Financial Aid Money Matters

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Financial Aid Money Matters
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They Grow So Fast!!
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First they are in Elementary School
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Second, High School
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Then off to University/College
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Financial Aid, UNBF

• 
  CONTACTS
• Shelley Clayton or Kelly Waugh
• Director Financial Aid
  Officer
• Location Room 3, Alumni Memorial Building
• Tel [phone]
• Fax [phone]
• E-mail finaid_at_unb.ca
• Web site http//www.unbf.ca/financialaid/

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Part 1

Costs of Attendance
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Approximate Costs 2008-2009

• Tuition 5,482
• Fees (Health Dental next slide) 588
• Residence costs
• (double room/19 meals) 7,561
• Books/equipment and supplies
  1,500
• Local travel 800
• Return travel 1,500
• Miscellaneous (entertainment, etc.) 1,200
• Parking Fee 77
• TOTAL 18,708

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Health Dental Plan at UNB

• ADMINISTERED BY
• If you have alternate medical coverage and do not
  wish to remain on the UNB
• student plan, you can opt-out by visiting the
  following website
• http//www.unbsu.ca/
• You can choose to opt-out of the dental plan
  without showing proof of coverage,
• however this must also be indicated online. A
  verbal indication that the student
• wishes to opt-out is not sufficient and will not
  result in a credit to your
• University account. (COSTS Health 137
  Dental 112 249)

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Health Dental Plan at UNB

• CONTACT the Student Union Office
• Tel [phone]
• E-mail unbsu_at_unb.ca
• Web site http//www.unbsu.ca/
• It is essential that you provide your alternate
  health plan information ( insurer, policy number,
  primary subscriber), student information (name,
  student number, address, etc.). Please also
  indicate which plan or plans you are opting out
  of. The receipt of opt-out will be sent to the
  email address as indicated by the student on the
  form. Please keep a copy of your emailed receipt
  or print it off upon completion of the opt-out
  form.
• DEADLINES FOR OPT-OUT
• Please note the dates that the website will be
  available to opt-out
• August 25, 2008 - September 19, 2008 for
  students beginning in the fall term.
• January 1, 2009 - January 23, 2009 for students
  beginning in the winter term.

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Tuition Minimum Payment Due by September 4th

• All Programs 3,202
• Exceptions to Minimum Payment
• Law 4,977
• Engineering 3,702

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Part II

• Student Funding
• (Government Loans Other)

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New Brunswick Integrated Loan Program
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New Brunswick Integrated Loan Program
Removal of parental and partners income from the
assessment of New Brunswick Student Loans If you
are a dependent student in a program beginning
August 1, 2007 or later, you can choose not to
include your parents income in your application
for financial assistance. If you DO NOT provide
your parents income, the parental/family
contribution will be removed in the calculation
of your New Brunswick Student Loan. Should you
choose not to include this income information,
you will be assessed for New Brunswick Student
Loans only.
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2,000 first-year credit for first-time
university students

• All New Brunswick students enrolled for the first
  time at a
• university and who are attending a provincially
  funded New
• Brunswick university are eligible for a one-time
  benefit of
• 2,000.
• This program is administered by the Department of
  Finance. For
• more information on the eligibility criteria, you
  can visit the
• Department of Finance Website at www.gnb.ca
  (keyword
• Finance).

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Government of New Brunswick Tuition Rebate

• Under the New Brunswick Tuition Rebate, anyone,
  from anywhere in
• the world, who on or after January 1, 2005, pays
  tuition, graduates
• from an eligible post-secondary institution,
  lives and works in New
• Brunswick and pays New Brunswick personal income
  tax, will be
• eligible for a non-taxable rebate of 50 of
  their tuition costs with a
• maximum lifetime rebate of 10,000. As this
  program is administered
• by the New Brunswick Department of Finance, for
  more information
• contact that department at [phone] or
  visit their website at
• www.gnb.ca keyword Finance.

