1. Financing Your Education Presented by the Humber College Financial Aid Office 2016-2017

2. 2 How will I pay for my post- secondary education? OSAP Not just loans How to Apply Checking your Status Calculations Disbursement & Repayment Humber Scholarships Bursaries Work Study Other Options Student Lines of Credit Off Campus Employment External Awards Budgeting Keeping track $

3. 3 Financial Success Requires… 1.Planning 2.Creativity 3.Flexibility 4.Support

4. 4 Financing Your Education Financial AidPersonal Off-Campus Work Study Employment

5. 5 Financial Aid OSAP Needs based for full- time students Repayable loan Non repayable grant Funded; Federal/ Provincial Ontario Student Opportunity Grant (Loan forgiveness) One application per academic year - assessed for multiple loans and grants SCHOLARSHIPS Non repayable award/s Usually based on academic merit Offered by Humber College and externally BURSARIES Non repayable award/s Usually based on financial need Offered by Humber College and externally

6. 6 OSAP – Not Just Loans Over 20 separate loan, grant, bursary & scholarship programs; more details at ontario.ca/osapontario.ca/osap Persons w. Disabilities Grant Ontario Access Grant Bursary for Students w. Disabilities (BSWD) Middle-Income Grant Ontario Tuition Grant (OTG) Person’s w. Dependents Grant Child-Care Bursary Low-Income Grant LOAN FORGIVENESS – Ontario Student Opportunity Grant (OSOG)

7. 7 OSAP – How to Apply Online Application: ontario.ca/osap Paper Application: Visit the Financial Aid Officeontario.ca/osap Application 2016-2017: available late April/early May The online application is the easiest and quickest way to apply for OSAP. The paper application can be used by students without internet access, or students who are advised to apply using the paper form by a Financial Aid Advisor. You can also estimate your OSAP funding online!estimate

8. 8 Starting Your Application Before you begin, collect the following, depending on your living status, not all information may be required: Social Insurance Numbers for the student and parent(s) Date of birth for student and parent(s) Parent(s) and Student 2015 income tax return Student’s most recent pay statement showing year-to-date income Last date you attended high school OEN (Ontario Education Number, found on student’s high school transcript) however, not mandatory Driver’s License number, if applicable Student number assigned by your college/university *Consent to view OSAP file: Name, DOB of person who you want to provide permissions to enquire about your OSAP

9. 9 OSAP - Steps Submit OSAP Application onlineMSFAA  Designated Postal Outlet Signature Pages and Supporting Documents (if any)  Your Financial Aid Office/Upload Confirmation of Enrolment (by Humber College)Release of Funding to Your Bank Account

10. 10 OSAP – Checking Your Status Outstanding required documentation must be submitted and can be found either online or on your smartphone! NOTE: Print and submit your Signature/Declaration Pages to the Financial Aid Office Print your Master Student Financial Assistance Agreement (MSFAA) and submit to a Designated Postal Outlet (list can be found on the OSAP website) *If you have requested for the signature pages and MSFAA forms to be mailed to you, submit completed signature pages to the Financial Aid Office and completed MSFAA forms to a designated postal outlet ASAP*

11. 11 OSAP - Calculations Allowable Educational Costs Expected Financial Contribution Calculated Financial Need Tuition Fees Books and Supplies Equipment Computer Costs Personal Living Expenses Child Care Travel  Student Income  Student Assets – e.g., Savings, Term Deposits  Parental Income  Spousal Income  Spousal Assets Federal Assistance Provincial Assistance

12. 12 OSAP – Disbursement & Repayment Funding is released electronically to your bank account by the National Student Loans Service Centre (NSLSC) OSAP released - 2 installments: 1st and 2nd semesters OSAP Repayment: - 6 months after you graduate or end of your studies - 15 years to repay - Several loan repayment assistance plans - Loan Repayment Calculator National Student Loan Service Centre – www.canlearn.ca / 1 888 815 4514 www.canlearn.ca

13. 13 Humber – Work Study Humber offers a Work-Study program to assist students in financial need to meet their educational costs by working part- time during the academic year. Requirements: -Must be in satisfactory academic standing -Must be a full-time student -Must be a Canadian Citizen, Permanent Resident or Protected Person -Must demonstrate financial need Complete a Fall/Winter Work Study Application online at www.humber.ca/myhumber www.humber.ca/myhumber (click on Student Awards & Financial Aid  Apply for Student Aid  Work Study)

14. 14 Humber – Bursaries Available for Certificate, Diploma and Degree programs! Bursaries are primarily awarded based on financial need but other factors may be considered. Bursary Offerings: 1.Tuition Bursaries 2.Financial Need Bursaries 3.Ontario First Generation Bursaries 4.Ontario Student Opportunity Trust Fund (OSOTF) 5.Student Access Guarantee Bursaries 6.Study Abroad/International Mobility Bursaries

15. 15 Humber – Scholarships Primarily recognize and reward academic excellence, but other factors may be considered. Various offerings with differing deadlines! Scholarship Offerings: 1.Academic Scholarships 2.Entrance Scholarships 3.Application Based Scholarships 4.Degree Scholarships External Scholarships: - www. scholarshipscanada.com - www.yconic.com

16. 16 Other Options Student Line of Credit Competitive interest rates Monthly interest Repayment of principal amount begins after graduation Co-Signors usually required Employment Off Campus Work Study jobs on campus Budget wisely/don’t spend too much money travelling to work External Awards Research Offered by external companies/organizations Association of Universities and Colleges of CanadaAssociation of Universities and Colleges of Canada NEADS www.yconic.com

17. 17 Budgeting – Effective & Important! 1. Plan 2. Identify your shortfalls 3. Reduce your spending 4. Maximize your income 5. Maintain your balance

18. Need more info? Humber College Financial Aid Office Located in the Office of the Registrar North Campus – Learning Resource Commons L-1 Lakeshore Campus – Room A118 Hours: 8:30am – 4:30pm, Monday-Friday P: 416 675 6622 N: 3111 L: 3212/3514 E: finaid@humber.ca