Financing Your Education

The Plan

It’s going to cost HOW much???

Costs: Tuition

Any guesses??

Costs: Tuition

Around $6,000

Costs: Books & Supplies

Any guesses??

Costs: Books & Supplies

Around

$1,000

PSYC 1F90

• Campus Bookstore: $183.99

• Amazon $145.16 + shipping

• Loose Leaf $91.95

• USED $29.10

Costs: Living Expenses

Any Guesses??

Costs: Living Expenses

IT DEPENDS!

Estimated Costs

Everyone isdifferent.

Estimated Costs

That’s why you need to

make a budget.

Estimated Costs

Academic Costs

Tuition $6,000

Books & Supplies $1,000

Computer Costs $500

Academic Total $7,500

Living Costs At Home Away from Home

Rent & Utilities - $3,600

Phone & Internet $400 $600

Food $800 $3,300

Transportation $200 $200

Clothes & Personal Supplies $300 $300

Activities $500 $500

Living Cost Total $2,200 $8,500

Grand Total $9,700 $16,000

Financing Your Education

How are yougoing to payfor school?

Financing Your Education

• OSAP• RESPs• Bank Loans• Scholarships

• Bursaries• Savings • Experience Works• Part-time Work

Resources

OSAP

Resources

Ontario Student Assistance Program

OSAP

Close to 50% of Ontario undergraduate students get help through OSAP.

OSAP internal statistics as presented in2009-2010 OSAP High School Presentation (English)Ontario Ministry of Training, Colleges and Universities

OSAP

Maximum funding

≈ $13,000

OSAP

Grants

+

Loans

+

Bursaries

Including:

• 30% off Ontario Tuition Grant

• $1600 – degree program

• $730 – diploma or certificate program

OSAP

Interest-free

during

full time study

OSAP

Grants =

Free $!

OSAP

Things you need to know about OSAP:

To be eligible you must be:

A Canadian Citizen, Permanent Resident or Protected Person

A resident of Ontario

Registered in a full time course load at college or university

OSAP Calculation: The Coles Notes version

Estimated Costs

Expected Contributions-

OSAP Aid Estimator

How you get OSAP

1. Apply online

2. Send documents

to your school

3. Process your funding

How you get OSAP

1. Apply online

2. Send documents

to your school

3. Process your funding

1. Apply online

• Application online by the end of April.

• Apply by the end of June.

OSAP

Save your login information in a safe place.

OSAP

Once you apply, you will get an estimate of

funding.

This may change.

Keep your school informed.

Confirming Income

OSAP

(Even if you don’t think you need OSAP, we

think it’s a good idea to

apply.)

OSAP

1. Apply online

2. Send documents

to your school

3. Process your funding

OSAP

Check your status.

How you get OSAP

1. Apply online

2. Send documents

to your school

3. Process your funding

Process @ Canada Post Office

Processing OSAP

You’ll need your ID.

Government Issued Photo ID

Processing OSAP

AND

Proof of your Social Insurance Number (SIN)

OSAP - Current

2 Installments

… maybe more

A few important details…

OSAP Checks!

OSAP

You may not have to pay it all back!

Ontario Student Opportunity Grant

($7,300 in 2011-2012)

Expected Contributions

Savings

Family Contribution

First 4 years.

Savings

Bad news:

Savings

About half of students 18-24 work during the school

year.

Students in the labour marketJeannine Usalcas and Geoff BowlbyLabour Force SurveyStatistics Canada

Savings

Good news:

Savings

There are some great on campus

jobs available.

Experience Works

• Career related experience

• Build a resume!

Career Services

FREE

• Workshops

• Drop in services

• Resumes, Cover Letters, Portfolios

• Job search

Resources

Scholarships

Scholarships

• Academic merit

• Leadership

• Student Involvement

• Other great stuff

Scholarships

The Brock Scholars Award93% and above $14,000 ($3,500 for up to 4

years) 90% - 92.9% $8,000 ($2,000 for up to 4 years) 85% - 89.9% $4,000 ($1,000 for up to 4 years) 80% - 84.9% $3,000 ($750 for up to 4 years)

You don’t even have to apply!

Scholarships

Check your offer of admission.

Check with your school.

Think about next year.

Award Search

Awards and Bursary Application

• 1 application. • 100s of awards and bursaries.

Resources

Bursaries

Bursaries

What are they??

Bursaries

Based on Financial Need

Bursaries

Brock’s General Bursary Program

Available August 1st

Bursaries

Publicly funded colleges and universities in Ontario

have a commitment to helping students in need.

Bursaries

Check with your school.

Financing Your Education

Budgeting

Student Loans

Savings

Scholarships

Bursaries

Financing Your Education

Your university or

college can help.

Learn More

Questions??

• Costs

• Scholarships

• Bursaries

• OSAP

• Work Study