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Nova Scotia Student Aid

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Nova Scotia Student Aid

• Millennium Access Grant for Students from
  Low-income Families
• This grant is available to first-time, first-year
  dependent students whose assessed parental
• contribution is less than 1,000. It will provide
  up to 2,500 to address the amount that the
• assessed costs are not covered through student
  loans and other sources of funding. An additional
  
• 1,000 may be available in place of student loan
  to help support more manageable debt levels.
• Eligibility for this grant is determined during
  the assessment of the student loan application.
• No separate application is necessary.
• Eligibility criteria
• be eligible for student assistance in Nova
  Scotia
• be a dependent student
• be enrolled full-time at an eligible Canadian
  post-secondary institution
• be pursuing undergraduate studies that lead to a
  degree, certificate or diploma where the program
  length is at least two years and the study period
  is at least 24 weeks
• be enrolled in the first academic year with no
  previous post-secondary education and,
• have an assessed parental contribution of less
  than 1,000.

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Nova Scotia Student Aid

• Up-front Grants (TBA)
• 20 of need on NSSL will be issued in grant
  assistance. Details with be
• forthcoming.
• Eligibility for this grant is TBA.
• Stay tuned to the following web site for details
  
• http//studentloans.ednet.ns.ca/

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Ontario Integrated Loan

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Ontario Integrated Loan

• Full-Time Programs Applied for through the
  Full-Time OSAP Application
• The OSAP application is used to apply for
  Canada-Ontario Integrated Student Loan funding.
  Completing an OSAP application allows you to be
  considered for a variety of grants, bursaries and
  scholarships.
• The Canada Access Grant for Students from
  Low-Income Families is worth up to 3,000. It
  assists first-time, first-year students from
  low-income families with tuition costs.
• The Canada Access Grant for Students with
  Permanent Disabilities is worth up to 2,000 per
  year. It assists students with permanent
  disabilities to meet educational and living
  costs.
• The Canada Study Grant for Students with
  Dependants assists students with dependants who
  have high financial need. The value of the
  bursary is dependent weeks of study and number of
  dependents.

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Ontario Integrated Loan

• Full-Time Programs Applied for through the
  Full-Time OSAP
• Application (cont.)
• The Ontario Student Opportunity Grant (Loan
  Forgiveness) is available to help students reduce
  their annual Canada-Ontario Integrated Student
  Loan debt by limiting an eligible student's
  repayable debt to 7,000 for a two-term academic
  year and 10,500 for a three-term academic year.
• The Millennium Bursary is valued at 3,000. It
  assists full-time undergraduate students who have
  high financial need.
• The Millennium-Ontario Access Grant is worth up
  to 3,000. It assists first-time, first-year
  students from low-income and moderate income
  families with tuition costs.

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Prince Edward Island
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Prince Edward Island

• The Millennium PEI Access Grant will provide
  1,000 to each eligible dependent student from
• low-income families to enhance their persistence
  in post-secondary education.
• Eligibility Criteria
• The grant is available to students who are
  dependent students, and
• are enrolled in their second year of full-time
  post-secondary studies, and
• are attending a Canadian post-secondary
  institution, and
• have successfully completed their first year of
  post-secondary studies, and
• have applied for student loan funding with the
  province of PEI, and
• have a financial need as determined by Student
  Financial Services criteria, and
• have a net family income that qualifies their
  family for the full National Child Tax Benefit
  (refer to table). Students must meet ALL of the
  above criteria to receive the grant.
• Students are automatically considered for the
  Millennium PEI Access Grant when they apply for
  student loan funding with the Province of PEI.
  Students receiving this grant will be notified in
  October.

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Newfoundland Labrador
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Newfoundland Labrador

• PROVINCIAL UPFRONT GRANTS
• When will I get my grant? 6 weeks after the start
  of classes if you have submitted a completed
  Income Confirmation Form.
• What if I dont submit my Income Confirmation
  Form?
• You will be deemed ineligible to receive the
  grant portion of your provincial assistance.
• How will I get my grant?
• A cheque will be issued in your name and
  sent to your educational institution (provided
  you are studying within Canada). You should
  contact the financial assistance office at your
  school.

