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Funding Options for your Beauty Business – General

If you’re looking to start a career in the beauty industry but need help covering the costs, you’re in luck. There are several ways to fund your new beauty business studies, including:

  1. Part-time work: You can earn money while studying by taking up part-time work or enrolling in an apprenticeship program that pays a wage while you earn your diploma or certificate.
  2. Scholarships: In traditional settings, scholarships are often awarded to students who show a commitment to their studies. They are not always based on academic achievement, so don’t be discouraged if your grades aren’t the best. Organizations like Manulife often award scholarships like the ones found here. Students can often find many funding opportunities by googling available scholarship opportunities within their communities. Here at The Unicorn we offer exclusive scholarships to marginalized communities – stay tuned for this program which we are aiming to launch by the summer of 2023!
  3. Bursaries: Bursaries are awarded based on financial need and don’t have to be repaid.
  4. Government Loans: Canada or Alberta government loans can be a great option as you don’t have to start paying them until after you finish school. You’ll also get a 6-month grace period before you begin paying interest, and the interest rate is usually lower than a bank loan.
  5. Student Grants: Canada or Alberta student grants can supplement your student loan and don’t have to be repaid after graduation. They may be available to low-income families, students with dependents, or students with permanent disabilities.
  6. Bank Loans: A student line of credit from a bank or similar bank loan is another option.

The funding streams you are eligible for depend on factors such as the school you plan to attend, the program you’re interested in, your current or past employment status, and EI eligibility. Some specific options include Alberta Works for EI, Alberta Works Non-EI, Alberta Works for Apprentices, Training Support Application-Part Time Studies, and DRES.

While not all of these options may be available at once, students may need to do various leg-work researching the specific varying organizations and their requirements in order to recieve funding.

The Unicorn Beauty Depot is happy to offer assistance however we can and will gladly write customized ‘Acceptance Letters’ for students requiring them for their sponsors application process. Simply contact us when you are ready!