Financing Your Education

1
Financing Your Education

• Guidance Department

2
Choosing a School and Program Wisely

• Choose your school and program carefully.
• Postsecondary education costs you time, money,
  and effort.
• It is a big investment, so you should evaluate
  carefully the postsecondary institution you plan
  to attend and the programs you intend to enroll
  in.
• Just because you have a scholarship or your
  chosen school participates in OSAP does not mean
  that the education it provides will guarantee you
  employment or an income sufficient to repay your
  student loans.

3
How much is it going to cost?

• EXPENSES
• Direct Expenses
• Tuition
• Student fees / other ancillary fees
• Books and supplies
• Living Expenses
• Accommodations (residence or apartments)
• Utilities
• Phone
• Food / meal plan
• Clothing
• Transportation
• Parking
• Miscellaneous
• TOTAL EXPENSES

• INCOME (How can I get the money?)
• Savings / RESP
• Part-time job during the high school year
• Summer job
• Help from your extended family
• Scholarships
• Bursaries or grants
• Loans (OSAP / bank)
• Working during the college or university school
  year
• TOTAL INCOME

4
What is available?

• OSAP
• Bank Loans
• Scholarships
• Bursaries

5
OSAP

• OSAP is a joint venture of both the federal and
  provincial government it is comprised of CSL
  (Canada Student Loans) and OSL (Ontario Student
  Loans).
• OSAP provides financial assistance for
  educational costs and basic living expenses.
• Before you apply for OSAP, it is beneficial to
  understand the principles behind the program
• The cost of post-secondary education is a shared
  responsibility among students, parents, spouses
  and government.
• Assistance is intended to supplement student and
  family resources.
• Assistance is issued based on financial need.

6
Bank Loans What is a Brain Money Student Line
of Credit?

• The Brain Money Student Line of Credit is
  different from a traditional loan because once
  approved you only take out what you need, when
  you need it, as many times as you want (up to
  your credit limit of course).
• You can use it for whatever you want - tuition,
  books, computers, rent, travel, and much more -
  it's up to you.
• While you are in school, you only pay interest on
  the amount you actually use.

7
Aiming for the Top Tuition Scholarships

• The Queen Elizabeths Aiming for the Top Tuition
  Scholarship is designed to recognize students who
  have shown academic excellence at the
  high-school level and to assist students with
  financial need.
• It is available for students who have applied to
  either an Ontario College or an Ontario
  University.
• You may be considered for the Queen Elizabeth
  Aiming for the Top Tuition Scholarship if you
• You have to apply to OSAP first
• Attended or will attend an Ontario High School in
  2008-9 and achieve academic excellence
• Apply to attend a provincially funded Ontario
  University or College of Applied Arts and
  Technology 
• Will be a full-time postsecondary student in the
  2009-2010 academic year.
• The value of the scholarship varies between 100
  and 3,500 per academic year.

8
Millennium Scholarships

• Individuals who intend to enter a Canadian
  College or a Canadian University undergraduate
  program for the first time may apply. 
• The selection criteria include
• academic achievement
• demonstrated service to the community that is
  positive and verifiable
• demonstrated capacity for leadership and ability
  to motivate others
• demonstrated interest in innovation

9
Scholarships and Financial Aid at Ontario
Universities

• BrockFinancing Your Education Scholarships,
  Bursaries Awards
• CarletonKnowing Your Expenses Awards Office
• GuelphStudent Financial Services Web site
• LakeheadFinancial Aid Office
• LaurentianThe Student Awards Office
• McMasterStudent Financial Aid and Scholarships
• NipissingFinancial Aid, Scholarships Awards
• OttawaFinancial Aid and Awards Service

• Queen'sStudent Awards Office
• RyersonStudent Financial Assistance
• University of TorontoFinancial Aid
• Trent University
• University of WaterlooFinancing
• University of Western OntarioAwards
  ScholarshipsBursariesFees
• Wilfrid LaurierStudent Awards
• University of WindsorMoney Matters
• York UniversityOffice of Financial
  ServicesMoney Matters

10
Scholarships and Financial Aid at Ontario
Colleges
11
The Garfield Weston Merit Scholarship for Colleges

• A program of The Canadian Merit Scholarship
  Foundation, and is sponsored by The W. Garfield
  Weston Foundation.
• It is designed to identify, recognize and reward
  well-rounded students and adults who intend to
  undertake full-time study in a two or three year
  program leading to a diploma at one of our
  participating colleges.

12
Other Scholarships and Bursaries

• Aird Scholarship
• Fellowship for Studying in French
• Sir John A. Macdonald Graduate Fellowship in
  Canadian History
• Ontario Graduate Scholarship
• Ontario-Quebec Exchange Fellowship
• Summer language Bursary Program

13
Scholarship Search

• Studentawards.com is a leading FREE commercial
  Canadian scholarship search service devoted to
  helping high school, college and university
  students find information on scholarships,
  bursaries, grants, and other forms of financial
  assistance available from the private sector and
  not-for-profit organizations.

14
Other Useful Web Sites

• http//yrdsb.edu.on.ca/guidance.services
• www.studentawards.com
• www.scholarshipscanada.com
• www.osca.ca
• www.studentcounsellor.com

15
Other Resources

• Scholarship Bulletin Board
• INFO University book
• Scholarship books (available in book stores)
• A Handbook of Scholarships,Awards and Financial
  Assistance for Canadian High School graduates by
  Brian Charles Harris
• Winning Scholarship by Michael Howell
• University and College Calendars