Welcome to Finances Matter!

1. Welcome to Finances Matter! Welcome DayAugust 10, 2012 Presented by:Office of Student Financial Aid & Scholarships (SFAS) Student Accounts & Cashiers (SAC) What do I need to do between today and September to prepare for University?

2. FIPPA: Freedom of Informationand Protection of Privacy Act Respecting your privacy and your personal information is a priority for us. McMaster University’s management of personal information is governed and bound by the Freedom of Information and Protection of Privacy Act (FIPPA) • All students will be required to provide their Student ID card when requesting information or when picking up documentation • Parents, family and friends will NOT be provided with any personal information. They may make payments only if they have your Student ID card or number • Students must give signed authorization when requesting transcripts or certification of enrolment letters or forms • Students are encouraged to look up information online through MUGSIand to use their McMaster email address for all correspondence with the University What do I need to do between today and September to prepare for University?

3. Office of Student Financial Aid & Scholarships (SFAS) Gilmour Hall, Room 120 (905) 525-9140 ext. 24319 Online at http://sfas.mcmaster.ca What do I need to do between today and September to prepare for University?

4. Office of Student Financial Aid & Scholarships We are more than the OSAP office! Visit us for: • Federal & Provincial Student Aid Programs (e.g. OSAP) • Entrance, In-course & External Scholarship Programs • University Bursary Programs • Work Programs • Confidential Counselling • Budgeting Strategies & Tips GET TO KNOW US… WE’RE HERE TO HELP ! What do I need to do between today and September to prepare for University?

5. As You Begin University … Tip #1: You Must Apply to Qualify! • Did you apply for OSAP? Did you know that by applying for OSAP you could be eligible for our bursary and work programs and the Ontario Tuition Grant? Apply today, it’s not too late! Apply less than 45 days into your study period to ensure maximum entitlement. • Your signature pages and supporting documentation must be submitted to the Financial Aid & Scholarships Office, Gilmour Hall, room 120. • Your Master Student Financial Assistance Agreement (MSFAA) must be taken (not mailed) to a designated Canada Post outlet with proof of your Social Insurance Number and valid government-issued photo ID. Tip #2: Be Aware! Monitor Your OSAP Online. • Has your application been submitted properly and has it been processed? Monitor your application online under “Check Status” at http://osap.gov.on.ca. • There is NO in-person pick-up! The National Student Loans Service Centre (NSLSC) will electronically distribute your funding (as specified on your OSAP application) once your enrolment has been confirmed by the University. What do I need to do between today and September to prepare for University?

6. As You Begin University … Tip #3: Ontario Tuition Grant Beginning in fall 2012, for two terms, the grant pays: • $1,680 a year for students in a degree program at a college or university You are eligible if: • you are a Canadian citizen, a permanent resident or a protected person; and, • you are an Ontario resident; and, • you are a full-time student at a public college or university in Ontario; and, • you are in a first-entry program (a program you applied to and entered directly from high school); and, • it’s been less than four years since you left high school ; and, • your parents’ gross income is $160,000 or less. You’re automatically considered if you have a fully complete 2012-2013 OSAP application. Students who are not applying for OSAP can apply for the Ontario Tuition Grant (OTG) ONLY at http://www.ontario.ca/30off. Find out more information about OTG at http://www.ontario.ca/30off. What do I need to do between today and September to prepare for University?

7. As You Begin University … Tip #4: When It’s Not Enough! • Funding too low? If you don’t think you have enough money and did not receive the maximum OSAP assessment, drop in to see a Financial Aid Counsellor to review your OSAP application and investigate if there are appeals available to you. Tip #5: There Are Programs Available to Students With Permanent Disabilities • Contact Student Accessibility Services or a Financial Aid Counsellor in SFAS for details on programs available to students with permanent disabilities. What do I need to do between today and September to prepare for University?

