One big question you may have when considering pursuing CPA certification is how you’re going to pay for it. As the CPA Professional Education Program and CPA preparatory courses are considered part-time and designed for post-secondary graduates and working professionals, they are not eligible for government student loans or grants.
But there are ways you can finance your CPA studies, including the following options:
Line of Credit
You can borrow money from a line of credit, pay it back and then borrow again, up to your credit limit.
Some financial institutions offer student lines of credit, which can have reasonable interest rates (often lower than government student loans) and repayment terms. Contact your financial institution to see if you are eligible for a student line of credit or for general details about getting a regular line of credit.
You can consider the following Canadian major banks:
- RBC (Royal Bank of Canada)
- CIBC (Canadian Imperial Bank of Commerce)
- BMO (Bank of Montreal)
- TD (Toronto Dominion)
- Scotiabank (Bank of Nova Scotia)
Additional tips on getting a student loan can be found here.
Canada Job Grant (different in every province)
Job grants are government programs where an employer applies on behalf of their employee(s) for eligible training costs. You must discuss your eligibility with your employer. For more details, please visit the grant websites of your province.
- Alberta Canada Alberta Job Grant
- British Columbia Employer Training Grant
- Canada-Manitoba Job Grant (Note, there are two intakes per year)
- Canada Saskatchewan Job Grant
CPA Scholarships and Bursaries
CPA education foundations in Western Canada offer scholarships and bursaries to CPA preparatory course students and CPA PEP candidates in their provinces. For details about opportunities where you live, including application information and deadlines, click below: