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Aug 24, 2023 •297 likes •567 views

S TUDENT F INANCIAL S ERVICES Student Loans 2014-2015 Academic Year H OW M UCH D O Y OU N EED ? Costs - Resources = Need Tuition Summer Earnings You may or may Fees Savings not receive Parents Contribution Books what you ask

  1. S TUDENT F INANCIAL S ERVICES Student Loans 2014-2015 Academic Year

  2. H OW M UCH D O Y OU N EED ? Costs - Resources = Need Tuition Summer Earnings You may or may Fees Savings not receive Parent’s Contribution Books what you ask Living Allowance Scholarships for. Travel Allowance Part-time Income Computer ($300) www.studentloan.pe.ca

  3. Canada Student Grant for Students With Permanent Disabilities  $2,000 in Grant in two disbursements - $1000 in September and $1000 in January www.studentloan.pe.ca  $8,000 for services and equipment (separate application required)  Tutors / Note Takers  Computer  Software

  4. UPEI AND H OLLAND C OLLEGE T UITION F EES  Each UPEI Course $536 www.studentloan.pe.ca  Tuition UPEI 1Year $5,360 ( 5 Courses Per Semester)  Fees UPEI 1 Year $950-1,500  TOTAL UPEI (approx.) $6,310-$6,860  Holland College 1 Year (approx.) $3,500 - $5,750 Plus applicable fees

  5. P RE - STUDY PERIOD CONTRIBUTION  Most of you should make approximately $3,000 this www.studentloan.pe.ca summer  $10 per hour X 30 hours = $300 per week  $300 X 10 weeks = $3,000  The Minimum Student Contribution is $1,100.  Basically you have to save HALF of what you make .

  6. O THER C OSTS  Books and Supplies $1,400 www.studentloan.pe.ca  Computer Costs $300  Travel Allowance $250 (in PEI)

  7. L IVING A LLOWANCES – P ER M ONTH PE NL NS NB QC ON MB SK AB BC Single Student $467 $425 $460 $446 $464 $476 $483 $477 $515 $491 Living at Home Single Student Living away from $936 $928 $988 $930 $988 $1145 $1048 $1100 $1079 $1178 www.studentloan.pe.ca Home Single Parent (not including $1212 $1242 $1308 $1245 $1254 $1483 $1233 $1479 $1338 $1500 dependent) Married Student and Spouse $1861 $1851 $1979 $1853 $1798 $2192 $1950 $2143 $2079 $2328 (not including dependent) Each Dependent $483 $428 $510 $468 $509 $609 $565 $508 $566 $629 • If your home address is within 40km of school you will be assessed as living at home

  8. S TUDY P ERIOD I NFORMATION  Wages ($110 per week is forgiven) www.studentloan.pe.ca  Scholarships (the first $1,800 doesn’t count)  RESP/Trust Fund (divide by the length of program upon request)  Pension (if receiving parent’s CPP or other)  Investments (line 120 and 121 of taxes)

  9. L ET ’ S WORK THIS OUT TOGETHER  Wages @ $110 x weeks of study www.studentloan.pe.ca  UPEI is 34 weeks$3,740  HC is 37 weeks $4,070  Anything over this is considered extra and should be almost entirely used for educational expenses.

  10. ...S TILL W ORKING IT O UT  Scholarships www.studentloan.pe.ca  First $1,800 doesn’t count. The rest is dollar for dollar.  Trust Fund - divide total in fund by number of years of study. (Substituted dollar for dollar for the Parental Contribution)  CPP approximately $230 a month

  11. www.studentloan.pe.ca

  12. P ARENTAL C ONTRIBUTION  Contribution is based on family size, income level, and number of children attending post-secondary institutions (see handout).  RESP/Trust Fund is substituted for all or a portion of the parental contribution (depending on amount). www.studentloan.pe.ca

  13. O THER R ESOURCES G EORGE C OLES B URSARY  $2,200 for UPEI students  $1,200 - $2,200 for Holland College Students (depending on tuition)  Must be an Island student  Must be attending classes full-time in both semesters  No application www.studentloan.pe.ca

  14. I SLAND S KILLS A WARD H OLLAND C OLLEGE  $1,000 for the Island Skills Award  Must be full time in both semesters  Must be an Island student  No application www.studentloan.pe.ca

  15. F IGURING IT OUT COSTS:  Tuition and Fees $ ________ Books and Supplies $ ________ Living Allowance (from worksheet) $ ________ Return Travel (PEI $250) $ ________ Other Costs $ ________ TOTAL COSTS $ ________ www.studentloan.pe.ca (Use these figures to complete section 1200 page A-5) RESOURCES:  Student Contribution (from worksheet page G-10) $ _______ Parent Contribution (from worksheet page G-11) $ _______ Part-Time Income while studying $ _______ Other Income (CPP, Pension, EI) $ _______ Savings $ _______ Investments or Educational Trust Fund $ _______ Awards, Scholarships, Bursaries $ _______ TOTAL RESOURCES $ ________

  16. H OW M UCH T O R EQUEST ?  Total Educational Costs  $ www.studentloan.pe.ca  Minus Total Financial Resources  $  Total Amount of Student Loan Requested  $_________________

  17. IMPORTANT DEADLINE DATE 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

  18. H OW DO I A PPLY ?  Online starting June 1 st . The earlier the better!  July 15 th is the magic date to ensure you loan is processed for your Fall start. www.studentloan.pe.ca www.studentloan.pe.ca

  19. www.studentloan.pe.ca

  20. I MPORTANT I NFORMATION  Make sure the information you give us is as accurate as possible (avoid over-awards)  If your student status, address, or employment situation changes, YOU MUST NOTIFY US  It is up to the student to keep informed of changes to our grants and loan programs  Provide your complete mailing address and current email address www.studentloan.pe.ca

  21. H OW TO R EACH U S In Person: Atlantic Technology Center 2 nd Floor, Suite 212 Above HOT 105.5 and Ocean 100.3 www.studentloan.pe.ca By Mail: Student Financial Services PO Box 2000 Charlottetown, PE C1A 7N8 Email: studentloan@gov.pe.ca Phone (902) 368-4640 Fax (902) 368-6144

  22. Master Student Financial Assistance Agreement (MSFAA) Effective for the ‘13/14 school year all students are required to complete the MSFAA. For most students it will be a one time task. The MSFAA is a federal requirement in order to receive Canada www.studentloan.pe.ca Student Loans and Grants. Upon a positive student aid assessment, the student will be notified by email to login to their student aid account and print off the MSFAA. The form must be signed in pen and presented to a Designated Canada Postal Outlet with two pieces of government ID’s one being Social Insurance Card the other being a government photo ID. Federal loans are electronic and are confirmed by post secondary schools in their E-Cert Portal.

  23. Provincial Student Loans (PSL) PEI Student Financial Services oversees two separate and distinct loans; Canada Student Loans (CSL) and Provincial Student Loans (PSL). www.studentloan.pe.ca PSL is only issued to eligible students based upon need and only after the receipt of a Pre-Study Report (PSR) which includes ROE or letter from employer and must be received by the deadline, six weeks prior to end date of studies. PSL is currently a paper based loan and must be completed timely and in good form to be received and processed by Edulinx-PEI (Service provider hired by PEI to manage provincial loans).

  24. www.studentloan.pe.ca THANK YOU! www.studentloan.pe.ca studentloan@gov.pe.ca

  25. www.studentloan.pe.ca https://testmoz.com/304122#admin knight

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