Grants and Loans for post-secondary education in Canada
Financial institutions and federal and provincial programs offer plenty of financing options for post-secondary education. The choice between different financing options depends on factors such as amount required to cover tuition, board, and other expenses, credit rating, whether the student applies with a co-applicant and others. A 4-year degree in Canada costs about $60,000 on average. Most students and parents are unable to cover the costs and many resort to student loans by banks and other establishments. College students borrow about $28,000 on average. To finance college expenses, many parents apply for a home equity loan whereby their home serves as collateral. While home equity loans offer competitive interest rates, the rate on student loans is tax-deductible. Moreover, parents put their retirement and home at risk in case of interest rate spikes. Student lines of credit are also offered by financial institutions such as the Canadian Imperial Bank of Commerce, Bank of Montreal, Royal Bank of Canada, and other establishments. This is an affordable option in that the rate is lower compared to other borrowing solutions available. In some cases, parents are required to co-sign together with students. Another option is to look into consumer loans. This is a less risky solution in that customers are not required to offer some asset as collateral. At the same time, the interest rate is often higher and most banks accept applicants with stellar and very good credit.
Government Loans and Programs
Federal and provincial assistance programs are also available as an alternative to private lenders. Students enrolled in approved programs and universities who meet provincial residency criteria qualify. Applications are available from financial aid offices at school. If you live in Newfoundland and Labrador, Saskatchewan, New Brunswick, or Ontario, however, you must apply through the Integrated Loan Program. Residents of Nova Scotia, British Columbia, Prince Edward Island, Manitoba, and Alberta apply for a provincial government and Canada Student loan. Borrowers from Yukon submit applications under the Canada Student Loans Program. Territorial and provincial assistance is offered to students from Nunavut and the Northwest Territories and applicants from Quebec. Financial assistance is available based on factors such as enrollment status, annual income, contributions by parents, and tuition expenses. There are handy online calculators that help students to calculate the amount required based on part-time and full-time status and course load. If you are a full-time student, for example, you are asked to select student category, i.e. single parent, single independent student, common law or married, etc. The next step is to fill in information such as province of residence, program type and duration, number of children, and province of study and pre-study period. Users also specify over-awards, whether they have permanent disabilities, and family size.
Grants, Bursaries, and Other Forms of Financial Aid
Government and private loans, and lines of credit are one option for students but the amount borrowed must be paid back. Another option is to apply for a grant or scholarship through your financial aid office or under provincial and federal programs. There are different types of financial assistance, including apprenticeship grants and grants for students with dependents. Apprenticeship incentive grants, for example, are offered to applicants who meet the requirements and are registered. They must be registered with an apprenticeship authority, joint training committee or union training center, training trust fund, or an employer. Only permanent residents, citizens, and protected persons qualify. Grant applicants are also asked to provide supporting documents such as copy of ID, proof of progression, and others.
Bursaries and scholarships are additional options for university and college students. Scholarships are offered by different institutes, forums, and foundations. The amount varies from $1000 to $40,000 and more. Some scholarships are available for certain fields of study only while others are offered across fields and disciplines. In general, students of different backgrounds and disciplines are welcome to apply and academic excellence is not always a requirement. Students belonging to ethnic minorities and those with different family affiliations and talents are also offered scholarships. Financial assistance is also available to students with leadership skills, high GPA, etc. Bursaries are often based on special skills and abilities, extra-curricular activities, athletic skills, or academic achievement and take financial need into account. Bursaries, grants, and scholarships are offered by associations, businesses, universities and colleges, and territorial and provincial governments. Co-operative education and internships are also available, and students get paid and gain valuable experience at the same time.
If you are unable to qualify for any grants or student loans while studying, you can try borrowing money on a low interest credit card. CIBC has some credit cards with interest rate in the 12-15% range, which will help you save money compared to a regular credit card charging 20%+ APR.
Resources:
https://www.creditcardsforbadcredit.ca/cibc-credit-cards/
https://www.creditcardsforbadcredit.ca/credit-cards-for-bad-credit-canada/
https://osap.gov.on.ca/OSAPPortal/en/A-ZListofAid/PRD003547.html
Salaries and Wages for Chemical Engineers in Canada
Chemical engineers in Canada hold different positions and are responsible for developing and designing equipment for chemical facilities. They are also tasked with monitoring the daily tasks, operations, and activities at food, pulp, pharmaceutical, plastics, and chemical plants.
Education
Employers usually require a Bachelor’s or Master’s degree in chemical engineering for positions such as refinery, pulp and paper, project, process control, industrial waste treatment, and biochemical engineers. Given the cost of education, many students resort to credit and car loans while still in college.