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Millennium ScholarshipsGeneral Awards

• General awards are based on financial need for
  students pursuing post-secondary full-time
  undergraduate studies at public and private
  post-secondary institutions.
• Average bursary is approximately 3,000 but may
  range between 1,000 - 4,500
• Access to this award program is through the
  Provincial Student Assistance Student Loan
  applicationno additional application required.
• Website http//www.millenniumscholarships.ca/en/i
  ndex.asp

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Millennium Bursaries

• The final cohort of students eligible to receive
  millennium
• bursaries will be that attending a Canadian
  post-secondary
• institution in the 2008-09 academic year. No
  student will
• receive a Millennium Bursary after 2009.
• Website http//www.millenniumscholarships.ca/en/i
  ndex.asp

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Entrance Awards and National In-Course Awards

• The millennium excellence awards program
  (including both entrance awards and national
  in-course awards) is Canadas largest national,
  undergraduate merit scholarship program. The
  in-course awards are managed in partnership with
  over 220 post-secondary institutions across the
  country. The scholarships are awarded based on
  community engagement, social innovation and
  leadership, as well as on academic merit. 

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Entrance Awards and National In-Course Awards
(cont.)

• The Foundation will disburse its final entrance
  awards (to students entering post-secondary
  education for the first time) in the 2009-10
  academic year and its final in-course awards
  will be disbursed to students who, while enrolled
  in 2008-09, fulfill the eligibility criteria to
  receive an award in the 2009-10 academic year.
• The last round of applications for in-course
  awards must be received in the Spring of 2009
  (each institution sets its own specific internal
  deadline date) for the academic year beginning in
  fall 2009.

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Entrance Awards and National In-Course Awards
(cont.)

• For laureates with renewable awards who are
  continuing their studies in 2009-2010, the
  Foundation will administer its current renewal
  process during the 2008-2009 academic year. In
  addition, all students who have received offers
  of renewable awards beyond 2009 will receive the
  full amount of the awards promised to them.
• Millennium Grants will continue to be awarded
  until the end of 2009, with the final round of
  applications due in early November of that year.
• Website http//www.millenniumscholarships.ca/en/i
  ndex.asp

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Canada Access Grants for Students with
Disabilities

• Students may be eligible for a Canada Access
  Grant (CAG)
• of up to 8,000 a year to cover exceptional
  education-related
• costs with their disability.
• Eligibility (must have a permanent disability be
  enrolled in a 40 course load for full-time
  students).
• Apply for CSLP and complete a separate
  application form for CAG.

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Canada Access Grants for Students from Low-income
Families

• This grant is available to first-time students
  enrolled in their first year at any designated
  post-secondary educational institution, in at
  least a two-year program that leads to a
  certificate, diploma or degree.  It covers one
  half of tuition costs, up to a maximum of
  3,000.  Eligibility is automatically considered
  when you apply for a  full-time student loan you
  do not need to complete any other paperwork to
  apply. Parents net income must fall within the
  range of entitlement to the National Child
  Benefit Supplement in the previous tax year. 

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Federal Budget Highlights from 2006

• Exemption for income earned while in school is
  increased to 1,700.
• Full exemption is in effect for bursaries and
  scholarships (T4A receipted awards).

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Federal Budget Highlights for 2006

• 2006 tax credit for text books
• The tax credit will be 65 for each month of
  full-time PSE
• study and 20 for each month of part-time study.
  A full-time
• student enrolled for eight months will qualify
  for a textbook
• tax credit amount 520 for the year
  representing a tax
• reduction of about 80. Eligibility rules will be
  the same
• as for the education tax credit.

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Federal Budget Highlights for 2006

• 2006 tax credit for public transit
• Public transit users who have a monthly pass will
  receive a
• tax credit on the cost of their pass. According
  to the budget
• and conversations with Department of Finance
  officials, this
• tax credit applies to all types of public transit
  users including
• students and seniors.

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Student Loan Debt

• Partly as a result of policy changes to
  government student loan programs, and increases
  in the cost of education over time, Class of 1999
  graduates borrowed significantly more than their
  predecessors. To finance their 1999 programs,
  graduates borrowed 20,918 on average, nearly
  5,000 more than the Class of 1996.1
• 1. Page 114, Maritimes Provinces Higher Education
  Commission (MPHEC) Survey of
• 1999 Maritime University Graduates in 2001
  (funded by NB, PEI NS)

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Student Loan Debt (cont.)

