Purpose

With current average tuition costs of $5500+ per year, students may end up having to borrow more than $20,000 just to pay these fees. Through interest free loans for up to 80% of the cost of tuition, a student could save up to $6,200 in interest costs and reduce the burden of debt servicing by the time of graduation. Even better, students maintaining high academic standing in their year are eligible to have up to 20% of the loan forgiven. This would be equivalent to receiving an additional $3,400 award over a four year period. The total savings for these students would be equivalent to receiving a bursary with a value of $8,000 to $10,000 depending on the length and type of the academic program. The Founders of the Awde Education Fund believe that by helping students in our family to receive a post-secondary education, those who benefit should, in turn, be better able to help others. In addition to the contribution they make back to society, recipients will contribute directly back to the Awde Education Fund through repayment of their loans.

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