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Financing a University Education

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

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