FUNDING POST-SECONDARY EDUCATION Toda day we wi e will pr provid ide e some e tip ips for r stude dents ts to hel elp p fun und d thei eir ed educ ucat ation! ion! However er, they should ld chec eck wit ith the sc e school hool they wil ill be at e atten endi ding g for r add ddit itio ional det detail ils
FU FUND NDING NG POST-SECOND SECONDAR ARY Y EDUCA UCATION TION • Entra trance nce Awar wards ds – Our deadli line ne was mid-Ma May y have your stude udent nt/s s contact ct the school l they y will be at attending nding for inform ormati ation n on fundi nding ng and deadlines nes Entra trance nce Scholar arsh ships ps – usua ually y based on high h school grades es with th no need to apply, , but • be s sure re to check! k! • OSAP – you’ve likely heard about the changes • In course se funding nding - Scholarships hips, Bursa sarie ries s and Awar wards ds, , Indi digeno enous us Stude udent nt Bursa sarie ries, s, Ontario ario First st Genera ral Bursar sary, , et etc
OSAP APPLICATIONS FOR 2019/20 ARE NOW AVAILABLE ON- LINE AT HTTPS://WWW.ONTARIO.CA/OSAP APPLY EARLY BUT REMEMBER MOST STUDENTS WILL REQUIRE THEIR PARENT’S OR SPOUSE’S 2018 INCOME TAX INFO NON-TAXABLE INCOME MUST BE DECLARED FOR OSAP PURPOSES BUT NOT PSSSP
WHA HAT IS OSA SAP? P?
WHA HAT IS OSA SAP? P??? A financial aid program that can make it easier for students and families to go to college or university Both loans (repayable) and grants (non- repayable) are available by applying on one on- line application There are less grants available this year as you likely have heard
WHA HAT IS OSA SAP? • OSAP includes: ▪ Grants, bursaries and scholarships = non-repayable aid (you keep) ▪ Loans = repayable aid (you pay back) Grant Loan s s
ELIGIBL IBLE E FOR OSA SAP? • To be eligible for OSAP, a student must be: ✓ A Canadian citizen, permanent resident or protected person ✓ An Ontario resident ✓ Currently attending or entering an OSAP-approved program and school ✓ Currently enrolled in or entering a certificate, degree or diploma program • You must meet all of these four criteria .
HOW IS OSAP AID DETERMINED? All llowab able e Expect Ex cted ed Calculat lculated ed minus inus equal als Educa cati tional onal Fin inanci ncial Fin inanci ncial Costs sts Contri tribu buti tion on Need ✓ Tuition & compulsory ✓ Student fees contribution ✓ Books & supplies ✓ Student, parental ✓ Equipment & spousal income ✓ Computer costs ✓ Student & ✓ Personal living spousal assets expenses ✓ Child care ✓ Travel
EXAMPLE OF HOW OSAP AID IS DETERMINED Fin inanci ncial Fin inanci ncial Educa cati tional onal Costs sts Need Contri tribu buti tion on $15,000 $12,000 $3,000
HOW MUCH MONEY CAN I GET FROM OSAP? • The amount of OSAP aid you qualify for is based on your calculated financial need. Maximum OSAP Assistance Levels for 2019/20 34-week program Weekly (2 school terms) Single dependent and Up to $400 Up to $13,600 independent students Married students and sole Up to $680 Up to $23,120 support parents Students studying outside of Up to $210 Up to $7,140 Canada *Amounts are based on both federal and provincial aid. **The Government of Canada provides $210/week in loans for all student types. (This is already included in the funding above.)
