Student Financial Services Office of the Registrar

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Student Financial Services Office of the
Registrar
Managing Your Money
Well Get you there!
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Our Guiding Principle
Student Financial Services is committed to
ensuring that no undergraduate student who has
been offered admission should be prevented from
attending Western or be forced to withdraw from
Western for lack of access to adequate financial
resources.
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The Costs of University
..The Reality Behind the
Numbers
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Academic Costs
Living and Other Costs
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Approximate Total Cost
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Paying for University
since we know Money Doesnt Grow on Trees, what
next?
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Entrance Scholarships
Name Value Final
Admission The Western Scholarship of
Distinction 1500 85.0 - 89.9 The Western
Scholarship of Excellence 2000 90 and
above Continuing Admissions Scholarship 10,000
94 and above Science CAS
95 and above (2500/yr while maintaining at
least an 80 per year)
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Entrance Scholarships

• Final Average is calculated by Admissions
  Department
• Unfortunately, not able to be used as a payment
  or deferral toward your first installment of
  tuition grade finalization will not occur until
  after the tuition due date of August 1st, 2007
• Faculty of Music selects their own recipients
  for the Continuing Admissions Scholarship

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UWO Bursary

• Non-repayable funding given on the basis of
  demonstrated financial need of each individual
  student
• Range in value from 250 - 4000, and are applied
  toward the first installment of tuition fees
• Applications are now available, please apply at
  http//www.registrar.uwo.ca/FinancialServices/
  AdmissionBursaries.cfm

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Ontario Student Assistance Program (OSAP)

• Apply online at http//osap.gov.on.ca
• Apply and submit the web declarations early, for
  tuition deferral- no later than June 30th (6-8
  week processing time)
• Maximum funding for single student is 11,900

• 1st year automatic consideration for Millennium
  Ontario Access Grant (up to 2070)
• Loans remain interest free for duration of full
  time study

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Student Line of Credit

• Offered by all major banks/credit unions
• Range from 5000 - 15,000/yr
• A Co-signer is required
• Monthly interest payments required but only on
  the portion used
• Interest rates are approximately Prime 1-2

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Registered Education Savings Plans (RESP)

• Service Provider Standard Form can be dropped
  off or faxed to 519-850-2590. 5 fee for
  processing
• Service Provider Letter - 10 fee rush (2-3
  days) 5 regular processing (7-10 days). Order
  by phone, email or in person.
• Contact Natalia Magier SLB RM190
• 519-661-2111 EXT 84309
• nmagier2_at_uwo.ca
• Cannot use RESP funding to defer tuition fees
  past the due date

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Paying for University.
.and making your money last
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Financial Fitness
Are you Financially Fit?

• Is your son or daughter Financially Fit? Not
  sure? Thats OK, Western is here to help with
  their Financial Fitness training.
• Student Financial Services offers and provides
  the equipment to students seeking practical
  advise on budgeting, setting priorities and debt
  management so as to maximize their resources and
  minimize their expenses as it relates to their
  post-secondary career and beyond.
• Financial Fitness is just a click away
• _at_ http//www.financialfitness.uwo.ca
• The first and most important fitness step
  Budgeting!!!
• A budget will help in understanding where the
  money needs to go rather than where it went.

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Developing Your Own Budget
Projected Bank Balance at the Beginning of each
School term (A) Other Resources
(B) Parental Contribution Academic
Awards Part Time Emply___x___weeks Gov
t Income (CPP, Orphan Benefits) Family
Benefits OSAP Estimate Student Line of
Credit Bursary Other Income
(gifts/savings/RESP) TOTAL Resources (A)
(B)
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Determining Your Need
Education Related Costs Living on Campus,
including meal plan ________ Living off
Campus Rent _______x_______mnths/weeks Ut
ilities ______x______mnths/weeks Food
________x______mnths/weeks Phone/Cable/Net
____x______mnths/weeks Tuition and Fees
______ Books ______ Personal
_______x______mnths/weeks Clothing
_______x______mnths/weeks
Transportation ______x___mnths/weeks Landry
______x_______mnths/weeks Entertainment
_______ Other _______ Total Expenses
____________less Total Resources
___________FINANCIAL NEED
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Paying for University.
.your tuition and fees and Financial Services
Administration
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Tuition Payments

• First Installment due August 1, 2007 Second
  Installment January 7, 2008
• Deferment Charge of 50 for an installment plan
• Late Payment 105
• Fee bills are mailed within 10 business days of
  registration account balances can be checked
  online at www.registrar.uwo.ca
• Scholarships, RESP cannot be used to defer
  tuition
• OSAP Deferrals if OSAP is assessed and covers
  tuition, automatic deferral with no late fee
• Scholarship and Bursary funding are applied
  against the remaining tuition balance after the
  first installment is paid
• Some fees you may opt out of are refundable (ie
  Health Plan/Faculty Donation Fees)

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Financial Services Provided

• Personal Financial Aid Counselling Sessions
• Budgeting
• OSAP Loan Processing, Appeals
• Bursary Adjudication
• Loan Repayment
• Account Balance Administration
• Apts. may be booked by telephone at (519)
  661-2100 or in person through Rm. 190 SLB

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Whats on the Web
Entrance Scholarships www.registrar.uwo.ca/Financ
ialServices/AdmissionScholarships.cfm Admissions
Bursary www.registrar.uwo.ca/FinancialServices/Ad
missionBursaries.cfm OSAP Information http//osap
.gov.on.ca National Student Loans Service
Centre www.canlearn.ca Student Financial
Services http//www.registrar.uwo.ca
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Confidentiality at UWO
Parents are required to submit a Consent to
Release of Information form, concerning tuition
accounts and balances They are available through
Rm.190 SLB