Presentation on theme: "POST SECONDARY FINANCIAL PLANNING WORKSHOP"— Presentation transcript:
1 POST SECONDARY FINANCIAL PLANNING WORKSHOP ST. Maximilian KolbeCHSPOST SECONDARY FINANCIAL PLANNING WORKSHOP
2 QUICK FACTS Average debt upon graduation $24K Youth Unemployment was 17% in 201136% ended their studies early for financial reasons48% of students could not attend without financial aid
3 Humber College Costs Tuition for a diploma or certificate $2,950 Tuition for a bachelor's degree $5,800Books $1,200Supplies $500Parking $545Public Transit $900Residence and regular meal plan $6,995- $9,175
4 McMaster University Costs McMaster University Costs *costs vary due to programs, type of residence and meal sizeMinimum*:Maximum*:Tuition $5,582Residence $3,805Meal Plan $2,500Textbooks $1,000Total $12,887Tuition $7,748Residence $6,110Meal Plan $3,300Textbooks $2,000Total $18,158
5 FINANCING OPTIONS POST SECONDARY Awardaward given for outstanding achievementfinancial awards are scholarships or bursaries and are non-repayableawards may be other than financialScholarshipfinancial assistance awarded on the basis of academic and/or other aptitude meritawarded by colleges, private companies, etc.not based on financial need and non -repayableBursary/Grant ( 30% Gov’t Tuition Grant )financial award given on basis of financial need ( $160K family inc.)criteria may also include academic achievementdocumentation for financial need may need to be provided (eg.OSAP)bursaries are non-repayable
6 FINANCING POST SECONDARY STUDY OSAPOntario Student Assistance Programstudent needs to apply for loan in Maygovernment loan which must be repaidPersonal Financial Resourcespart time work ie YOUR SAVINGS !loans, lines of credit,RESP ( Registered Education Savings Plan )family support
7 Scholarshipscanada.comCanada's most comprehensive scholarship portal. Search through an extensive database to find scholarships, student awards, bursaries and grants. You'll also find information about student loans, applications and budget planning.Registration is free, complete a detailed personal profile and check your regularly for scholarship updates
9 Studentawards.comStudentawards.com is a FREE scholarship search service devoted to helping high school seniors, university and college students find information on scholarships, bursaries, grants and other forms of financial assistance. They also offer unique scholarships to their online members that are only available on studentawards.com.Registration is free, complete a detailed personal profile and check your regularly for scholarship updates
11 Tips for Submitting Great Scholarship Applications Passion for the subject – apply awards you are truly interested in.Research – find out exactly what the scholarship is looking for.Clarity – be clear, concise (word limit), relevant info only and proofread.Discuss – not a resume, expand on your experiences and longer term goals.
12 Tips continuedStructure, Spelling & Grammar – proofread, use proper sentence/essay structure.References – use professionals (teachers, coaches, managers) be sure to inform them.Facebook – manage your personal on-line resources, you will likely be “Googled”.Follow Instructions – use a checklist to ensure you have submitted all required items as specified.Deadlines – don’t expect an extension ! Start early and submit on time.
13 COLLEGE & UNIVERSITY SCHOLARSHIPS 2 TYPES –Automatic & Application Required Automatic- mark based, no application needed. Examples: Trent: 90% or higher = Full Tuition Otttawa: = $1000 (x4), = $2000 (x4) = $3000 (x4), 95 %+ = $4000 (x4) York: = $500 (x4), = $1000 (x4) = $2000 (x4), 95 %+ = $3000 (x4)
14 UNIVERSITY/COLLEGE SCHOLARSHIPS (APPLICATION REQUIRED) STUDENTS MUST RESEARCH SPECIFIC CRITERIA REQUIRED FOR EACH SCHOLARSHIPSTUDENTS MUST APPLY FOR SCHOLARSHIPSCAREFULLY FOLLOW THE INSTRUCTIONS AND TIMELINES OUTLINEDOBTAIN DOCUMENTATION & REFERENCE LETTERS FROM THE SCHOOLSUBMIT THE APPLICATIONExample : Queen’s Chancellor’s Award: 90%+, creative & original thinking, proven leadership qualities, high school nomination required, 2 per school, due Dec 1 , 2012.* Note: some of these require school endorsements and limit the number of applicants per school.
15 SMK PROCESS FOR SCHOOL ENDORSED APPLICATIONS 1. Check s & bulletin board, listen for announcements regarding scholarships2. Complete a paper copy of the application and submit it to your counsellor by the specified deadline. ( this is prior to the actual scholarship deadline).3. Your application will be reviewed & ranked by Guidance and Admin.4. Candidates will then be notified.
16 Donor Based Scholarships Specific CriteriaAcademicCommunity ServiceLeadership ActivitiesCollege or University ApplicantsExample : Loran Awards : over 85 % (gr 9-11), extensive community service and school involvement, selected universities only, school endorsed ( due to Guidance Oct 9) or direct pool (Oct 25)
17 APPLYING FOR GENERAL SCHOLARSHIPS The following list will help you develop your ideasAwardsClubsCo-op jobsInternational exchangePart-time jobsProjectsScholastic achievementSchool associationsStudent governmentVolunteer work out of schoolObtain the necessary documentation from the schoolSubmit the applicationWhen applying for scholarships you need to write a letter to show you are the best candidate for the scholarshipBefore writing the letter, compile a list of all the activities you have been involvedAfter you have compiled your list, think about how your experiences during high school have contributed to your personal growthFollow instructions and timelines
18 Athletic Scholarships Do exist in CanadaMaximum of $3500 per yearMust have 80% averageAre determined by individual teams within each specific institutionContact the athletics department/coaches at the school you are considering
19 Scholarships: Not just for “Brainiacs” ! Generally you need good marks (80%) but also:1.Creativity & Leadership2.Volunteer work3. Athletics4. School Involvement5. Language, culture, where you live, where your parents work, your employer, your parish, and many more !!
20 THINGS TO DO REVIEW UNIVERSITY & COLLEGE COSTS REGISTER AT AND ATCHECK YOUR REGULARLYLISTEN TO /VIEW ANNOUNCEMENTSINVESTIGATE SCHOOL SPECIFIC AND AUTOMATIC SCHOLARSHIPS.OBSERVE ALL DEADLINESTALK TO YOUR GUIDANCE COUNSELLOR !
21 Other Websites– use EINFO’s scholarship search engine for Ontario Universities- follow links under “money matters”– OSAP website for application and calculator.
22 THANK YOU FIND THIS PRESENTATION AND OTHER RESOURCES AT ST. MAXMILIAN KOLBE CHS WEBSITE GUIDANCE PAGE