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Funding your Post-Secondary Education

Funding your Post-Secondary Education. A Kardish & Stefanec Production. Agenda. Introduction Scholarships Bursaries Grants Loans OSAP Resources/Advice to Help. Scholarships. A scholarship is a cash award or equivalent granted for educational expenses.

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Funding your Post-Secondary Education

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  1. Funding your Post-Secondary Education A Kardish & Stefanec Production

  2. Agenda • Introduction • Scholarships • Bursaries • Grants • Loans • OSAP • Resources/Advice to Help

  3. Scholarships • A scholarship is a cash award or equivalent granted for educational expenses. • Recipients are selected according to criteria established by the donor • Repayment is not required.

  4. Scholarships Cont… • There are different types of scholarships: • Internal Scholarships • Entrance (based on marks) • Merit (based on marks/other) External Scholarships • Based on a variety of different factors as chosen by the donor

  5. Bursaries • Bursaries are cash awards or equivalents that are based primarily on financial need (marks may also play a factor) • Repayment is NOT required

  6. Grants • Grants are cash awards or equivalent given to a student or potential student to help that person continue his/her studies. • Repayment is NOT required.

  7. Loans • Loans are money that is lent out to individuals and that MUST BE REPAID. • There is usually an extra cost of borrowing money, called interest, which must be paid in addition to the loan amount, called principal. • Ex. Student lines of credit, OSAP

  8. OSAP • OSAP is the Ontario Student Assistance Program • OSAP is a loan by the Ontario Government given to students based on their financial needs and NO interest is charged while the student earns their diploma/degree(s), and no principal repayment is required as long as they are a full time student.

  9. OSAP Cont… • Through OSAP there are also parts that include grants and scholarships.(Queen Elizabeth II Aiming for the Top Scholarship) • The OSAP calculator gives a rough estimate as to how much money will be lent to you. • Apply as early as possible, but you cannot submit it until you accept an offer from college/university • www.osap.gov.on.ca

  10. Resources to Help You • www.scholarshipscanada.com • www.studentawards.com • www.canlearn.net • University websites • Guidance Binder • Make a Guidance Appointment!

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