5 Scholarships That Pay Big Bucks

Canada’s most prestigious scholarships have tough application standards. But, for students who have demonstrated exceptional leadership, community impact and academic brilliance, they can fund an entire university education and potentially lead to jobs. Here’s what a student needs to know about these big-money awards.

Schulich Leader Scholarship

Value: $100,000 to $120,000

Deadline: February

The Schulich Leader Scholarship recognizes high school students with academic excellence who demonstrate leadership, charisma and creativity. Winners need to plan to study science, technology, engineering or math at one of 20 Canadian universities that have partnered with the Schulich Foundation. 

To win this award, a student first needs to be nominated by their high school or CEGEP. Once nominated, the student completes an application, which includes an essay outlining why the student thinks they should win as well as a written submission of their achievements, where they see themselves in 10 years, and an optional essay to outline extenuating circumstances. Universities then review the nominees’ applications to select scholarship recipients.

It may seem like a lot, but the rewards to be gained are well worth the effort. There are 50 $120,000 awards available for students going into engineering, and another 50 $100,000 available for those venturing into science or math-based programs.

Loran Award

Value: $100,000

Deadline: October

The Loran Scholars Foundation is a national charitable organization that hands out 36 $100,000 awards every year (distributed over four years) to students who make it through their gruelling selection process. 

To apply, high school and CEGEP students in their final year respond (in short essay format) to a series of questions on topics such as their community involvement and leadership roles. Shortlisted candidates are then asked to submit supplemental videos, and those who pass that stage undergo online interviews. The final stage involves two days of panel and one-on-one interviews in Toronto. Students who make it to the national finals but are not chosen for the $100,000 award still get $6,000 for their efforts. Up to another 70 semi-finalists who did not make it to nationals receive provincial and territorial awards of $2,000.  

Aside from the money, the 36 winners of the main prize get access to mentors for four years, and three 12-week summer work opportunities.

While marks are part of the equation—students need an 85 per cent average to apply—panelists are really looking for students who stand out for their leadership experience, community service hours and  long-term goals.

TD Scholarship for Community Leadership

Value: up to $70,000

Deadline: November

Every year, TD awards up to $70,000 to 20 students across Canada for their community leadership efforts ($7,500 for living expenses and $10,000 in tuition fees each year over a four-year period.) Winners also get the opportunity to work at TD during summer break throughout university, as well as peer networking and mentorship opportunities. 

To be eligible, students must be in their last year of high school with a minimum overall average of 75 per cent, or in CEGEP with a minimum R score of 26, in their most recently completed year. Past recipients have showcased their leadership qualities by contributing in different ways to their communities, from establishing mental health clubs at school to starting non-profits. Students must show why they are worthy of the scholarship by submitting a 600-word essay, a transcript, a letter of recommendation from their school and two reference letters.

The Chris Huskilson Emera Scholarship

Value: $40,000

Deadline: April

This award from energy company Emera grants $40,000 over four years to a student from Atlantic Canada who has an average of 80 per cent or above and who plans to study science, technology, engineering, entrepreneurship or math at a university in Atlantic Canada. The scholarship winner is also entitled to a 12-week paid internship under the guidance of a senior mentor from one of seven of Emera’s affiliated companies. 

To apply, students must outline their career goals in a 500-word essay, and describe how the scholarship would help them achieve those goals. They should also discuss their involvement in the community and how they have overcome adversity. Applicants need to provide a transcript of their marks from Grade 10 to Grade 12, up to three reference letters (at least one from a teacher, guidance counsellor, vice-principal or principal), their resume, and a budget outline for the first year of university. Finalists will be interviewed by the man behind the award—
former Emera president and chief executive officer Chris Huskilson.

Terry Fox Humanitarian Award

Value: $28,000

Deadline: December 

This award in honour of Terry Fox grants $28,000 over the course of four years to between 15 and 20 students to cover tuition. Students don’t need to be studying in a program related to humanitarian activities, but should have experience volunteering and emulate traits like courage and compassion in academics, sports, fitness, community service, and other aspects of their everyday lives. To apply, students need to submit a personal essay, transcripts of the past two years and application forms filled out by three references.