Leadership scholarships - open January 5 - February 5
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
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
Find Your Financial Balance
Tips to manage your debt
Higher costs and interest rates mean that you may need to adjust your budget to find the right balance between daily spending and paying down debt.
Managing your finances means finding the right balance. Inflation and higher interest rates signal that you may need to adjust your budget to find the right balance between daily spending and paying down debt. The right balance will depend on your financial situation and goals.
This Financial Literacy Month, learn about good versus bad debt and how to manage your money in a changing world.
How to manage your money when interest rates rise
A rise in interest rates can cost you more to borrow money. Plan to pay down your debt as much as possible, starting with the highest interest rate first so you pay less money towards interest.
Learn how interest rates work and what to do when they increase
Make a plan to pay off your debt
Decide on a strategy for paying off your debt based on the types of debt and the amount of debt you owe. Taking steps to manage your debt can help you take control of your finances and increase your financial resilience.
Get tips on paying down your debt
What to consider before borrowing money
Responsible borrowing can help you build a good credit history. However, using credit to spend beyond your means could put you at risk of no longer being able to manage your debt.
Ask yourself these questions before borrowing money or using credit
Know your rights when borrowing money
The interest rate for your loan is included in your loan agreement. Find out what your financial institution must tell you about interest rates when you borrow.
Don’t fall for the latest online shopping scam
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By : The Competition Bureau Canada Canadians are relying on online shopping more than ever. However, this puts us at greater risk of being targeted by fraudsters. Even if you’ve shopped online for years, it’s important to stay up to date on the latest tricks as scammers’ techniques evolve. In recent years, they’ve gone from asking for wire transfers, banking details, and searching out your credit card number to going after gift cards, cryptocurrency and access to your online bank accounts. Here are some key tips to protect yourself when shopping online:
If you think you’ve been a victim of fraud, contacted by a scammer or misled by an online ad or marketing tactic, report it to the Competition Bureau or the Canadian Anti-Fraud Centre. Resources |
Alberta Scholarships update
Alberta Scholarships and AwardsThe 2022-23 scholarship and award applications are available! Learn more about scholarships and awards offered by the Alberta Government and apply now at Alberta Scholarships. The following scholarships and awards will close on October 31:
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Alex Decoteau Award of HonourThe Alex Decoteau Award of Honour recognizes the sacrifice of Canada's brave veterans and their families and supports them in their post-secondary pursuits in Alberta. Valued at $5,000, this award helps meet the Alberta Government’s commitment to make it easier for Canadian veterans and their families to transition from service to the next steps in their careers. An individual may receive a lifetime maximum of two awards. Canadian Armed Forces members must be returning soldiers who:
Applicants who are family members of a Canadian Armed Forces Member must be spouses/common-law partners, or children of a Canadian Armed Forces soldier who:
How to Apply Submit the completed application form and all supporting documentation to Alberta Student Aid by October 31, 2022. For more information on eligibility and how to apply for the Alex Decoteau Award of Honour, visit: |
For other information regarding Ambrose Awards, please contact:
Roxanne Poelstra
Financial Aid & Awards Coordinator
financialaid@ambrose.edu
(403) 410-2938
Jason Lang Scholarship
The scholarship recognizes and rewards Alberta post-secondary students for their academic achievements and encourages them to continue in their undergraduate or professional program of study.
Value
$1,000
Deadline
September 30, 2022
Eligibility Criteria
To be eligible an applicant must:
- Be a Canadian Citizen, Permanent Resident, or Protected Person (visa students are not eligible),
- Be an Alberta resident and to be considered an Alberta resident one of the following conditions must apply:
- one parent, or legal guardian has maintained permanent residence in Canada for at least 12 consecutive months immediately prior to commencing post-secondary studies and be residing in Alberta, or
- Alberta is the last place the student has lived for 12 consecutive months immediately prior to commencing post-secondary studies, or
- the student’s spouse/partner has maintained permanent residence in Alberta for 12 consecutive months prior to the person attending post-secondary.
- Be enrolled full-time in the second or subsequent year of an undergraduate program at a publicly funded post-secondary institution in Alberta,
- Have achieved a minimum Grade Point Average of 3.2 on a 4.0 point scale based on an 80% full course load in the previous fall and winter terms.
Note: A term is defined as a study period of up to 17 weeks in length. Co-op work terms, internships or exchange programs may be eligible as long as these programs are a mandatory component of the undergraduate or professional program.
