Financing Your Education

1. Financing Your Education 2014 – 2015 Presentation

2. FINANCING YOUR EDUCATION - AGENDA • Welcome and introductions • Financial support available for students • 30% Off Ontario Tuition • Ontario Student Assistance Program (OSAP) • Government issued bursaries and financial assistance • Tuition set aside bursaries • Awards, Scholarships and Bursaries

3. FINANCIAL SUPPORT AVAILABLE FOR STUDENTS There are various financial supports available for students: • Federal and Provincial Government Issued Financial Assistance • 30% Off Ontario Tuition • Ontario Student Assistance Program (OSAP) - grants and loans • Ontario Access Grants • Ministry Supported Bursaries • Tuition Set Aside Financial Assistance • Bursaries, Campus Employment Program, Help Funds • Awards, Scholarships and Bursaries

4. 30% OFF ONTARIO TUITION • Money you don’t have to repay • Designed for students entering a public college or university program from high school or within four years of graduating from high school. • The 30% Off Ontario Tuition provides: • Up to $1680 a year for University and College Degree students • Up to $770 a year for College Diploma and Certificate Students

5. 30% OFF ONTARIO TUITION - ELIGIBILITY • You’re a full-time student at a public college or university in Ontario • It’s been less than four years since you left high school • You’re in a program that you can apply to directly from high school • You’re a resident of Ontario • Your parents’ gross income is $160,000 or less • To apply, go to http://osap.gov.on.ca

6. ONTARIO STUDENT ASSISTANCE PROGRAM (OSAP)LOANS AND GRANTS • Students complete an application, to the Ministry of Training, Colleges and Universities, to be considered for an OSAP loan or grant • OSAP loans and grants are approved by the Ministry of Training, Colleges and Universities • Colleges and Universities administer OSAP for the Ministry • There are specific eligibility requirements and expectations for students applying for OSAP support

7. UNDERSTANDING OSAP Applicants are assessed for funding to cover: • Tuition and compulsory fees • Eligible book costs • Living allowance (at home or away from home) • Local travel costs (based on the value of a monthly bus pass) Contributions to cover some expenses may be expected from: • Summer work and anticipated study period income • Parental support • Government income (e.g. disability support, Canada Pension, etc.) • Assets (e.g. vehicle, investment income, etc.)  Continued…..

8. UNDERSTANDING OSAP Total eligible expenses minus your contributions equals your OSAP entitlement. OSAP funds are a combination of federal and provincial dollars − • Canada Student Loans (CSL) • Ontario Student Loans (OSL) • Canada Student Grants – Permanent Disability (CAG-PD) • Canada Student Grants – Low Income Family (CAG-LI) • Canada Student Grants – Middle Income Family (CAG-MI) • Canada Student Grants for Dependents (CSG-D) • Ontario Access Grants for Crown Wards (OAG-CW) • Part Time Canada Student Loans (PTCSL)

9. OSAP ELIGIBILITY REQUIREMENTS • Submitting a complete application is important to prevent your application from being delayed or denied. • You must be a Canadian Citizen, Permanent Resident or have Protected Person status. • Permanent Residents must provide a photocopy of both sides of their Permanent Residence card. • Protected Persons must provide a photocopy of a “Protected Persons Status Document”. Applicants for OSAP should apply for this document as early as possible because applications take a while to process. • There are also residency requirements for some loans. • Canada Student Loan – In addition to the above requirements, you must be living in Canada on your study period start date. • Ontario Student Loan – In addition to the above requirements, you must live in Ontario for twelve consecutive months prior to the start of your classes.

10. HOW TO APPLY FOR OSAP It is recommended that you direct funds in your OSAP application to cover your outstanding tuition. The amount of fees owing for the semester can be sent to the College on your behalf by the National Student Loans Service Centre. • Have your Ontario Access Number (OAN) and Social Insurance Number and all required items from the OSAP checklist. • Sign on to http://osap.gov.on.ca. (You may find it useful to print off and complete a hard copy of the application form prior to completing the on-line application.) • If you choose the email option when you submit your application, all communication will come to you via email; otherwise it will come by Canada Post. • After completing the on-line application form, click “submit” for the application to be processed. Continued…..

11. HOW TO APPLY FOR OSAP Your submitted application will generate: • Master Student Financial Assistance Agreement (MSFAA) • A lifetime loan agreement for the duration of your program if you are in full-time post-secondary studies • Take the MSFAA to a designated Canada Post Outlet with identification (Social Insurance Card & a Valid Government Photo Identification Card) • Banking information must be provided to Canada Post • The MSFAA agreement is not submitted at the Financial Assistance Office at the College Continued…..

