Helping Students Create a Financial Plan

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Helping Students Create a Financial Plan

• Counselor Information Day
• December 4, 2007
• Erin Cusack Student Financial
• Assistance and Awards

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Helping your students create a financial plan

• Set short term and long term academic goals and
  start building a financial plan to achieve them
  (look at pros and cons)
• Talk to your family now about your financial
  plans and academic goals
• Set goals for your summer earnings each year
• Make a new financial plan each year, as
  circumstances and resources change
• Look at using multiple financial resources to
  meet your goals
• Set up a timeline for goals and keep on top of
  deadlines for resources

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Students Should Consider All Possible Sources of
Funding

• Parent and family support
• Savings from summer jobs
• Loans (government financial institutions)
• Scholarships (UBC or external)
• UBC Awards
• (Affiliation, Aboriginal, Disability Awards)
• Bursaries
• Work Study / other part-time work

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Awards for 1st Year Students

• Major Entrance Scholarship (nomination required)
• Deadline February 28, 2008
• Presidents Entrance Scholarship
• Automatic consideration with Admissions
  application
• Entrance Bursary (nomination required)
• Deadline February 28, 2008
• note Unlike the general bursary program, the
  Entrance Bursary does not require students to be
  on a student loan. (General Winter Bursary
  applications available online on the Student
  Service Centre mid-August)
• Affiliation Awards
• Deadline June 2008
• Aboriginal Awards
• Deadline June 30, 2008
• Awards for Students with Disabilities
• Deadline October 15, 2008

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Initial Planning Look at costs and resources

• Where can you find information?
• www.you.ubc.ca

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Cost Calculator

• The cost calculator is a great interactive tool
  for financial planning.
• Enter www.you.ubc.ca through the Counselor portal
  (students can click on the campus of their
  choice)
• Choose Tuition, Scholarships and Support
• Then click on Cost Calculator for the
  appropriate campus
• This is a fantastic place for students to begin
  achieving a realistic idea of the cost of
  attending university, and to start working on
  their financial plans.

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How are students paying for their post-secondary
education?
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Meet Susie in 1st Year

• Awarded the 4000 Presidents Entrance
  Scholarship
• Grandparents and parents paid first-year housing
  and meal plan
• Worked at summer camp to cover books, supplies
  and extra costs
• Financial Resources family support
  scholarships summer savings

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Meet Marty in 1st Year

• Worked full-time July August as a sandwich
  artist and saved up for school
• Family support was not available
• Applied for government student loans
• Applied for job through UBC Work Study
• Financial Resources student loans summer
  savings part-time job

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and Marty in 2nd Year

• Awarded the 1500 TREK Excellence Scholarship
• Worked full-time May - August at a deli (had full
  4 months to work.) Has a Work Study job in the
  library for school year
• Receiving government student loans
• Applied for the UBC Winter Bursary
• Financial Resources scholarships work
  student loans ( bursary if eligible)

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Websites and Contact Information

• Student Financial Assistance Awards
• 1036 1874 East Mall
• Vancouver, BC V6T 1Z1
• Tel [phone]
• Email awards.inquiry_at_ubc.ca
• Website www.students.ubc.ca/finance
• Awards information and Cost Calculator
• www.you.ubc.ca