Payments

When you commit to investing time and money in your education, we know it can be challenging to plan and pay for that investment. VFS offers many different ways to help you structure your payments, including interest-free payment plans. Our Advisors can walk you and/or your family through all of your options for financial assistance and payment.

Fee Payment Schedule

  1. Application Fee

    You must include your C$100 Application Fee payment when submitting your application. If you do not already have an Advisor, one will be assigned upon application to help you through the rest of the process.

  2. Tuition Confirmation Deposit

    Once you receive an acceptance email, you will be asked to sign a Student Enrolment Confirmation Form and pay an initial tuition deposit to secure your seat in the program. This initial deposit indicates to us your commitment, and allows us to secure a seat for you at the current tuition rate for your program. The deposit amount is based on the cost of your specific program, your financial plan, and your method of payment.

  3. Balance of Tuition

    The balance of your tuition will be paid as per your agreed upon financial plan.

     

    *If you are planning to use Canadian student loans, pre-approval may be required.

    *Fees are quoted and payable in Canadian dollars and can be paid by wire transfer, online bill payment, credit card, cheque, bank draft, money order, or debit card (in person at VFS only).

If you've got any questions

Contact Us

Financial Aid

Student Lines of Credit

A student line of credit is a great options for Canadian students with a valid co-signer. A line of credit is different from a loan because you take money out only as you need it and pay interest only on what you withdraw while you are in school.

The Royal Bank of Canada, Hastings & Granville Branch, in Vancouver, BC, has created a line of credit package for VFS students.

  • Your credit limit will be based on your need and ability to repay.
  • A co-signer may be required.
  • The minimum amount for the Royal Bank Student Line of Credit is $5,000.

Useful Royal Bank Links:

For detailed information, contact

Roberto Milano, Account Manager at 604-678-2882

Seon Ji, Banking Advisor at 604-665-3103

 

 The Bank of Montreal, Georgia & Homer Branch, in Vancouver, BC, has created a line of credit package for VFS students.

  • Your credit limit will be based on your need and ability to repay.
  • A co-signer may be required.
  • The minimum amount for the Bank of Montreal Student Line of Credit is $5,000.

For detailed information, contact

Kanchy Nakagawa, Financial Services Manager at 604-665-7273

Many financial institutions also offer lines of credit or personal loans. These student lines of credit often start at a minimum of $4,000. In addition to the two banks above, you can also talk to:

Financial aid options for Canadian citizens or permanent residents only.

Canada and Provincial Student Loans are available to Canadian Citizens and Landed Immigrants/Permanent Residents who are enrolled in a full-time program at VFS.

 

Government Student Loan funding is based on tuition, fees, books, supplies, living expenses, income and available resources and reaches a maximum yearly level that varies province by province.

 

Our Admissions Advisors are available to help answer your questions and provide detailed information on any aspect of qualifying criteria, maximum loan amounts, your specific situation, and applying for Student Assistance. The information below is provided only as a guide.

 

You can apply by contacting VFS, or by calling Canada Student Loans toll-free at 1-888-815-4514.

LLP is a program that allows Canadian residents to withdraw funds from their Registered Retirement Savings Plans (RRSPs), without penalty, to fund their education.

To apply, you must have a letter of acceptance to a full-time program from VFS. The LLP allows you to withdraw up to $10,000 per year (to a maximum of $20,000) for you, or your spouse, without the withdrawal being taxed. You have up to ten years to pay back your withdrawal.

An RESP is a, tax-deferred, savings vehicle generally used by parents to save for their children's post-secondary education.

Contributions to an RESP for a child beneficiary may be eligible for Canada Education Savings Grant payments (CESG). Investment earnings on contributions and CESG payments can grow tax-free until they are distributed and included in the recipient's income, and taxed accordingly. In most cases, the recipient is a student whose total income results in a minimal amount of tax.

NOTE: The financial options that have been presented have no affiliation with VFS and are listed for information only. Please read carefully the full text (and the fine print) of any contract in which you engage and be sure you understand it before you sign it. VFS is not responsible for terms and conditions imposed by third-party services.

