Nations, Métis or Inuit and be able to provide a copy of proof of Indigenous ancestry
• Be a Canadian citizen, permanent resident of Canada or have protected person status under Canada’s Immigration and Refugee Protection Act
• Be a resident of Alberta.

Application Deadline

• Fall - November 5
• Winter - February 5

Indigenous Careers Award Application 

Please submit applications and/or inquiries to:

Roxanne Poelstra
Financial Aid & Awards Coordinator

financialaid@ambrose.edu
(403) 410-2938

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