Responsibilities
Chemical engineers are generally responsible for monitoring different performance indicators, preparing training manuals, instructions, and work methods, and monitoring activities and implementing rules. They are also tasked with optimizing processes and 
identifying strategies for further progress. In addition, chemical engineers are usually responsible for developing and implementing appropriate tools, technologies, and methodology, including ergonomics, work methods, cycle optimization, and process diagnosis. College grads hold positions across industries and often work as polymer, petrochemical, industrial hygiene, and biotechnological engineers. They also work as liquid fuels, biotechnical, and adhesives engineers. Some professionals even hold positions at institutions of higher education and work as college teachers and university professors.
Salaries and Wages
Obviously, salaries vary from region to region and from one employer to another. Statistics show that the annual median salary in the sector is $65,136 CAD. The pay varies from about $44,000 to over $101,000 CAD, and there are profit sharing opportunities and bonuses. Salaries and income level vary based on work experience, skills, sector, and educational level. Entry level engineers with work experience of 0 to 5 years make no more than $60,000 CAD while engineers with work experience of 10 – 20 years earn about $85,000 CAD. Employees with over 20 years of experience often make close to $100,000. While salaries vary, the good news is that there are plenty of opportunities for chemical engineers, and small and large companies are looking forward to hiring new college grads.
Cities such as Vancouver, for example, offer tons of work opportunities and high starting salaries for design, industrial, chemical, and mechanical engineers. It is not only British Columbia that offers exciting opportunities. Employers operating in other provinces and territories also offer competitive salaries for similar positions. The cities with the highest median salary for chemical engineers include Toronto, Winnipeg, Regina, Edmonton, and Calgary.
Choosing а Career in the Chemistry Engineering Field
Chemical engineering builds on the life and physical sciences to experiment with different materials and produce new technologies. For chemical engineers, there are exciting opportunities in different spheres, including electronic device manufacturing, pharmaceuticals, biotechnology, and environmental engineering.
Career Opportunities
Engineers have expert knowledge in information technology, materials science, engineering, biochemistry, and chemistry. Employment opportunities abound across sectors and businesses which makes chemical engineering a high-paid profession. Graduates work as field engineers and in laboratories, occupy management positions, and find employment in manufacturing. Chemical engineers find employment across industries, including specialty chemicals, consumer goods, utilities and the environment, manufacturing and engineering, and even consultancy.
Choosing a Career in Chemical Engineering
The choice of career depends on your experience, expertise, and field of interest. Field service engineers, for example, are engaged in maintenance, programming, and troubleshooting and specialize in peripheral equipment. They are experienced in repairing and diagnosing process and robot operational problems and are skilled in analyzing pneumatic, mechanical, and electrical prints. Engineers also work in the chemical industry and develop new polymers with enhanced mechanical, optical, and electrical properties. Another option for graduates is a job in the biotechnology sector. They are tasked with designing production facilities and technologies that employ enzymes and microorganisms to develop new medications. Chemical engineers work to design facilities and processes such as effluent treatment facilities and catalytic converters. The goal is to minimize the negative impact of harmful chemicals on ecosystems and the environment in general.
There are other career options to explore, for example, many companies are looking to hire structural, project and process engineers. Project engineers interpret and analyze design documents for omissions interferences, and conflicts. They are responsible for monitoring field work contracts to make sure that paperwork meets relevant codes, specifications, procedures, and standards. Senior project managers, on the other hand, supervise and monitor work on construction sites and are tasked with project estimates and reports. If you like to work in the environmental sector, environmental biologist is one position to try. Businesses in this field work to provide regulatory compliance, architecture and landscape, planning, and environmental consulting services. They employ GIS specialists, landscape architects, water resources specialists, public meeting facilitators, and environmental specialists and biologists.
Many companies are also looking for engineers engaged in the operation, construction, development, and design of industrial facilities and processes. Industrial facilities are used to produce specialty chemicals and other commodities. Chemical engineers work in close cooperation with control engineers and process chemists so that the production process runs smoothly. They are tasked with equipment configuration and plant design and take economic, financial, and environmental factors into account.
More Options in the Field of Chemical Engineering
In general, chemical engineers work across sectors and industries, including toiletries, plastics, food and drink, water treatment, energy and renewable resources, gas and oils, and others. They also specialize in biomedical engineering, fuel cells, nanotechnology, and innovative materials and solutions. They are tasked with research and development (commercialization and trial), monitoring processes and activities at industrial-scale manufacturing facilities, and designing new technologies and plants. Engineers also work to modify and adjust processing equipment and monitor and implement scale-down and scale-up processes. Experts are also tasked with applying new technologies and solutions, optimizing production processes, and commissioning and installing developments and plants. They assess various options for reconfiguration and expansion and participate in the development of simulation and testing models. In addition to these responsibilities, chemical engineers monitor processes for potential hazards and safety issues at all levels. Experts are also involved in industrial processes and activities related to the development of pharmaceuticals intended for clinical trials. Others work at nuclear plants and design and implement processes for safe and efficient energy production. They are involved in operations support, construction and simulation, conceptual design, and other processes.