Financing a University Education

FINANCING A UNIVERSITY EDUCATION

Costs

Sources of Funding

Work Study and Part-time work

Presentation Overview

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

Sources of Funding

Scholarships

Bursaries

OSAP

Bank Loans

Part-time work

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

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

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

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

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

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?

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?

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