Vidar Foundation Tuition Loan Program
Introduction
There is a demonstrated need for more Waldorf teachers and Waldorf early childhood educators across Canada. However, some prospective students are unable to afford the tuition for the relevant training courses available through Rudolf Steiner College Canada (RSCC). While these organizations have access to some bursary funding through the Association of Waldorf Schools of North America and some other tuition support, it is not sufficient to enable all eligible students to enroll.
Rudolf Steiner College Canada (RSCC) has partnered with the Vidar Foundation to establish the Vidar Tuition Loan Program (VTLP) for Waldorf Teacher Education and Waldorf Early Childhood Education Students in Canada.
VTLP Terms
VTLP will offer limited, no-interest loans up to a maximum of 80% of full tuition to eligible students (Canadian only). The loan doesn’t include covering expenses for books, travel, or accommodation. Loans will be secured through community co-signers (‘loan guarantors’) and will be repayable over a five-year period following graduation.
A loan may granted for a 1 year, 2 year or 3 year course of study. While loans may be repaid sooner, all loans must be repaid within five years following graduation, and no bursaries will apply after this time. Monthly loan repayment rates must be at least $100/month.
In lieu of any interest on the loan, all students will be asked to make a 5% “Growth Contribution” payable upon enrolment. This is not an administrative fee, interest, or profit for Vidar. Your contribution will stay in the loan fund, to help it grow over time and support other students for many years to come.
VTLP Bursaries
As a gift from supporters of the VTLP who wish to help you succeed and teach at a Waldorf School, 10% of your loan will be forgiven after each year of full-time teaching at a Canadian Waldorf School, to a maximum of 3 years and 30% of tuition in the 5 years after graduation. This is in addition to any other tuition assistance or bursaries from other sources.
To qualify for the bursary, you must fully complete your program and your account must be in good standing with the school. Part-time years can be collected to an aggregate full-time year equivalent within the 5-year period.
Once contracted, students’ loans will be directly transferred from the VTLP account to RSCC and WCI accounts, according to the regular tuition payment schedule that students would follow if paying on their own.
Loan guarantors
Each loan applicant will be asked to identify and approach community members who would be willing to act as loan co-signers (loan guarantors) and support their loan application in this way. The training institution will work with the applicant as required to secure sufficient loan guarantors, including locating guarantors from amongst the broader anthroposophical community as required.
A co-signer agrees to pay back a portion of the loan should the student in question default on the payments. Co-signers sign a simple contract confirming their willingness to underwrite a specific portion of the loan.
VTLP Loan application process
The loan application process consists of 3 stages:
1. Students submit the Vidar loan application form to RSCC
2. A short interview is held between the student and the RSCC representative;
3. RSCC communicates the final decision to the student.
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