1. FINANCIAL RESOURCES PRESENTATION Student Financial Services

2. Key Points www.studentloan.pe.ca  The Basics – Who can apply, eligibility, what courses or programs are eligible for funding, Part-Time vs. Full-Time  Two Loans – One Application  Canada Student Grants  Resources – scholarships, bursaries, RESP’s, etc.  How to apply  Repayment  The Basics – Who can apply, eligibility, what courses or programs are eligible for funding, Part-Time vs. Full-Time  Two Loans – One Application  Canada Student Grants  Resources – scholarships, bursaries, RESP’s, etc.  How to apply  Repayment

3. Who can apply? Part-Time or Full-Time? www.studentloan.pe.ca Student Loan Basics

4. Can I apply for a Student Loan? www.studentloan.pe.ca We encourage all students to apply for a student loan – regardless of their family income. There is no “income cut-off” for student loans. As long as you meet the basic eligibility requirements below – feel free to apply! Canadian Citizen or Permanent Resident; PEI Resident; Enrolled in a post-secondary degree, diploma, or certificate program at a designated post-secondary educational institution. We encourage all students to apply for a student loan – regardless of their family income. There is no “income cut-off” for student loans. As long as you meet the basic eligibility requirements below – feel free to apply! Canadian Citizen or Permanent Resident; PEI Resident; Enrolled in a post-secondary degree, diploma, or certificate program at a designated post-secondary educational institution.

5. Full-Time Part-Time www.studentloan.pe.ca Enrolled in at least 60% of a full course load Course or program length of 12 weeks or more Attending a course of program of less than 12 weeks in length on a full- time basis Enrolled in 20-59% of a full course load in a course or program with a length of 12 weeks or more Am I a Full-time or a Part-Time Student?

6. Canada Student Loan (CSL) Provincial Student Loan (PSL) www.studentloan.pe.ca Two Loans – One Application

7. Canada Student Loan Maximum Federal loan per traditional university/college school year: $7,140 Maximum Provincial Loan per traditional university/college school year: $5,950 MAX LOAN: $13,090 Funding of up to $210 per week of study Disbursed during the 1 st semester of your program Repayment begins 6 months after your end date of study Interest charged on balance beginning the day after your end date of study (currently 5.5%) Funding provided by the Canada Student Loans Program (CSLP) www.studentloan.pe.ca

8. Provincial Student Loan Funding of up to $175 per week of study (beginning 2016-17) Disbursed during the 2 nd half of your program Repayment to begin 1 year after your end date of study Provincial Student Loans have 0% interest if kept in good standing Funding disbursed by Edulinx PEI www.studentloan.pe.ca Maximum Federal loan per traditional university/college school year: $7,140 Maximum Provincial Loan per traditional university/college school year: $5,950 MAX LOAN: $13,090

9. CSG for Low-Income Families CSG for Middle-Income Families CSG for Students with Dependents www.studentloan.pe.ca Canada Student Grants

10. www.studentloan.pe.ca Low Income Grant*- Eligible students receive $375 per month of full- time studies. Middle Income Grant* - Eligible students receive $150 per month of full- time studies. Dependent Grant – Eligible students having dependents under the age of 12. A grant of $200 per dependant is available for each month of full-time post-secondary studies if family income is below the low-income threshold. *Program of study must qualify. Needs to be at least two years and at Certificate/Diploma/ Undergraduate level. Grant in two disbursements – e.g. $3,000 = $1,500 in September and $1,500 in January for a two semester 34 week program. *Subject to parliamentary approval Low Income Grant*- Eligible students receive $375 per month of full- time studies. Middle Income Grant* - Eligible students receive $150 per month of full- time studies. Dependent Grant – Eligible students having dependents under the age of 12. A grant of $200 per dependant is available for each month of full-time post-secondary studies if family income is below the low-income threshold. *Program of study must qualify. Needs to be at least two years and at Certificate/Diploma/ Undergraduate level. Grant in two disbursements – e.g. $3,000 = $1,500 in September and $1,500 in January for a two semester 34 week program. *Subject to parliamentary approval Canada Student Grant for Students from Low, Middle Income Families and/or with Dependents

