post secondary financial planning workshop
DESCRIPTION
ST. Maximilian Kolbe CHS. POST SECONDARY FINANCIAL PLANNING WORKSHOP. QUICK FACTS. Average debt upon graduation $24K Youth Unemployment was 17% in 2011 36% ended their studies early for financial reasons 48% of students could not attend without financial aid. Humber College Costs - PowerPoint PPT PresentationTRANSCRIPT
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POST SECONDARY FINANCIAL PLANNING WORKSHOP
ST. Maximilian Kolbe
CHS
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QUICK FACTS
• Average debt upon graduation $24K
• Youth Unemployment was 17% in 2011
• 36% ended their studies early for financial reasons
• 48% of students could not attend without financial aid
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Humber College Costs
Tuition for a diploma or certificate $2,950Tuition for a bachelor's degree $5,800Books $1,200Supplies $500Parking $545Public Transit $900Residence and regular meal plan $6,995- $9,175
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McMaster University Costs*costs vary due to programs, type of residence and meal size
Minimum*:
• Tuition $5,582
• Residence $3,805
• Meal Plan $2,500
• Textbooks $1,000
• Total $12,887
Maximum*:
• Tuition $7,748
• Residence $6,110
• Meal Plan $3,300
• Textbooks $2,000
• Total $18,158
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FINANCING OPTIONSPOST SECONDARY
Scholarship
- financial assistance awarded on the basis of academic and/or other aptitude merit
- awarded by colleges, private companies, etc.
- not based on financial need and non -repayable
Bursary/Grant ( 30% Gov’t Tuition Grant )- financial award given on basis of financial need ( $160K family inc.)- criteria may also include academic achievement- documentation for financial need may need to be provided (eg.OSAP)- bursaries are non-repayable
Award- award given for outstanding achievement- financial awards are scholarships or bursaries and are non-repayable- awards may be other than financial
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FINANCING POST SECONDARY STUDY
Personal Financial Resources
- part time work ie YOUR SAVINGS !
- loans, lines of credit,
- RESP ( Registered Education Savings Plan )
- family support
OSAP- Ontario Student Assistance Program- student needs to apply for loan in May- government loan which must be repaid
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Scholarshipscanada.com• Canada's most comprehensive scholarship portal. Search
through an extensive database to find scholarships, student awards, bursaries and grants. You'll also find information about student loans, applications and budget planning.
• Registration is free, complete a detailed personal profile and check your email regularly for scholarship updates
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Studentawards.com is a FREE scholarship search service devoted to helping high school seniors, university and college students find information on scholarships, bursaries, grants and other forms of financial assistance. They also offer unique scholarships to their online members that are only available on studentawards.com.
Registration is free, complete a detailed personal profile and check your email regularly for scholarship updates
Studentawards.com
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Tips for Submitting Great Scholarship Applications
• Passion for the subject – apply awards you are truly interested in.
• Research – find out exactly what the scholarship is looking for.
• Clarity – be clear, concise (word limit), relevant info only and proofread.
• Discuss – not a resume, expand on your experiences and longer term goals.
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Tips continued• Structure, Spelling & Grammar – proofread, use
proper sentence/essay structure.
• References – use professionals (teachers, coaches, managers) be sure to inform them.
• Facebook – manage your personal on-line resources, you will likely be “Googled”.
• Follow Instructions – use a checklist to ensure you have submitted all required items as specified.
• Deadlines – don’t expect an extension ! Start early and submit on time.
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COLLEGE & UNIVERSITYSCHOLARSHIPS
2 TYPES –Automatic & Application Required
Automatic- mark based, no application needed.
Examples:
Trent: 90% or higher = Full Tuition
Otttawa: 80-84.9 = $1000 (x4), 85-89.9= $2000 (x4)
90-94.9= $3000 (x4), 95 %+ = $4000 (x4)
York:80-84.9 = $500 (x4), 85-89.9= $1000 (x4)
90-94.9= $2000 (x4), 95 %+ = $3000 (x4)
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UNIVERSITY/COLLEGE SCHOLARSHIPS (APPLICATION
REQUIRED)• STUDENTS MUST RESEARCH SPECIFIC CRITERIA
REQUIRED FOR EACH SCHOLARSHIP
• STUDENTS MUST APPLY FOR SCHOLARSHIPS
• CAREFULLY FOLLOW THE INSTRUCTIONS AND TIMELINES OUTLINED
• OBTAIN DOCUMENTATION & REFERENCE LETTERS FROM THE SCHOOL
• SUBMIT THE APPLICATION
• Example : Queen’s Chancellor’s Award: 90%+, creative & original thinking, proven leadership qualities, high school nomination required, 2 per school, due Dec 1 , 2012.
• * Note: some of these require school endorsements and limit the number of applicants per school.
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SMK PROCESS FOR SCHOOL ENDORSED APPLICATIONS
• 1. Check emails & bulletin board, listen for announcements regarding scholarships
• 2. Complete a paper copy of the application and submit it to your counsellor by the specified deadline. ( this is prior to the actual scholarship deadline).
• 3. Your application will be reviewed & ranked by Guidance and Admin.
• 4. Candidates will then be notified.
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Donor Based Scholarships• Specific Criteria
• Academic
• Community Service
• Leadership Activities
• College or University Applicants
Example : Loran Awards : over 85 % (gr 9-11), extensive community service and school involvement, selected universities only, school endorsed ( due to Guidance Oct 9) or direct pool (Oct 25)
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APPLYING FOR GENERAL SCHOLARSHIPS• When applying for scholarships
you need to write a letter to show you are the best candidate for the scholarship
• Before writing the letter, compile a list of all the activities you have been involved
• After you have compiled your list, think about how your experiences during high school have contributed to your personal growth
• Follow instructions and timelines
• The following list will help you develop your ideas– Awards– Clubs– Co-op jobs– International exchange– Part-time jobs– Projects– Scholastic achievement– School associations– Student government– Volunteer work out of school
• Obtain the necessary documentation from the school
• Submit the application
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Athletic Scholarships
• Do exist in Canada
• Maximum of $3500 per year
• Must have 80% average
• Are determined by individual teams within each specific institution
• Contact the athletics department/coaches at the school you are considering
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Scholarships: Not just for “Brainiacs” !
• Generally you need good marks (80%) but also:
1.Creativity & Leadership
2.Volunteer work
3. Athletics
4. School Involvement
5. Language, culture, where you live, where your parents work, your employer, your parish, and many more !!
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THINGS TO DO
• REVIEW UNIVERSITY & COLLEGE COSTS• REGISTER AT
WWW.STUDENTAWARDS.COM AND AT WWW.SCHOLARSHIPSCANADA.COM
• CHECK YOUR EMAIL REGULARLY• LISTEN TO /VIEW ANNOUNCEMENTS• INVESTIGATE SCHOOL SPECIFIC AND
AUTOMATIC SCHOLARSHIPS.• OBSERVE ALL DEADLINES• TALK TO YOUR GUIDANCE
COUNSELLOR !
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Other Websites
• www.electronicinfo.ca – use EINFO’s scholarship search engine for Ontario Universities
• www.ontariocolleges.ca - follow links under “money matters”
• http://osap.gov.on.ca – OSAP website for application and calculator.
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THANK YOU
FIND THIS PRESENTATION AND OTHER RESOURCES AT
ST. MAXMILIAN KOLBE CHS WEBSITE GUIDANCE PAGE