Financing a University EducationPresentation Transcript
FINANCING A UNIVERSITY EDUCATION
Sources of Funding
Work Study and Part-time work
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
Sources of Funding
Carleton University recognizes academic achievement by awarding entrance, in-course and departmental 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.
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)
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:
Based on your GPA, we determine if you will renew your scholarship for the 2010/2011
If you did not take any courses in Summer 2009, we will only use grades from the 2009/10
Fall-Winter study period.
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)
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.
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