11. www.studentloan.pe.ca $2,000 in Grant in two disbursements - $1,000 in September and $1,000 in January Up to $8,000 for services and equipment (separate application required) Tutors / Note Takers Computer Software Students must provide proof of their permanent disability in the form of: a medical certificate or a psycho-educational assessment. $2,000 in Grant in two disbursements - $1,000 in September and $1,000 in January Up to $8,000 for services and equipment (separate application required) Tutors / Note Takers Computer Software Students must provide proof of their permanent disability in the form of: a medical certificate or a psycho-educational assessment. Canada Student Grant for Students With Permanent Disabilities

12. Bursaries for eligible students attending UPEI, HC, MCC, or CA www.studentloan.pe.ca Provincial Bursaries

13. George Coles and Island Student Awards UPEI and Maritime Christian College No application! Funds are credited directly to your student account! Total of available awards for a 4 year under-graduated degree is $5200 (almost 1 full year of tuition) George Coles Award (1 st Year)* $2,200 Island Student Awards 2 nd Year - $400 3 rd Year - $600 George Coles Graduate Award $2000 *1 st time 1 st year student in full-time study Graduate of an Island High School or a PEI Resident (as per student loan criteria) Full-Time is considered 3 credit courses or 2o hours of instruction per week for 24 continuous Weeks (minimum) www.studentloan.pe.ca

14. George Coles and Island Skills Award Holland College and Collège Acadie No application! Funds are credited directly to your student account! Awards are determined based on your tuition amount Total Awards for a 2 year program up to $4,200 George Coles and Island Skills Award 1 st Year Tuition up to $4,899 = $2,200 Award Tuition from $4,900-$5,899 = $2,650 Award Tuition of $5,900 and up = $3,200 Award Island Skills Award (2 nd Year) $1,000 The George Coles Award is awarded to 1 st time 1 st year post-secondary students. Enrolled Full-Time (20 instructional hours per week) for at least 24 consecutive weeks Graduates of a PEI high school or PEI Resident (as defined by student loan criteria) www.studentloan.pe.ca

15. What qualifies as a financial resource? How much am I and my parent(s) expected to contribute? www.studentloan.pe.ca Financial Resources

16. How is your financial need calculated? Costs-Resources=Need Tuition Fees Books Living Allowance Travel Allowance Pre-Study Contribution Savings Parental Contribution Scholarships Up to the Maximum Allowable for your Program www.studentloan.pe.ca

17. Pre-study Period Student Contribution Students coming from high school, the pre-study period is 10 weeks i.e. late June to September. The Pre-Study Period can vary but will not exceed 4 months (18 weeks i.e. May to Sept). Minimum contribution expected from high school graduates based on 10 weeks is $1,100. Expected contributions could be higher depending on your actual earnings and the number of weeks available for full time employment. www.studentloan.pe.ca

18. Study Period Information www.studentloan.pe.ca Wages and EI - The first $110 per week is not used in your assessment. What is earned above that is a resources that will be used to calculate your assessment Scholarships, Bursaries and Awards (the first $1,800 is not counted) Tuition Waivers are deducted from the tuition costs reported by your school Investments (line 120 and 121 of taxes) Wages and EI - The first $110 per week is not used in your assessment. What is earned above that is a resources that will be used to calculate your assessment Scholarships, Bursaries and Awards (the first $1,800 is not counted) Tuition Waivers are deducted from the tuition costs reported by your school Investments (line 120 and 121 of taxes)

19. Parental Contribution If you are a dependent student your parents may be expected to make a contribution toward the cost of your education. An expected parental contribution will be based on your family’s size, level of income and the number of children attending a post-secondary institution.