Students are not eligible for a Jason Lang Scholarship if they:
- Are enrolled in a one year certificate program,
- Do not return to a publicly funded post-secondary institution in the fall or winter terms of the next academic year,
- Are recipients of a Louise McKinney Scholarship for the same period of study, or
- Have received the lifetime maximum of three Jason Lang Scholarships.
Nominees must be enrolled at eligible Alberta public post-secondary schools (includes publicly-funded colleges, technical institutes, universities and private colleges accredited to grant degrees).
I prefer tea
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I virtually attended a national financial aid workshop and I loved every session because of the many learnings that are available. Kerry K. Taylor did a session: GET A Fresh Start WITH YOUR MONEY (Taylor, Kerry K., 2022). I really loved her BUDGET WITH BUCKETS tip. Ya, I know. Budgets. But stick with us because this is different whereby a little bit of behavioural science is used to switch up the budget game.
Rethink. When it comes to budgeting, we all have different needs, priorities, and preferences. Some of us prefer tea, everyone else is weird. But regardless of your caffeine status, you're more likely to have better financial wellbeing if you take the time to create a budget that reflects your lifestyle.
Know where your money goes
The first step to budgeting is knowing exactly where your money goes. Start by tracking your money for about three months, and make a note of everything you earn and spend. My bank app now has different pictures for my eating out, groceries, transfers, shopping, investing, payroll deposits, etc. Once you have a good idea of your regular income and costs, you can build a budget to suit your needs.
Start Piecing Your Income
‘Piecing’ involves splitting your income into accounts (or pieces), with a specific budget for each. It’s a helpful way to manage your spending and saving.
Here is my big-picture pieces (with percentages) that reflect how we generally think about saving and spending. The Pie Plan Pieces is less about the small details and more about the big picture.
A simple approach is the 50:15:15:10:10 method:
- Plan 50% of your income for essential living expenses (shelter, groceries, bills).
- Plan 15% of your income for lifestyle costs.
- Plan 10% of charity and or a tithe.
- Dedicate 15% of your income to save for the future or pay off the past. You may need to increase this category if you're aiming to reduce more debt or increase your savings.
- Expect the unexpected with 10% dedicated to missed or forgotten expenses. What's the unexpected? The Unexpected piece is a life preserver for day-to-day budgeting. It's common to be overly optimistic about reducing expenses or earning more money, and this over-optimism can easily blow up your plan. It's also easy to forget a once-a-year expense, so use this category to keep your budget in balance.
How you slice your dollars into pieces is up to you – we're all different so plan your pie to meet YOUR needs. If it's not working today, go ahead and adjust it for tomorrow.
Setup your accounts
Once you know how much to slice into each piece, divide your income accordingly each time you are paid, and automate it to an account. This is a great way to keep you on track with your spending so you only spend what you’ve dedicated for each specific purpose.
The Pie Plan Pieces is most cost effective if your bank allows you to make several fee-free sub-accounts under your main bank account. Being able to transfer money back and forth without a fee is also key. Many online banks and credit unions offer sub-accounts for dividing your money into categories.
It's easier to stick to a plan and not overspend because you can see how much money you have in each sub-account. And ya, be flexible.
What we've done is create a system and an environment to help you budget WITHOUT needing to rethink every step, every time you spend or save money. Plus, automating your budget reduces the need to keep making decisions (which can be exhausting) AND puts good new habits into play. This Pie Plan Pieces uses the science behind mental accounting to link your budgeting categories to dedicated bank accounts.
Good job! You read it, now determine your Pie Plan Pieces. Enjoy your tea, bubble tea, or whatever.
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Spring school financing? Use Continuing Student Scholarships
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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.
Please contact financialaid@ambrose.edu to implement.
Also remember to apply for Financial Aid by June 1. Application is available online on Financial Aid homepage.
Graduating?
Congrats! Here are my top 4 tips
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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.
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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.
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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.
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Do you want Money coaching? Financial Aid & Awards Office offers that and is open during the summer too. Set an appointment.
Financial Aid @ Ambrose Uni
Financial Assistance - $500 and up
One application form for multiple bursaries. Students will be
matched to a bursary or financial assistance if they
demonstrate financial need.
Apply online by June 1
Email notifications sent out by early July
Questions? Contact Roxanne Poelstra
Ambrose Awards
Continuing Student Scholarships
- $500 and up
One application form for multiple Ambrose endowed and
annual awards for students returning to study at
Ambrose in the fall. Recipients will be notified early May.
Apply online by February 28: Undergrads or Seminary
Financial Assistance - $500 and up
One application form for multiple bursaries. Students will be
matched to a bursary or financial assistance if they
demonstrate financial need.
Apply online by June 1
Questions? Contact Roxanne Poelstra