8. As You Begin University … Tip #6: Report Changes! • You must report any changes in status to SFAS in order to maintain your eligibility for loans, bursaries, scholarships and work programs For example,- Change in Personal Income- Parental Earnings- Marital Status- Address Change- Drop/add courses- Program changes- Withdrawal from school- etc. Change Happens! What do I need to do between today and September to prepare for University?

9. As You Begin University … Tip #7: We Want to See You! • Don’t be shy! Get to know us … Our knowledgeable and friendly staff will be happy to help you with your financial questions and issues. Carol Ricki Isabella Nancy What do I need to do between today and September to prepare for University?

10. Undergraduate Entrance Scholarships Did You Know …? • Your award can be seen on MUGSI under “Financial Aid & Scholarships” and, once paid to your student account, it is available as a payment option on your Payment Agreement. You can return to your PA and apply your scholarship towards your tuition and fees by choosing your McMaster Scholarship as a funding option and clicking “CONFIRM”. • In order to retain your award, you must remain registered as a full-time student (minimum 24 units). • A transcript notation of your achievement will be available in February. What do I need to do between today and September to prepare for University?

11. If you have any questions about your entrance award or should you require written notice about your award, please contact awards@mcmaster.ca. Undergraduate Entrance Scholarships … What do I need to do between today and September to prepare for University?

12. The Mystery Behind Bursaries … Mystery #1: What is a Bursary? A bursary is funding for students who demonstrate FINANCIAL NEED; it is not a loan and does not require repayment. Mystery #2: Where Do Bursaries Come From? Bursary funding is made possible through institutional funding and generous donors to McMaster. If you receive a donor bursary, PLEASE write a thank you note to the donor and we will deliver it for you; they love to hear from the students they support. What do I need to do between today and September to prepare for University?

13. The Mystery Behind Bursaries … Mystery #3: How Do I Qualify and Where Do I Apply? • To be considered, you must have applied to a Federal or Provincial Student Aid Program such as OSAP or otherwise demonstrate significant financial need. Applications are available on-line through MUGSI; please check our website for application dates and deadlines at http://sfas.mcmaster.ca. You may receive only one McMaster bursary per academic year. What do I need to do between today and September to prepare for University?

14. Provide a way to supplement your income while you are studying – 10 hours per week on campus Allow for flexible scheduling in order to make your academics your first priority Are located where you are - on campus Present you with the opportunity to build a relationship with your University Offer you the ability to develop work-related skills and habits possibly in your area of study Look great on your resume Work Programs and YOU … Work Programs … What do I need to do between today and September to prepare for University?

15. An application is just a click away. Apply on-line through MUGSI starting August 1st for fall/winter work-study and March 1st for summer work (*note: in order to qualify for fall/winter work-study, you must have applied to a Federal or Provincial Student Aid Program such as OSAP or otherwise demonstrate significant financial need) Jobs are posted regularly on-line at https://www.oscarplus.mcmaster.ca Opportunities include (but are not limited to): Research Assistant Daycare Assistant Library Support Website Assistant Administrative Assistant Media Library Clerk Personal Trainer/Fitness Leader Grounds Keeper Work Programs and YOU … What do I need to do between today and September to prepare for University?

16. Be A Budget Builder! • Budgeting is about understanding how much you earn; how much you spend (on what!); and the difference between your income and expenses. • Use our interactive budget worksheet “BUDGET BUILDER” or play our on-line budgeting game “BUDGET BONANZA” to see if you are a financial survivor! • Avoid Financial Stress! Use your budget as a spending plan and take control of your finances. What do I need to do between today and September to prepare for University?

17. Preparing A Budget • Know & understand the resources you have and the expenses you will have to pay • Plan ahead! Sit down with your parents and develop a REALISTIC budget BEFORE school starts • Stick to your budget carefully so that you can make it through the year; don’t forget about the December holidays and February Reading Week! • Keep track of bills and pay ALL bills on time! • If expenses are greater than resources, you must figure out how you are going make up the difference (ie. work more or spend less). This may mean revisiting your budget plan and making adjustments. • Avoid purchasing on credit What do I need to do between today and September to prepare for University?

