FINANCING A  UNIVERSITY EDUCATION
<ul><li>Costs </li></ul><ul><li>Sources of Funding </li></ul><ul><li>Work Study and Part-time work </li></ul>Presentation ...
<ul><li>Tuition & Ancillary Fees*   $5,500 - $7,700 </li></ul><ul><li>(depending on the program) </li></ul><ul><li>Room an...
Sources of Funding <ul><li>Scholarships </li></ul><ul><li>Bursaries </li></ul><ul><li>OSAP </li></ul><ul><li>Bank Loans </...
<ul><li>Carleton University recognizes academic achievement by awarding entrance, in-course and departmental scholarships....
<ul><li>In-Course and Departmental Scholarships </li></ul><ul><li>If not awarded entrance scholarship and have A- average,...
<ul><li>Renewable Entrance Scholarships </li></ul><ul><li>Paid over the first four years of undergraduate studies </li></u...
<ul><li>What is a Bursary? </li></ul><ul><li>A bursary is a monetary award similar to a scholarship – the value does not h...
<ul><li>OSAP is the student assistance program administered by the Ontario Ministry of Training, Colleges and Universities...
<ul><li>Step 1  Apply Early! Apply Online. </li></ul><ul><li>Complete the online OSAP application at osap.gov.on.ca. and  ...
<ul><li>Step 1 Confirm your Loan/Grant Certificate has been issued. </li></ul><ul><li>Check the status of your OSAP applic...
Bursaries Based on Need Not Repayable Scholarships Based on Merit Not Repayable OSAP/PSL Based on Need Repayable No co-sig...
<ul><li>What is work study? </li></ul><ul><li>Where can a student find  </li></ul><ul><li>a part-time job? </li></ul><ul><...
What is Work-Study Program? <ul><li>For students receiving OSAP </li></ul><ul><li>Multiple positions reserved on campus </...
Part-time Job Locations <ul><li>On Campus </li></ul><ul><li>Athletics </li></ul><ul><li>Tour Guides </li></ul><ul><li>Libr...
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Financing a University Education

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Financing a University Education

  1. 1. FINANCING A UNIVERSITY EDUCATION
  2. 2. <ul><li>Costs </li></ul><ul><li>Sources of Funding </li></ul><ul><li>Work Study and Part-time work </li></ul>Presentation Overview
  3. 3. <ul><li>Tuition & Ancillary Fees* $5,500 - $7,700 </li></ul><ul><li>(depending on the program) </li></ul><ul><li>Room and Board $7,485 - $8,190 </li></ul><ul><li>(Double room in traditional residence; includes </li></ul><ul><li>meal plan; telephone; internet) </li></ul><ul><li>Off Campus Living $7,600 </li></ul><ul><li>(estimate based on 8mos rent; shared </li></ul><ul><li>accommodation; food; utilities; cable; laundry) </li></ul><ul><li>Books and Supplies $1,200 </li></ul><ul><li>(varies according to program) </li></ul><ul><li>Personal Expenses $2,000 </li></ul><ul><li>(Clothing; toiletries; hair cut; entertainment) </li></ul><ul><li>Transportation (local) $400 </li></ul><ul><li>Minimum Cost for One Academic Year $16,585 </li></ul><ul><li>(if living on campus) </li></ul><ul><li>* Tuition fee for International Students $14,841- $17,124 </li></ul>Costs
  4. 4. Sources of Funding <ul><li>Scholarships </li></ul><ul><li>Bursaries </li></ul><ul><li>OSAP </li></ul><ul><li>Bank Loans </li></ul><ul><li>Part-time work </li></ul>
  5. 5. <ul><li>Carleton University recognizes academic achievement by awarding entrance, in-course and departmental scholarships. </li></ul><ul><li>Entrance Scholarships </li></ul><ul><li>80% average or higher when entering University </li></ul><ul><li>Available for transfer students from other Canadian Universities </li></ul><ul><li>No application required; if eligible - students will receive a scholarship offer with their offer of admission. </li></ul>Scholarships
  6. 6. <ul><li>In-Course and Departmental Scholarships </li></ul><ul><li>If not awarded entrance scholarship and have A- average, awarded in-course scholarship for the year </li></ul><ul><li>There are also numerous Departmental Scholarships awarded to students based on their academic standing and year of study </li></ul><ul><li>How Scholarships are paid? </li></ul><ul><li>Scholarships are first applied to your tuition fees provided you register for the full academic year </li></ul><ul><li>Scholarships are paid/ issued in two installments: half in the fall session (issued on August 16th) and half in the winter session (issued on December 16th) </li></ul>Scholarships
  7. 7. <ul><li>Renewable Entrance Scholarships </li></ul><ul><li>Paid over the first four years of undergraduate studies </li></ul><ul><li>Must register in a complete full course load (min 4.0 credits in the fall-winter sessions) </li></ul><ul><li>Maintain an A- standing (10.0 GPA or better) </li></ul><ul><li>If lost one year, the scholarship can be regained in a subsequent year of your first four years of study </li></ul><ul><li>Calculation of GPA for Scholarship purposes </li></ul><ul><li>For the 2009/2010 academic year we will use grades from: </li></ul><ul><li>Summer 2009 </li></ul><ul><li>Fall 2009 </li></ul><ul><li>Winter 2010 </li></ul><ul><li>Based on your GPA, we determine if you will renew your scholarship for the 2010/2011 </li></ul><ul><li>academic year. </li></ul><ul><li>If you did not take any courses in Summer 2009, we will only use grades from the 2009/10 </li></ul><ul><li>Fall-Winter study period. </li></ul>Scholarships
