Funding

Overview
Financing exists to make significant purchases within our reach. Imagine what life would be like if you had to pay cash up front for your home, your car, or in this case -- your education. We understand the pressures students face and will do whatever we can to assist you in finding the best way to invest in your future. Remember this is an investment in your future. A DevStudios education will lead to a better job and higher income, not to mention the satisfaction of working in the field you want to work in.

As DevStudios is a licensed Alberta Education School, students will receive their T2202A form, meaning the tuition is tax deducible.  There are a wide variety of funding options available to students which are described below.  For more information contact the Cashier’s office

Funding Options
• Government Student Loans & Grants
• Skills Investment Program (SIP)
• Student Line of Credit
• Lifelong Learning Plan (LLP)
• Interest Free Payment Plans

Government Student Loans & Grants
The maximum amount offered in Government Student Loans is $13,000. First time and repeat borrowers may be eligible for this yearly ceiling amount. The difference between first time and repeat borrowers relates to the portion of the $13,000 that can be realized in the form of grant. For more information check out the Government of Alberta Site

Skills Investment Program (SIP)
Alberta Human Resources and Employment has reorganized previous funding options for students into a program called Alberta Works. Alberta Works will harmonize the benefits provided through programs which were previously available to students. The Skills Investment Program (SIP) is now available for people who are unemployed, financially disadvantaged and need training to find sustainable employment.

Student Line of Credit
DevStudios has relationships with financial institutions which offer Student Lines of Credit to our students. Depending on the institution you can borrow between $7,500 and $10,000 to invest in your education here at DevStudios. Students are only required to pay the interest costs of the amount they borrow and, depending on the financial institution, you have 6 to 12 months after graduating to begin paying down the principle. The amount you pay per month depends on the total amount borrowed and the term you choose to pay down your line of credit.

Lifelong Learning Plan (LLP)
The Federal Government’s Lifelong Learning Plan (LLP) allows you to withdraw up to $10,000 each year for qualified educational expenses. The maximum lifelong withdrawal allowed is $20,000. You are not required to include the withdrawn amount in your income, and tax is not withheld on the amount you withdraw. The total amount withdrawn must be repaid to your RSP over a period of no more than 10 years. Any amount not paid in that timeframe is included as income for the year it was due. As well, you are not required to pay any interest on the amount withdraw.

Payment Plans
DevStudios is pleased to offer its students an interest free payment plan.   The amount of each payment and the number of payments are decided with the student and a representative from the Cashier’s Office.   The typical guideline is that all payments must be received before the student graduates from DevStudios.  These payments can be made by credit card, cash, or cheques.

Employment
DevStudios is proud of its students and the work they find.   We are focused on ensuring that the students accepted into our programs will be able to find work after graduation.