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) Check balance via myTrent portal – Statement of Account

May 28th Summer Term Fees Due (OSAP/sponsored) Check balance via myTrent portal – Statement of Account

Student Accounts Office

Email: studentaccounts@trentu.ca

Phone: 905-435-5100 ext. 1317

OSAP Application Deadline Dates• Fall Only – NOVEMBER 1• Fall/Winter – MARCH 1• Fall/Winter/Summer – JULY 2

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https://ontario.ca/osap

What is 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

• 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

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OSAP - Last Steps

Funding Your Post Secondary Education

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Your OSAP Estimated Funding

Funding Your Post Secondary Education

Funds are released:

• Automatically to school to pay fees

• You are responsible for ensuring school fees are paid in full

Scholarships/Awards & Income – What do I report to OSAP?

Income or Award Report to OSAP

Scholarships/Fellowships Award YES

Supervisor Support/TA Income YES

Employment Income Income YES

Ontario Graduate Scholarship (OGS) &Trent Bursaries

Award NO – Trent reports

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• 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…

OSAP – Key Points

• Scholarships & Bursaries• Discussed previously

• Income

• Income for prior year

• Expected earnings while in school

(employment) including TA

• Any Government Assistance (OW,

ODSP, EI)

• Non-taxable income such as child

support

Changes to OSAP – submit OSAP Change form online via myTrent portal under FINANCES tab

• 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 manage 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

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National Student Loans Service Centre

Frequently Asked Questions

• What are possible reasons OSAP funding could be delayed?

Not registered – incomplete paperwork

• How can I select the ‘NO LOAN’ option on OSAP?

Click on the Funding Screen – grant only

• Continuation of Interest Free Status – what is this?

If you have previous loans & aren’t taking any this year complete a confirmation

of enrollment form on the OSAP website and will update National Student Loans

• How is OSAP distributed if I am studying Fall – Winter & Summer?

60% in the fall and 40% in the winter – Do a 12 month budget with your funding

• Are scholarships considered employment income?

No it goes under Award Income

• How do students report Supervisor support?

Earned Income – same as other employment income

• How do I update OSAP if I finish early?

OSAP change form – MyTrent under finance tab

Frequently Asked Questions Continued

• Restrictions – how do they happen? – example – income variance or lifetime limits

Income Variance caused by not updating change in income – CRA verifies and the restriction can

be either a 3 three year or a 5 year

Lifetime Limits for OSAP funding: 340 weeks for Master student and 400 weeks for Phd.

- remember interest free periods are counted

• 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!

How to Prepare

Trent’s Financial Aid Office

Phone: 705-748-1011 ext. 1524

Email: financialaid@trentu.ca

Web: www.trentu.ca/studentfinances

Thank you for attending!