1. Program Overview Student Financial Services Division Student Financial Services Division Department of Education Department of Education

2. Making the right choices planning and research Paying for post secondary who pays? It is a loan debt Key Messages

3. Online or paper- 10 days versus 20 days Supporting documentation will be required Determines if you qualify and the amount available Apply early - why? Volume Informed before the start of post secondary Applying for a loan

4. What happens when I apply? Rob applies online on June 10th Rob downloads 4 forms the same day Rob mails the original forms the same day Rob finds out his loan amount on June 22 Loan papers are at school on the first day of classes Canada Revenue Agency Authorization Student’s Declaration Parent’s Declaration Consent to Release Information Online or by mail

5. What money do I need?What money do I have? COSTS RESOURCES This is where Student Financial Services begins Rob’s application

6. COSTS Tuition $3,500 Books/Computer $750 Other Fees $400 Living Allowance –(17 weeks x $200) $3,400 Transportation $180 RESOURCES $8,230 How it works

7. COSTS Tuition $ 3,500 Books/Computer $750 Other Fees $400 Living Allowance –(17 weeks x $200) $3,400 Transportation $180 RESOURCES Parental Contribution $8,230 Example

8. COSTS Tuition $3,500 Books/Computer $750 Other Fees $400 Living Allowance –(17 weeks x $200) $3,400 Transportation $180 RESOURCES Parental Contribution $799 Pre-study Period $8,230 Example

9. Pre-study Period Rob works for the 9 weeks that he’s off for the summer. Gross income ($240 per week) $2,160 Less taxes -$146 Less weekly living allowance ($92 x 9 weeks) -$828 Total $1,186 Pre-study contribution: $1,186x 80% = $949 How it works

10. COSTS Tuition $3,500 Books/Computer $750 Other Fees $400 Living Allowance –(17 weeks x $200) $3,400 Transportation $180 RESOURCES Parental Contribution $799 Pre-study Period $949 Study Period $0 Scholarship $8,230 Example

11. Scholarships Rob has been awarded a $1,900 scholarship for the first semester. Scholarship amount $1,900 Less yearly exemption ($1,800)-$1,800 Amount left over $100 Scholarship Contribution = $100 How it works

12. COSTS Tuition $3,500 Books/Computer $750 Other Fees $400 Living Allowance –(17 weeks x $200) $3,400 Transportation $180 RESOURCES Parental Contribution $799 Pre-study Period $949 Study Period $0 Scholarship $100 RESP $0 $8,230 $1,848 Example

13. Costs – Resources = Need $8,230 - $1,848 = $6,382 – If negative - does not qualify – If positive - does qualify (up to maximum limits) How it works

14. Federal Grants –Canada Student Grant Program Grant for Low-Income ($58 per week) Grant for Middle-Income ($23 per week) Grant for Students with Dependants ($47 per week per dependant) Grant for Students with Permanent Disabilities ($2000 per year) Grant for Services and Equipment for Students with Permanent Disabilities (separate application required) Available Assistance

15. Canada Student Loan (CSL) Newfoundland and Labrador Student Loan (PSL) Up-Front Provincial Grant (ICF must be submitted) $210 per week $60 per week $80 per week Maximum assistance is $350 per week Available Assistance

16. Costs $8,230 (minus) Resources $1,878 (equals) Need $6,352 Loans/Grant = $350 x 17weeks $5,950 Total Unmet Need $402 Rob still needs $402 Available Assistance

17. Photo I.D. S.I.N. Card Banking Information Student needs: Getting your money

18. Course Load Requirements: –60% for federal portion –80 % for provincial portion –Exceptional circumstances considered If unsuccessful: –first time - probation –second time - suspended for 12 months –third time - suspended for 36 months Other things to consider

19. Questions? Call (709)729-5849 1-888-657-0800(toll free) Fax 709-729-2298 Email studentaid@gov.nl.ca Website www.gov.nl.ca/studentaid