  8. 8. <ul><li>What is a Bursary? </li></ul><ul><li>A bursary is a monetary award similar to a scholarship – the value does not have to be repaid. </li></ul><ul><li>It is awarded primarily on financial need rather than academic achievement. </li></ul><ul><li>All applicants who receive an offer of admission received information on “Financing Your Studies”, and the Entrance Bursary Program. </li></ul><ul><li>The Entrance Bursary Application deadline is June 30, 2009 (students who have not applied by this date may still be considered for a bursary by completing the general bursary application available as of September) </li></ul>Bursaries
  9. 9. <ul><li>OSAP is the student assistance program administered by the Ontario Ministry of Training, Colleges and Universities </li></ul><ul><li>Funded by the provincial and federal governments. </li></ul><ul><li>OSAP provides loans, grants, scholarships and bursaries. </li></ul><ul><li>A needs based program calculated by comparing your financial resources to costs </li></ul><ul><li>Money can be used to assist with tuition, books, mandatory fees, living costs and transportation. </li></ul>osap.gov.on.ca OSAP
  10. 10. <ul><li>Step 1 Apply Early! Apply Online. </li></ul><ul><li>Complete the online OSAP application at osap.gov.on.ca. and print out the </li></ul><ul><li>Consent, Declarations and Signatures sections. </li></ul><ul><li>Step 2 Send us your Consent Forms. </li></ul><ul><li>Sign the Consent, Declarations and Signatures sections of your OSAP application </li></ul><ul><li>and send the signed forms to the Awards Office as soon as possible. We cannot </li></ul><ul><li>begin processing your OSAP application without them! </li></ul><ul><li>Step 3 Respond to Information Requests. </li></ul><ul><li>Once you have submitted all the necessary paperwork to the Awards Office, you </li></ul><ul><li>should frequently check the status of your application until it has completed </li></ul><ul><li>processing and a Loan/Grant Certificate has been issued for you. Respond </li></ul><ul><li>promptly to any requests we may have for additional information or documentation. </li></ul><ul><li>You can monitor the status of your OSAP application online at both Carleton Central </li></ul><ul><li>and the OSAP website. You should also check your MyCarleton email account at least </li></ul><ul><li>once a week for messages concerning your OSAP. </li></ul>How do students apply for OSAP?
  11. 11. <ul><li>Step 1 Confirm your Loan/Grant Certificate has been issued. </li></ul><ul><li>Check the status of your OSAP application on Carleton Central. If your status is </li></ul><ul><li>shown to be “Loans Received. File Processed” then your initial OSAP Loan/Grant </li></ul><ul><li>Certificate is ready for you to pick up from the Awards Office as of September. </li></ul><ul><li>Step 2 Consult the Release Schedule. </li></ul><ul><li>To find out when you can come in to pick up your loan/grant certificate, consult the </li></ul><ul><li>Loan/Grant Release Schedule posted on the Awards Office website early August. </li></ul><ul><li>Step 3 Pick up your initial OSAP Loan/Grant Certificate. </li></ul><ul><li>You must pick-up your Loan/Grant Certificate in person at the Awards Office </li></ul><ul><li>(202 Robertson Hall) so that we may confirm your registration and review the </li></ul><ul><li>document with you prior to releasing it. You will need to bring with you your </li></ul><ul><li>Social Insurance Number (SIN) card and one piece of valid Federal or Provincial </li></ul><ul><li>Government-issued photo-identification (e.g. driver’s license, age of majority card, </li></ul><ul><li>passport). We must verify your identity with these documents before we can </li></ul><ul><li>release your OSAP Certificate to you. </li></ul>You have applied and been approved for OSAP funding, but how will you access it?
  12. 12. Bursaries Based on Need Not Repayable Scholarships Based on Merit Not Repayable OSAP/PSL Based on Need Repayable No co-signer Interest free until you are no longer a ft student Bank Loans Based on Need Repayable Need a co-signer Pay small amount of interest on what you borrow Sources of Funding
  13. 13. <ul><li>What is work study? </li></ul><ul><li>Where can a student find </li></ul><ul><li>a part-time job? </li></ul><ul><li>How much should a student work? </li></ul>Work Study & Part-time Work
  14. 14. What is Work-Study Program? <ul><li>For students receiving OSAP </li></ul><ul><li>Multiple positions reserved on campus </li></ul><ul><li>15 hrs/week, capped at 200 hrs/year </li></ul><ul><li>Comparable to a bursary that you work to earn </li></ul>
  15. 15. Part-time Job Locations <ul><li>On Campus </li></ul><ul><li>Athletics </li></ul><ul><li>Tour Guides </li></ul><ul><li>Library </li></ul><ul><li>The Bookstore </li></ul><ul><li>CUSA </li></ul><ul><li>RRRA </li></ul><ul><li>Dining Services </li></ul><ul><li>Off Campus </li></ul><ul><li>South Keys Mall </li></ul><ul><li>Bank St. </li></ul><ul><li>Rideau Centre </li></ul><ul><li>FSWEP </li></ul>
  16. 16. QUESTIONS?
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