Funding Your Post Secondary Education Financial Aid and OSAP

2018-2019 Tuition and Fees and Deadlines Graduate Tuition Fees vary between research/thesis based programs and professional programs. Please visit https://www.trentu.ca/graduatestudies/experience/tuition-awards-funding/student-fees for more information Deadline Date Sept 28th Fall Term Fees Due (OSAP/sponsored) Check balance via myTrent portal – Statement of Account January 28th Winter Term Fees Due (OSAP/sponsored) May 28th Summer Term Fees Due (OSAP/sponsored) OSAP Application Deadline Dates Fall Only – NOVEMBER 1 Fall/Winter – MARCH 1 Fall/Winter/Summer – JULY 2 Student Accounts Office Email: studentaccounts@trentu.ca Phone: 905-435-5100 ext. 1317

What is OSAP? https://ontario.ca/osap Government student assistance program for Ontario residents Amount of funding based on a number of variables: family income, family size, assets, etc. Combination of Federal and Provincial Loans and Grants Loans are interest free while registered full-time in a post-secondary institution Grants do not have to be paid back https://ontario.ca/osap

Scholarships/Awards & Income – What do I report to OSAP? Income or Award Report to OSAP Scholarships/Fellowships Award YES Supervisor Support/TA Income Employment Income Ontario Graduate Scholarship (OGS) NO – Trent reports

OSAP – Key Points Scholarships & Bursaries Discussed previously Income Income for prior year Expected earnings while in school (employment) Any Government Assistance (OW, ODSP, EI) Non-taxable income such as child support Program Information – one, two or three terms Percentage of course load – 100% unless part-time or disability status on OSAP Current situation – married, single, sole-support Assets - RRSPs Include – savings bank accounts including TFSAs, GICs, stocks, Canada Savings Bonds, etc… DO NOT include – vehicles, principal residence, RRSPs, RESPs, Child Tax Benefit, etc… Changes to OSAP – submit OSAP Change form online via myTrent portal under FINANCES tab

OSAP - Last Steps Review before submitting your application Print, complete, and submit required documents Upload Consent/Signature pages online or bring to Financial Aid Office Complete MFSAA online – you will have a link to register with National Student Loans Funding Your Post Secondary Education

National Student Loans Service Centre Register account online via MFSAA process Set-up account to receive funds (your bank account) Track your student loan and grant status Receive important updates & alerts Helpful tools, tips and other resources to manager student funding Loan Repayment Starts 6 months after you cease to be a full-time student RAP Program – monthly payments will either be reduced or not expected for 6 month – criteria and application online via NSLSC website Webinar Link: https://www.trentu.ca/studentfinances/osap-out-province-work-study/national-student-loans-services-centre

Your OSAP Estimated Funding Funds are released: Automatically to school to pay fees You are responsible for ensuring school fees are paid in full Funding Your Post Secondary Education

Frequently Asked Questions What are possible reasons OSAP funding could be delayed? How can I select the ‘NO LOAN’ option on OSAP? Continuation of Interest Free Status – what is this? How is OSAP distributed if I am studying Fall – Winter & Summer? Are scholarships considered employment income? How do students report Supervisor support? How do I update OSAP if I finish early? Restrictions – how do they happen? – example – bankruptcy or lifetime limits

How to Prepare Start planning Try the estimate calculator on the OSAP website Start saving money OSAP is not designed to cover all expenses Look for external awards and scholarships Be aware of how you spend – budget! Visit the Grad Studies office Visit the Financial Aid office We are here to help!

Thank you for attending! Trent’s Financial Aid Office Phone: 705-748-1011 ext. 1524 Email: financialaid@trentu.ca Web: www.trentu.ca/studentfinances