Funding Your Post Secondary Education Patrick Bennett Financial Aid & Awards April 29 th, 2013

Student Financial Aid Resources Government Programs – OSAP Commercial Banks – Student Lines of Credit Employment Earnings Awards, Scholarships & Bursaries

Ontario Student Assistance Program

OSAP To assist eligible students who do not have the resources to meet the costs of post-secondary education To supplement (not to replace) the financial resources that you and your family are expected to contribute OSAP is a combination of loans and grants.

Who is Eligible? Canadian Citizen, Permanent Resident or Protected Person Ontario Resident Taking an OSAP approved program (course load requirements. Have financial need

Eligibility Issues Overpayments and Income Variance Academic Progress requirements Previous default and loan rehabilitation Have previously filed for bankruptcy or a consolidation agreement AND have OSAP as a creditor OR if OSAP funds would be seized to repay debts. If you are a resident of another province You are in receipt of government assistance that covers your post- secondary costs You are in Stage 2 of the Repayment Assistance Program. You have adequate resources to cover your costs.

Expected Costs of Education (tuition, books, living expenses) Minus Expected Family Contribution Equals Your OSAP Assessment (up to program maximums)

OSAP Apply on-line at

OSAP OSAP Access Number: a unique identifier to allow you to access your OSAP profile. To re-set your password, or if you have forgotten your OAN, bring your government-issued photo ID (Driver’s License, Passport, Health Card) & Social Insurance Card to the Financial Aid Office.

OSAP Application Section A: Personal Information (Name, Address, Contact Information, Student ID, SIN, OEN, Disability etc.) Section B: Your status (Dependent vs. Independent) Section C: Residency Information Section D: Information on School & Program Section E: Assets (Car, Savings,) Section F: Income (2012 income, pre-study period, study period estimates) Section G: Information on your children, if applicable Section H: Information on you parents (2012 income, Social Insurance Numbers) Section I: Information on spouse, if applicable Section J – L: Consideration for specialized grants Section N – Q: Signature pages

Family Breakdowns Exceptional Expenses Estimated Income Lack of Employment in Pre-Study Period Value of your vehicle Etc.

How will I get my OSAP?

Ask your Financial Aid Office! If you don’t think you will have enough money to pay for school, Ask your Financial Aid Office!

Repayment Repayment starts six months after the end of your studies. Interest starts to accumulate immediately on Federal portion of the loans. Repayment Assistance Program

Student Line of Credit

Competitive Interest Rates Pay interest while in school Need a co-signature Grant Eligibility

Employment Income 1. Approximately 50% of students work while studying hours a week 3. Related to your program 4. Work-Study Program

Scholarships, Awards, and Bursaries

Awards, Scholarships & Bursaries Financial Assistance Web Pages ( Your Guidance Office Studentawards.com Scholarshipscanada.com

Common Financial Aid Programs Student Assistance Bursary Urgent Need Bursary Entrance Award (Degree & Diploma) In-Course Scholarship

BSWD / CSG-PDSE First Generation Bursary Aboriginal Post-Secondary Education & Training Bursary (APSET) Ontario Student Opportunity Grant (OSOG) Ontario Tuition Grant (ontario.ca/30off) Student Access Guarantee (SAG)

Patrick Bennett Manager, Financial Aid & Awards Conestoga College