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Funding Your Post Secondary Education
Financial Aid and OSAP
2018-2019 Tuition and Fees and Deadlines
• Graduate Tuition Fees vary between research/thesis based programs and professional programs.
Please visit https://www.trentu.ca/graduatestudies/experience/tuition-awards-funding/student-fees for more
information
Deadline Date
Sept 28th Fall Term Fees Due (OSAP/sponsored) Check balance via myTrent portal – Statement of Account
January 28th Winter Term Fees Due (OSAP/sponsored) Check balance via myTrent portal – Statement of Account
May 28th Summer Term Fees Due (OSAP/sponsored) Check balance via myTrent portal – Statement of Account
Student Accounts Office
Email: [email protected]
Phone: 905-435-5100 ext. 1317
OSAP Application Deadline Dates• Fall Only – NOVEMBER 1• Fall/Winter – MARCH 1• Fall/Winter/Summer – JULY 2
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https://ontario.ca/osap
What is OSAP?• Government student assistance
program for Ontario residents
• Amount of funding based on a number
of variables: family income, family
size, assets, etc.
• Combination of Federal and Provincial
Loans and Grants
• Loans are interest free while registered
full-time in a post-secondary institution
• Grants do not have to be paid back
• Review before submitting
your application
• Print, complete, and
submit required
documents
• Upload Consent/Signature
pages online or bring to
Financial Aid Office
• Complete MFSAA online –
you will have a link to
register with National
Student Loans
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OSAP - Last Steps
Funding Your Post Secondary Education
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Your OSAP Estimated Funding
Funding Your Post Secondary Education
Funds are released:
• Automatically to school to pay fees
• You are responsible for ensuring school fees are paid in full
Scholarships/Awards & Income – What do I report to OSAP?
Income or Award Report to OSAP
Scholarships/Fellowships Award YES
Supervisor Support/TA Income YES
Employment Income Income YES
Ontario Graduate Scholarship (OGS) &Trent Bursaries
Award NO – Trent reports
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• Program Information – one, two or three
terms
• Percentage of course load – 100% unless
part-time or disability status on OSAP
• Current situation – married, single, sole-
support
• Assets - RRSPs• Include – savings bank accounts including TFSAs,
GICs, stocks, Canada Savings Bonds, etc…
• DO NOT include – vehicles, principal residence,
RRSPs, RESPs, Child Tax Benefit, etc…
OSAP – Key Points
• Scholarships & Bursaries• Discussed previously
• Income
• Income for prior year
• Expected earnings while in school
(employment) including TA
• Any Government Assistance (OW,
ODSP, EI)
• Non-taxable income such as child
support
Changes to OSAP – submit OSAP Change form online via myTrent portal under FINANCES tab
• Register account online via MFSAA process
• Set-up account to receive funds (your bank account)
• Track your student loan and grant status
• Receive important updates & alerts
• Helpful tools, tips and other resources to manage student funding
• Loan Repayment
• Starts 6 months after you cease to be a full-time student
• RAP Program – monthly payments will either be reduced or not expected for
6 month – criteria and application online via NSLSC website
• Webinar Link: https://www.trentu.ca/studentfinances/osap-out-province-work-
study/national-student-loans-services-centre
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National Student Loans Service Centre
Frequently Asked Questions
• What are possible reasons OSAP funding could be delayed?
Not registered – incomplete paperwork
• How can I select the ‘NO LOAN’ option on OSAP?
Click on the Funding Screen – grant only
• Continuation of Interest Free Status – what is this?
If you have previous loans & aren’t taking any this year complete a confirmation
of enrollment form on the OSAP website and will update National Student Loans
• How is OSAP distributed if I am studying Fall – Winter & Summer?
60% in the fall and 40% in the winter – Do a 12 month budget with your funding
• Are scholarships considered employment income?
No it goes under Award Income
• How do students report Supervisor support?
Earned Income – same as other employment income
• How do I update OSAP if I finish early?
OSAP change form – MyTrent under finance tab
Frequently Asked Questions Continued
• Restrictions – how do they happen? – example – income variance or lifetime limits
Income Variance caused by not updating change in income – CRA verifies and the restriction can
be either a 3 three year or a 5 year
Lifetime Limits for OSAP funding: 340 weeks for Master student and 400 weeks for Phd.
- remember interest free periods are counted
• Start planning
• Try the estimate calculator on the OSAP website
• Start saving money
• OSAP is not designed to cover all expenses
• Look for external awards and scholarships
• Be aware of how you spend – budget!
• Visit the Grad Studies office
• Visit the Financial Aid office
• We are here to help!
How to Prepare
Trent’s Financial Aid Office
Phone: 705-748-1011 ext. 1524
Email: [email protected]
Web: www.trentu.ca/studentfinances
Thank you for attending!