12. HOW TO APPLY FOR OSAP Your submitted application will generate: • Signature pages for yourself/parents/spouse • Print and sign (in black ink) all required areas for each requested individual. • These signature pages must be submitted to the Financial Assistance Office/Student Services Office at your campus • List of required supporting documentation • If additional documentation is requested to finalize your OSAP application, you can provide these documents to the Financial Assistance Office/Student Services Office at your campus • Photocopy all required documentation and keep a copy for your records.

13. HOW YOU WILL RECEIVE YOUR FUNDS • Make sure that your MFSAA is processed at a Canada Post Outlet with your banking information. • Mohawk College will confirm enrollment if you are registered in full-time studies with a 60% course load (40% if you have a registered permanent disability). • Your OSAP funding will be deposited into your bank account at the start of your study period. Continued…

14. HOW YOU WILL RECEIVE YOUR FUNDS • Funds will be released at the beginning of your study period, 60% for the 1st semester and 40% for the 2nd semester will be issued. • You are responsible for ensuring your tuition is paid. Check your Mocomotion student account to find out if you have outstanding fees or visit a Student Services Office. • If your registration status changes, you need to contact the Financial Assistance Office at C102-The Square, Fennell Campus.

15. REMEMBER TO: • Complete your full-time program registration in order for the Financial Assistance Office to approve release of your funding. • Advise the Financial Assistance staff of changes to your income, increases and decreases. Your income is verified with Revenue Canada and you do not want to be in an overpayment situation. • Pay your tuition balance owing on your current semester by having it deducted from your OSAP. You can give approval on your application for OSAP prior to submitting. • Check your Mohawk College student account on Mocomotion or visit Student Services at any college campus within four weeks to verify your fees have been paid in full. You are responsible for ensuring your tuition is paid in full each semester.

16. RESPONSIBILITIES OF A LOAN RECIPIENT If you are not receiving OSAP for the current year, your loans will remain non-repayable and interest-free while you are a full-time student at College or University if you take the right steps. • Every semester, you need to let the National Student Loans Service Centre know that you are a registered full-time student. • complete a “Confirmation of Interest-Free Status” form, bring it to the Square, Fennell Campus or the Student Services Office at your campus and staff will advise the Loans Centre. (Co-op placements also qualify as full-time study.) Continued…

17. RESPONSIBILITIES OF A LOAN RECIPIENT • Between academic terms, your federal (but not the provincial) loan will accrue interest. If you are off for less than six months, you do not have to make payments on your loan during that time. Once you are off school for more than six months, you will be expected to start repaying your loan. • The National Student Loans Service Centre is there to help you manage your loan debt. If you find that you are under-employed or unemployed when it comes time to repay the loan, contact the NSLS Centre to discuss repayment options. Check out www.canlearn.ca for information on Repayment Assistance (RAP).

18. Ontario Access Grant • To assist first and second-year students from low and moderate-income families with tuition costs. • Can cover between 25-50% of tuition to a maximum of $3,000 (dependent on parent(s) income) • For more information, click here https://osap.gov.on.ca/OSAPPortal/en/A-ZListofAid/PRD003552.html

19. GOVERNMENT-ISSUED FINANCIAL ASSISTANCE Bursaries (determined and distributed by the Financial Assistance Office) • For Students With Disabilities - students must contact Accessible Learning Services to register • Ontario First Generation - available for 2, 3, 4th yr. students, first in their family to attend post-secondary education • Aboriginal Post-Secondary Education & Training student should contact Aboriginal Student Services to confirm status

20. TUITION SET ASIDE BURSARIES • Entrance and Tuition Assistance • By application through Mocomotion posting • Financial Assistance Accessibility • By application through Mohawk’s Accessible Learning Services Office • Emergency Funds • By application through your Financial Assistance Advisor • Bus Shuttle • By application through Mocomotion posting • Mohawk Food Share • Through the Mohawk Students’ Association Office

21. HOW TO APPLY FOR TUITION SET-ASIDE • Full time registered students can apply prior to an academic semester based on dates advertised in MoCoMotion • Student completes an Online Application Profile with a budget reflecting a 4-month period of study • The application will be assessed by Financial Assistance • If showing financial need and supporting documentaton is submitted (letter and last academic transcript) the application can be included in a review for bursaries