18. The Cost of Paying With CREDIT What do I need to do between today and September to prepare for University?

19. Cost Saving Tips • Comparison shop to get the best deal for your dollar (e.g. shop around for the best cell phone plan) • Clip coupons • Take advantage of student discounts • Make your daily coffee or tea at home • Carry a reusable water container and drink tap water • Find clubs and engage in activities that are fun without cost (e.g. organize a walk/run/hiking group and simply enjoy the outdoors) What do I need to do between today and September to prepare for University?

20. Student Accounts & Cashiers (SAC) Gilmour Hall, Room 209 Phone:(905) 525-9140 ext. 24478 Fax: 905-527-3615Email: student.accounts@mcmaster.ca Website: http://www.mcmaster.ca/bms/student What do I need to do between today and September to prepare for University?

21. Student Accounts & Cashiers • Parents are your best asset • Parents can help you make decisions • Important: opening discussions early • Important: planning ahead financially • Still time to negotiate details of how to cover costs • Your responsibility – not your parents • Important: knowing each other’s expectations • Important: completing all processes early What do I need to do between today and September to prepare for University?

22. Student Accounts & Cashiers FIPPA (Freedom of Information Privacy Protection Act) Parents: this means that only your child has access to all personal information including the student account statement. We can provide you with general information, but to get specific information, you must access through your child. Students: this means that parents will be asking you for details and balance information. Since we cannot provide them with specific details, help them help you. What do I need to do between today and September to prepare for University?

23. Student Accounts & Cashiers PAYMENT AGREEMENT • Online registration tool used ONLY during the registration period • Mandatory to “CONFIRM” to complete registration • Calculates your fees based on status, program and course selection, Residence, Meal Plan and Funding Options you select • Promissory Note • Confirmation activates other automated processes like: • becoming a fully registered student • receiving your confirmation package and sticker, • accessing your online timetable • Payment Schedule and Message sections outline important actions to take as well as the payment deadline dates resulting from the selections you have made. • Revisionscan be made as necessary up to September 14 CONFIRM What do I need to do between today and September to prepare for University?

24. Student Accounts & Cashiers STUDENT ACCOUNT STATEMENT As soon as you have a student ID#, a student “account” is created for you. What do I need to do between today and September to prepare for University?

25. Student Accounts & Cashiers STUDENT ACCOUNT STATEMENT • ACCESS: through MUGSI (MUGSI / Continue / Student Accounts & Cashiers / Account Statement) • Activate your MacID and Password. • FREQUENCY: The more frequent you review, the easier it will be to stay in good financial shape. We strongly recommend monthly . It’s important to remember, if you are not checking in frequently, nobody is. • WILL I GET A “BILL” IN THE MAIL? No. Your account is available 24/7 through MUGSI. Only you have access by logging on. • WHAT TO CHECK FOR: Check to ensure all payments have been received and all charges are as you were expecting. If you see something that doesn’t look right, following up with questions at the time is much easier than trying to fix it 8 months later. What do I need to do between today and September to prepare for University?

26. Student Accounts & Cashiers • Paying from a CANADIAN bank account? Use INTERAC Online Payments can be made directly through your student Account Statement or Payment Agreement. Click the button on your Payment Agreement and Account Statement. Your payment will appear in the Account Statement INSTANTLY! CONTEST DATES: August 1 – September 4, 2012 – Make a payment for a chance to WIN PAY NOW What do I need to do between today and September to prepare for University?

27. Student Accounts & Cashiers Make all payments ONLINE! • INTERAC Online or Travelex Make an INTERAC Online or Travelex by clicking from your Payment Agreement or Account Statement for convenient, easy and secure ways to pay your fees. I • Online/Telephone Banking • Log on to your bank’s website/call centre • Add McMaster University as a “New Bill” to pay • Enter your 7-digit student ID # as the requested “account” number. • Payments may take up to 5 business days to show in your Account Statement. • Don’t stand in line! Online payments are safe and secure. INTERAC Online, Travelex or Online / Telephone banking are McMaster’s preferred methods of payment! PAY NOW What do I need to do between today and September to prepare for University?