 

Tuition and Fee Refund Policy

VFS is designated by the Private Training Institutions Branch (PTIB) of the Ministry of Advanced Education of BC, #0027, and holds a designation certificate. The following Refund Policy is in accordance with the PTIB.

To be considered for a refund, students must submit a written notice of withdrawal to VFS by registered mail, fax, email or delivery to VFS Educational Administration. If students hand-deliver their written notice, they need to have VFS mark the notice when it was received, and provide students with a copy for their records. Non-attendance does not constitute notice of withdrawal. Refunds are based on a percentage of hours of instruction to be provided during the contract term, excluding weekends, holidays and scheduled school breaks. Where total fees have not yet been collected, VFS is not responsible for refunding more than has been collected to date and a student may be required to make up for monies due under the contract.

VFS will refund the tuition for the program and all related fees paid if the student is enrolled in the program without having met the admission requirements and did not misrepresent his or her knowledge or skills when applying for admission.

Refunds

If VFS receives tuition, VFS will refund the tuition that was paid in relation to the program in which the student is enrolled if VFS receives a notice of withdrawal from the student no later than seven days after the effective contract date and before the contract start date.

After seven days after the effective contract date and:

  1. at least 30 days before the contract start date, VFS may retain up to 10% of the tuition due under the student enrolment contract, to a maximum of $1,000.
  2. less than 30 days before the contract start date, VFS may retain up to 20% of the tuition due under the student enrolment contract, to a maximum of $1,300.

VFS will refund the tuition if the student, or the student's parent or legal guardian, signs the student enrolment contract seven days or less before the contract start date and VFS receives a notice of withdrawal from the student between the date the student, or the student's parent or legal guardian, signed the student enrolment contract and the contract start date.

If a student does not attend any of the first 30% of the hours of instruction to be provided during the contract term, VFS may retain up to 50% of the tuition paid under the student enrolment contract.

If VFS receives a notice of withdrawal from a student, or if VFS delivers a notice of dismissal to a student:

  1. If a student withdraws after the start date and up to and including the date on which 10% of the hours of instruction have been provided, VFS may retain 30% of the tuition due under the student enrollment contract.
  2. If the student withdraws after the date on which more than 10% but before the date on which 30% of the hours of instruction have been provided, VFS may retain 50% of the tuition due under the student enrollment contract.
  3. If, on the date VFS delivers the notice of dismissal to the student, VFS has provided 10% or less of the hours of instruction, VFS may retain 30% of the tuition due under the student enrollment contract.
  4. If, on the date VFS delivers the notice of dismissal to the student, VFS has provided more than 10% but less than 30% of the hours of instruction, VFS may retain 50% of the tuition due under the student enrollment contract.
  5. At 30% or more of the hours of instruction to be provided during the contract term have been provided, no refund will be provided.

VFS will refund fees charged for course materials paid for but not received if the student provides a notice of withdrawal to VFS, or VFS provides a notice of dismissal to the student.

Refunds required under this policy will be paid via the original method of payment within 30 days

  1. of the date VFS receives a student's notice of withdrawal, or
  2. of the date VFS provides a notice of dismissal to the student, or
  3. of the date that the registrar provides notice to VFS that VFS is not complying with section 6.3 of this policy, or
  4. after the first 30% of the hours of instruction if section 6.4 of this policy applies.

(Note: an international student is a person who is not a Canadian Citizen or permanent resident or has been determined under the Immigration & Refugee Protection Act to be a Convention Refugee). VFS will retain the lesser of 10% of the Total Fee due under the contract or $400 from international students who apply for and:

  1. are denied a study permit authorization from Immigration, Refugees and Citizenship Canada, and
  2. do not receive authorization prior to the start of program study,

provided that

  1. the student notifies VFS of the circumstances in subsection 6.7 (i) on or before the first day the program is scheduled to begin, and
  2. the student, within a reasonable time, provides documentation of the circumstances in subsection 6.7 to VFS, by way of a copy of the denial letter.