20. Parental Contribution - Examples www.studentloan.pe.ca Family Size$25,000$45,000$77,500$100,000 2$0$1.95$101$225 3$0 $45$150 4$0 $22$100 5$0 $14$63 The amount show above is the approximate weekly contribution amount 3 person family could be 2 parents and 1 child or 2 children and 1 parent The parental contribution amount is per week of study 4 person household has $0 contribution until income reaches approximately $65,000

21. Appeals www.studentloan.pe.ca Parents can appeal the parental contribution portion of the student loan assessment results. Students and parents can appeal for eligible expenses incurred during the pre-study period. But all students will be assessed a minimum student contribution – unless you were in school full time or were not able to find work (proof required). Parents of students can appeal their reported income if they will be earning at least 5% less than they did the year before. A list of appealable expenses is listed on the Appeal Form available on our website

22. How to Apply – Full-Time www.studentloan.pe.ca Before logging on to our website have the following documents at hand: 2015 Income Tax Return (both yours and your parent(s)) Program information – educational institution, course or program name, location, study dates Amount of your RESP, Awards, Bursaries, etc. Amount of funding you are requesting

23. How to Apply – Full-time www.studentloan.pe.ca Visit our website at www.studentloan.pe.ca.www.studentloan.pe.ca Click “Apply for a Student Loan”. Create an account or log-in to your existing account. Follow the prompts to begin the application. Fill in as much information as you can. The application will save your progress up to the last complete page, so if you need to exit the application before you complete it; don’t worry. Before clicking the “submit” button be sure to print off your tax consent and the list of any other documentation you need to send in.

24. www.studentloan.pe.ca ● Available for programs or courses of less than 12 weeks in length or when taking less than 60% of a full course load for programs and courses of 12 weeks or more. ● Application is a paper application (no online option at this time) available on our website. ● When submitting your application include your 2015 notice of assessment, and a copy of the health card for any dependent children in your care. ● For students whose income is in under the low-income threshold they are eligible for up to $1,800 in grant funding each loan year (Aug 1 to Sept 1). ● Applications should be received in our office no later than 3 weeks before your end date of study. Canada Student Loans and Grant for Part- Time Studies

25. Canada Student Loan (CSL) Provincial Student Loan (PSL) www.studentloan.pe.ca National Student Loan Service Centre 1-888-415-4514 Edulinx PEI 1-877-560-1389 Repayment

26. www.studentloan.pe.ca Completed applications must be submitted by July 15 th To ensure processing for September. It can take up to 4-6 weeks to process your application November 18, 2016 for full year funding assistance March 17, 2017 for Second Semester funding assistance Important Deadline Dates

27. Important Information Make sure the information you provide us is as accurate as possible. If your student status, address, or employment situation changes, please notify our office ASAP. Provide your complete mailing address and current email address. All communication from Student Financial Services is via E-mail. Please add our email address to your contacts to ensure you will receive all correspondence. Check your junk mail! Log in to your Student Loan myPATH account on a regular basis. All notices, document requirements, assessment results, etc. will be listed in your myPath. Deadline dates are strictly enforced. www.studentloan.pe.ca

28. How to Reach Us www.studentloan.pe.ca In Person: 176 Great George St. Atlantic Technology Center 2 nd Floor, Suite 212 Above HOT 105.5 and Ocean 100.3 By Mail: Student Financial Services PO Box 2000 Charlottetown, PE C1A 7N8 Email: studentloan@gov.pe.castudentloan@gov.pe.ca Phone(902) 368-4640Fax (902) 368-6144

29. Websites and Contacts www.studentloan.pe.ca National Student Loan Service Centre: Phone 1-888-815-4514 Canada Student Loan Webpage http://www.canlearn.ca/eng/index.shtml RPAP Information on website Edulinx –PEI: Phone1-877-560-1389 Website https://pei.edulinx.ca/Eng/index.aspx COE and Interest Relief Forms

30. www.studentloan.pe.ca THANK YOU!