Financing Your Education
St. Theresa Of Lisieux
Guidance Department
Updated: January, 2015
Your Education is one of the
Largest Investments You Will Make
University tuition fees for full-time students,
Physical and Life Science and Technology Programs in Canada
Province
2014-15
Undergraduate
Tuition
(per academic year)
Newfoundland and Labrador
$2,631
Prince Edward Island
$5,857
Nova Scotia
$6,440
New Brunswick
$6,324
Quebec
Ontario
Manitoba
$2,743
$7,539
$3,887
Saskatchewan
$6,659
Alberta
$5,730
British Columbia
$5,118
Source: Statistics Canada, Sept. 2014
Tuition Differs By Faculty
Faculty of Arts and Science
$7,065
Commerce
$16,784
Education
$5,625
Nursing
$7,117
Law School (1st Year)
$18,075
Medicine (1st Year)
$24,650
As of 2014-15
Besides Tuition Fees…. You need
somewhere to eat and live!
• Single Room and Meal Plan $12,737
• Double Room and Meal Plan $12,802
• Triple Room and Meal Plan $11,937
**taken from Queen’s University 2014-2015, for Undergraduate Students
How to Pay for All These Costs
• Personal Savings (RESP)
• Family Support (Savings Bonds, Personal
savings accounts, GIC’s)
• Student Loans (Ontario Student
Assistance Program)
• Scholarships/Bursaries
• Personal Loans
Program objective: to assist eligible students
who do not have the resources to meet the
costs of postsecondary education. The
intention is to promote equality of
opportunity for postsecondary studies by
providing financial assistance for
educational costs and basic living
expenses.
Applying for OSAP
There are two methods to apply:
• Paper application: 39 pages, available for
download online.
Or
• Online application
OSAP Deadlines
As long as you apply for OSAP within the
first 45 days of starting classes, you may
still receive funding for the ENTIRE study
period.
If you apply when there is less than 60 days
left in the study period, you will not be
eligible for any funding.
Canada Access Grants for Students from
Low-Income Families
Family Net Income Ceilings (2014 Loan Year)
Canada Access Grants for Students from Low-Income Families (3)
Number of dependent
children that parents have
(including applicant)
Parent’s Net Income
1
2
3
$36,555
$44,381
$50,337
By Completing an OSAP application, you will automatically be
considered to receive the Canada Access Grant
Scholarships and Bursaries
• a sum of money or other aid granted to a
student, because of merit, need, etc., to
pursue his or her studies in education.
• recipients may be determined by:
Academics, extra-curricular activities,
community involvement, leadership
experience, physical disabilities, ethnic
origins, religious affiliations, program of
study, essay submission, p/t employment
Scholarship Applications
• Some scholarships require a completed application form,
essay, reference letter, resume, and/or transcript.
• Some scholarships do not require an application. For
example, admission scholarships are generally guaranteed
for all applicants with an average >85% (or less).
• Some scholarships require Nomination by school principal
(1 – 3 candidates per school)
– Examples: U of T National Scholarship Program, Queen’s University
Chancellor Scholarship, or Loran Scholarship.
Admission Scholarships
• Awarded based on your final grade 12
average using your best SIX U or M marks
• Normally averages are rounded down.
For example, if your average is 83.8%, for
scholarship purposes it will be 83%
University Cut-off for Admission
Scholarships
• Ryerson University
–
–
–
–
80 – 84.9%
85% - 89.9%
90% - 94.9%
95% +
$500 x 4 yrs = $2,000
$1000 x 4 yrs = $4,000
$2000 x 4 yrs = $8,000
$4000 x 4 yrs = $16,000
University Cut-off for Admission
Scholarships
• York University
– 80% -84.9%
– 85% - 89.9%
– 90% -94.9%
– 95% +
$1,000
$1,500
$2,500
$3,500/year = $14,000
University Cut-off for Admission
Scholarships
• Western University
– 88% - 89.9%
– 90% - 94.9%
– 95% +
$1,000
$2,000
$2,500/year = $10,000
University Cut-off for Admission
Scholarships
• U of Toronto – Mississauga vs Scarborough
–
–
–
–
88 – 89.9%
90% - 91.9%
92% - 94.9%
95% +
$1,000
$1,500
$2,000
$3,000
$1,000
$1,500
$2,000
$3,000*
(renewable)
As with all OFFERS
of Admission or
Scholarships
Conditional on
FINAL MARKS
• Guidance Office: White E-INFO binder, Bulletin
Board in guidance office
• Guidance Webpage –
– ‘Financing Your Education’
– Scholarship Chart (updated regularly)
• Parent’s Workplace, Church, student (part/time)
employers
• University/College websites
• Internet sites: Electronic Info,
Another Website Worth a Visit
• Education Savings
• Finding Post Secondary Programs/Career
Planning
• Student Loans, Grants, & Scholarships
• After Post Secondary Education
• Continuing Education, Lifelong Learning
Miscellaneous
•
•
•
•
•
Research, Research, Research!!!
Apply, Apply, Apply!!!
Proof-read applications/materials
Meet deadlines
Choose referees (teachers, coaches,
employers) who know YOU well
• Give references plenty of time to complete their
piece. Provide them with a print-out about you.
• Start a collection of portfolio and reference now!