THE OSAP ESTIMATOR https tps://www.on onta tari rio.c .ca/pa page/osap sap-on onta tari rio-studen student-ass ssist stance nce-pr progra ram
HOW TO I APPLY FOR OSAP? • When stude udent nts s apply y for college or university ty thr hroug ugh h the college or university ty application centre (OCAS/OUAC), they will be directed to OSAP’s website, where they y can regist ster r and set et up their eir profile. • Registr strati tion n is free! e! Encourage urage your stude udents nts to Apply y early! ! Stude udent nts s typica picall lly y apply y right ht after r being • th is an o accepted ed to college or univer ersity sity but June 30 th offici cial al deadline ne date (to have OSAP funding nding in Septembe mber r when class sses es start)
ST STEPS S TO O APPLY FOR OR OSA OSAP 1 6 Complete your MSFAA online after Go to ontario.ca/osap . receiving the email from the 2 National Student Loans Service Click “Register” to create Centre three days after applying your profile. We’ll let you know when it’s time to apply. The Master Student Financial Assistance Agreement (MSFAA) is your lifetime loan agreement. Once you create an OSAP profile, you will Track the status of your application 7 be assigned an OSAP Access Number online, and learn how much money (OAN). you’ll get and when. You can even 3 Log in and click “start new app” do this from your phone! to fill out the application. 4 Gather all required documents. ( Closer to the start of the 19/20 academic year, you’ll be provided with a list of supporting documents you will need to provide) 5 Upload your documents online, or mail/deliver them to your financial aid office.
NOTABLE CHANGES FOR 2019/20
SELF-IDENTIFICATION
SELF-IDENTIFICATION Provi vide e a copy of ONE of the following ing doc ocumen ments: s: • Statu tus s Card • Band d membe mbersh ship ip car ard • Red d car ard • Confir irmation mation of band d funding (for exam ample le, PSSSP) • Memb mber ersh ship ip car ard from om a provi vincia ial l affil ilia iate e of the Congress ess of Ab Abor orig iginal inal Peoples les • Citizen izensh ship ip car ard issued ed by a Met etis is Natio ion of Canada ada gover erning ing memb mber er (ie. MNO) • Land d claim aim benef eficia iciary car ard • If they do not ot have e one of the offic icia ial l doc ocume ments ts listed ed abo bove, e, they may provi vide e an affida idavit it confir irmin ming their ir Indigen igenous ous iden entity ity, , inclu luding ding an expla lanat atio ion of why offic icia ial l doc ocume mentatio tation is not ot avail ailable ble. • NOTE TE: DNA NA test t resul sults s will ll not ot be accepted ed
SIX YEARS OUT OF HIGH SCHOOL = INDEPENDENT
INDEPENDENT FOR FEDERAL FUNDING AND DEPENDENT FOR PROVINCIAL FUNDING If a s stude udent nt has been out of high h school l for four r years, s, he/she she can apply ly for federa eral funding nding only witho thout ut including uding parents nts inf nfo. New this year, a s student udent must st be o out of high h school ol for six x years, s, be m marri ried d or have a c child d of his/he s/her r own to be c consi side dered red for provincia vincial funding ding witho thout ut parents nts income info.
YOU MUST ST REPORT PORT CHA HANG NGES ES Cha hanges nges tha hat t could uld affect ect your our curr rrent ent and d fu future ture loans: ans: • Loss or gain of emp mploymen yment Income come Cha hanges nges • Change ge in pay ra rate or h r hours • Change ge in parents ts income me • Change ge in spouses ses income ome Stat tatus us Cha hanges nges • Marriage, ge, Separat ation ion, Divor orce ce • Common mon-La Law, , Childr dren en • Changes ges must t be reported ed for yoursel self, f, your parents/ ts/spo spouse use /depen endent dents Cour ourse se Loa oad d and/ nd/or or Withd hdrawal als, s, transfer er credits ts, challen enge ge Progra ogram m Chang anges es exams ms
Comple ompleting ting You our r Ed Education ucation You u MUST mainta ntain n successf cessful ul academic mic progre gress ss while in school ol to avoid d disru srupti ption n to your stude udent nt loan. Failure ure to mainta ntain n a f full-ti time e course se load (or 40% for stude udents nts with h disa sabilities) es) and succe cess ssfu ful academic mic progress ress can result ult in the loss s of curre rent nt and/or or futur ture funding nding.
BURSAR ARY Y FOR STUDENTS NTS WI WITH DISAB ABILIT ILITIES IES Up to $20,000 is available to assist with accommodations related to a student’s disability – computers, tutors, note takers and computer equipment (Keep in mind with the federal election taking place in October this may remain at the current $10,000) Contact the Accessibility Services Office early to begin making plans for the fall
Feel free to contact us at 705-759-2554, ext. 2704 or email us at student.financial.assistance@saultcollege.ca Or contact the Financial Aid Office at the school your student will be attending
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