22. DEFINITIONS OF BURSARY, GRANT,SCHOLARSHIP/AWARD Bursary • Non-repayable funds where assessment is based primarily on financial need and possible other criteria • Students could receive one (1) bursary/award per academic year if they qualify and are selected by the review committee Grant • Government issued funds, non-repayable and assessed via the OSAP application Scholarship / Award • Non-repayable funds where assessment is based primarily on academic merit and other criteria can vary (i.e. extracurricular activities, volunteer work, location, nationality)

23. AWARD ELIGIBILITY • Canadian Citizen, Permanent Resident or Protected Person • Ontario Resident • Demonstrated Financial Need • Grade Point Average for scholarships (per award criteria) • Some awards have specific criteria such as community service, extracurricular activities, location (i.e. Hamilton resident), status (i.e. returning student), etc. • Search for available awards and information at Mohawk College Scholarships & Bursaries

24. MAXIMIZING YOUR AWARD POTENTIAL • Certificates and Letters of Congratulations should be added to your application package. They are examples of your achievements and success. • One general award profile/application per term is required to be considered for available scholarships and bursaries. • External Awards are available – for example, Hamilton Community Foundation, Association of Iron & Steel Technologists College Scholarship.

25. ENTRANCE SCHOLARSHIPS AND BURSARIES • Available for “new” students entering their first year at Mohawk College. • New Mohawk students can apply for a selection of Entrance Scholarships and Bursaries listed at Awards Search Engine. • Apply online • Must provide a copy of their last academic record in your application package

26. APPLYING ON LINE • Search for awards at the Awards Search Engine • Follow the instruction on the Online Application Profile • Social insurance number is not required on the application; however, it will be required if you are selected as a recipient of an award • Students must submit an application letter and should include any additional documentation requested by the award listing • All documentations must be submitted by the Application deadline date to the Awards Office

27. NOTIFICATION • MoCoMotion email accounts will be used for all communication regarding scholarships and bursaries. Check your email account often. • Students are responsible to respond to any award notification within the timeline indicated or they could forfeit any award funding. • All students are required to provide a completed Personal Information Form and a “Thank You” letter to the donor

28. TIPS FOR COMPLETING YOUR AWARD APPLICATION LETTER • Submit a one-page typed letter • Introduction should state if you are full-time or part-time, your program name, and your semester level (i.e. Semester 1, Semester 2, etc…) • Body of letter should detail your achievements and explain your involvement at Mohawk College • Conclusion should show your appreciation for being considered by the committee and explain the impact the awards will have on your education.

29. TIPS FOR COMPLETING YOUR 4-MONTH BUDGET • Married or sole-support students can complete a household budget with reasonable expenses • Spousal contribution must be included for married/common-law students • Mortgage and property taxes can be included under rent. Include confirmation of expenses in your explanation. • Transportation can be included for necessary transportation related expenses beyond the cost of your local bus pass cost (included with your college fees). An explanation of why the extra transportation costs are required must be included. Continued….

30. TIPS FOR COMPLETING YOUR 4-MONTH BUDGET • Locked-in investments and lines of credit do not need to be included as resources • Indicate if you have applied for or received a Tuition Assistance Bursary, Help Fund Bursary or other financial assistance (this information will be verified) • Indicate if you have, or will be, applying for OSAP (this information will be verified) • If you know your OSAP entitlementfor the academic year, include 1/2 of your total distribution.

31. REMEMBER TO: • Submit your online application profile to be considered for financial assistance in a semester. • You must “preview” your online application and be sure your information is correct prior to clicking the “submit” button • A confirmation is provided and an Application Checklistshould be printed • Include all documentation with the checklist when submitting to a Student Services Office • BScN students must submit a copy of your SOLAR Registration Record and Degree Audit Report from MUGSI • New incoming students must submit a copy of your last academic record (high school transcript/alternate post-secondary transcript)

32. CONTACT THE FINANCIAL ASSISTANCE OFFICE Financial Assistance Advisors Based on the initial of your last name: • A-G 905-575-2188 • H-O 905-575-2196 • P-Z 905-575-2134 Coordinator 905-575-2249 email:financialassistance@mohawkcollege.ca Awards Officer 905-575-2066 email: awards@mohawkcollege.ca

33. USEFUL WEB SITE LINKS Financial Assistance at Mohawk College http://www.mohawkcollege.ca/financialaid.html Ontario Student Assistance Program (OSAP) http://osap.gov.on.ca/ Awards, Scholarships and Bursaries http://awards.mohawkcollege.ca Loan Repayment Information www.canlearn.ca Studentawards.com www.studentawards.com

34. THANK YOU We hope you found the information about Mohawk College’s financial assistance programs helpful. Best wishes for success with your studies at Mohawk College.