• Borrowing in the high range has also gone up
  considerably from the previous cohort, with over
  one quarter (27) saying they had borrowed
  30,000 or more (compared to 12 of borrowers in
  the Class of 1996.)2
• 2. Page 114, Maritimes Provinces Higher Education
  Commission (MPHEC) Survey of
• 1999 Maritime University Graduates in 2001
  (funded by NB, PEI NS)

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Repaying Your Student Loan

• Below is a sample table reflecting what your
  student loan payments MAY be upon graduation.

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National Student Loan Service Centre

• National Student Loan Service Centre (NSLSC)
• Public Service Division
• 1-888-815-4514

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Part III

Financial Aid Office Programs Services
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UNBF Great Computer Give-Away Program

• UNBs Financial Aid Office, Student Union and IT
  Department participate in a computer draw
  program annually. In the fall of 2008,
  reconditioned computers will be provided to this
  needs-based program by UNBs IT Department.
• Eligibility is restricted to full-time UNBF
  undergraduate students with demonstrated
  financial need. Students must also be in good
  academic standing (GPA of 2.0 and over from the
  most recent assessment year or 1st year entry to
  UNB) to be eligible for program consideration.

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UNB Work-Study Program

• Work-Study is a subsidized employment program
  designed to assist financially needy students
  with the high costs associated with
  post-secondary study.
• Students work up to a maximum of 10 hours per
  week at a standard wage of 9.00 per hour (maybe
  10.00 per hour).
• Please contact UNBs Financial Aid Office
  (453-4796) starting end of August, 2008 to set up
  an appointment for a Needs Assessment and
  review program eligibility.

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UNB Special Bursary Program

• Students may be eligible for up to 1,000 in
  bursary
• assistance if they meet the following criteria
• 1. Undergraduate Canadian citizen (or domestic
  student)
• 2. Registered at UNBF on a full-time basis
• 3. Have a demonstrated financial need
• Please contact Financial Aid 453-4796 for further
  information.
• Application deadline November 15, 2008
• Applications will be posted to www.unbf.ca/financi
  alaid/

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University Loan Program

• University loans are low interest short-term
  loans administered
• through the Financial Aid Office
• Eligibility is restricted to full-time students
  who have completed one term of studies at UNB
• Maximum loan per academic year is 800
• Please call Financial Aid Office to schedule an
  appointment.

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Study Abroad Bursary Program

• Bursaries, valued up to 1,500, may be available
  to full-time students completing an international
  student abroad program as part of their degree
  requirement at the University of New Brunswick
  (Fredericton Campus). The award will be
  contingent on the students registration and
  completion of the student abroad program.

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Financial Aid Office Tips

• Do not wait until you are accepted to university
  to apply for governmental loans
• Keep copies of EVERYTHING dealing with the
  governmental loan program
• Document dates (when you applied, sent
  information, etc.)
• If you are unhappy with your loan award, you can
  talk to Financial Aid Office staff about appeals
  for further loan assistance

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IMPORTANT INFORMATION on Dropping Courses

• Advise your son/daughter to contact the Financial
  Aid Office of UNB before dropping courses.
• Most provinces require at least 60 enrollment
  (3/3 credit courses) to maintain loan assistance
  in good standing.
• EXCEPTION NL NS and Students with Disabilities

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AWARDS

• Encourage your child to review financial options
  and resources by applying for
• scholarships/bursaries through UNBs
  Undergraduate Awards Office and UNBs
• Financial Aid Office.
• Scholarships (merit-based)
• Merit-based Scholarships look at academic
  standing or grade point average (g.p.a.).
  Merit-based bursaries also consider financial
  need.
• http//www.unb.ca/scholarships/highschool.h
  tml
• Bursaries (need-based)
• Need-based awards consider financial need first
  and, in some programs, an academic standing of
  2.0 and over.
• http//www.unbf.ca/financialaid/

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Before You Know it
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Graduationand then
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They are you!
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Thank you for your support!

• Treat people as if they were what
• they ought to be and you help them
• become what they are capable of being.
• Author Johann Wolfgang von Goethe