28. Flex Plan Overview 1. $35 Flex Plan fee - charged per term (Oct 1st / Feb 1st) as long as fees are not paid in full. 2. All plans are subject to monthly interest charges on balances not paid in full by the end of September. FLEX Plan - OSAP. Designed for students using OSAP as a Funding Option (as selected on your Payment Agreement), corresponding to OSAP release dates. • 60% of total fees are due in your student account no later than September 30th • OSAP applications must indicate that you want to have your funds remitted directly to Mac • Balance of fees are due no later than January 30th to avoid second per-term Flex Plan fee FLEX Plan – 1 Term. Designed for students who are only registered in Term 1 or who want to minimize their interest and per-term Flex Plan fees. • 50% of total fees are due no later than September 1st • Payments can be made anytime, in any amount between Sept 2nd and December 15th FLEX Plan – 2 Term. Designed for students who would like to spread their payments into the second academic term. • 25% of total fees are due no later than September 1st • Payments can be made anytime, in any amount between September 2nd and March 15th • For ALL FLEX PLANS, paying more than the required amount by September and not waiting until the end of the term to pay off the balance will minimize your interest charges and administration fees. What do I need to do between today and September to prepare for University?

29. Student Accounts & Cashiers COST SAVING TIPS • Consult “Important Dates and Deadlines” on our website. Missing deadlines (i.e. Payment Agreement, Payments) usually result in late charges. • Understand how interest charges work. • Pay by September 1: Minimize interest charges and plan fees by paying more at the beginning of the year instead of carrying a balance. • Review your Account Statement regularly because charges can go on your student account at any time of the year, i.e. library fines, bookstore purchases. • Consult the Cancellation Schedule before you decide to drop or cancel a course. Dropping has no financial penalty and cancelling does, but both may have OSAP implications. • Watch the bookstore purchases. While charging textbooks (at Titles Bookstore) to your student account can be a huge convenience, be careful of the temptation to purchase non-essential items and leaving the items owing on your student account. • Opt-out of Health and Dental coverage if you are currently under your parent’s plan. Opt-out dates are Sept 1-30. No exceptions! Go to MSU website. What do I need to do between today and September to prepare for University?

30. Student Accounts & Cashiers AVOIDUNNECESSARY STRESSES Enable your McMaster email, this is how we communicate with you. Check your Account Statement regularly Confirm your Payment Agreement early to benefit from other automated processes MUGSI is the gateway to all student info. Enable your MacID and password and refer to it regularly for relevant information Having an unpaid balance past the payment deadline dates results in being BLOCKED from accessing grades, receiving transcripts, future registrations or benefitting from future credit at Mac. What do I need to do between today and September to prepare for University?

31. Student Accounts & Cashiers Parents… you are probably wondering what you can do to help? 1. Register to receive our Student Affairs newsletter. http://studentaffairs.mcmaster.ca/parents/ 2. Become familiar with our website / dates http://www.mcmaster.ca/bms/student 3. Most departments’ websites include a special Parent’s Page because we recognize what a valuable role you play. What do I need to do between today and September to prepare for University?

32. Thank you for your participation and we wish you continued success at McMaster! Questions & Answers… What do I need to do between today and September to prepare for University?

33. Contact Us Office of Student Financial Aid & Scholarships Gilmour Hall, Room 120 (905) 525-9140 ext. 24319 e-mail: awards@mcmaster.ca | osap@mcmaster.ca web:http://sfas.mcmaster.ca Student Accounts & Cashiers Gilmour Hall, Room 209 (905) 525-9140 ext. 24478email: student.accounts@mcmaster.ca web: http://www.mcmaster.ca/bms/student Still have questions?Look for ‘Ask McMaster’ on our websites What do I need to do between today and September to prepare for University?