VISIBLE MINORITIES
Alberta is a multicultural hub with various minorities. Many resources are provided to ensure the stereotypical barriers are not only avoided but prevented. There are financial resources available to ensure minorities can beat common socioeconomic factors. Financial resources are not only available to students and nonprofits, but small business owners as well.
Scholarships:
Many scholarships are available to visible minorities attending school. The table below has a few organizations providing scholarship applications or scholarships alongside the minority group it is intended to support.
Based on 2019/2020 research.
The government also provides grants to minority students and businesses throughout Canada which can be found through Canada Grant Watch. Government of Canada Funding is also available for various reasons including to support minorities.
Banking Resources for Newcomers:
One of the first things that newcomers need to do upon arrival is to set up a bank account. There are various banks that have resources and promotions strictly for newcomers. This can mean cash back, no monthly fees, and various other rewards. Listed below are the major banks of Canada along with the highlights of their offers.
Based on 2020 information from the above banks.
Newcomers may need financial support for housing and basic living expenses. Many resources are available from the Government of Canada Housing. This includes various types of housing, hotels, and hostels available. There is also a Housing Help Centre that amid many things, provides financial literacy training for newcomers to learn more about banking, budgeting, credit, government taxation and income support programs. For various events prepared for newcomers, Canada has set up Newcomers Canada which includes multiple ways to connect with the community.
During current times, newcomers may be especially vulnerable to lack of income due to insufficient employment as a result of COVID-19. According to the Government of Canada's Financial Assistance Program there are various funding sources available depending on the individual's situation. Prosper Canada provides lessons, tools, and tips for financial success as a newcomer. Individuals can also register an email to get newsletters on resources currently available. The Government of Alberta also provides support for newcomers through Integration Grants. Canada does well when it comes to financial support for newcomers including providing the right resources to become successful in Canada.
Something that may not always come up when dealing with finances as a newcomer is trying to set up car insurance and health insurance. For car insurance there are several factors that may cause various rates. Below is a breakdown of the general factors as well as insurers that acknowledge and/or have programs for newcomers.
Based on 2020 research.
In Canada, Canadian citizens and permanent residents have free healthcare with slight limitations of course such as no dental coverage for adults. In these cases additional coverage can be purchased. Newcomers have limited access to free medical care and may need to pay for additional treatments. Arbetov Insurance provides newcomers with medical insurance according to the lifestyle and needs of the family or individual. The Government of Canada provides more information on getting health care insurance coverage. Many newcomers will be happy to hear that jobs in HealthCare, Construction, and other industries will likely provide some additional coverages like dentist visits, recreational, and more.
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