POST SECONDARY FINANCIAL PLANNING WORKSHOP

ST. Maximilian Kolbe

CHS

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

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

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

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

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

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

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

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.

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.

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)

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.

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.

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)

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

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

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 !!

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 !

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.

THANK YOU

FIND THIS PRESENTATION AND OTHER RESOURCES AT

ST. MAXMILIAN KOLBE CHS WEBSITE GUIDANCE PAGE