1. EastwoodCollegiate Institute Financing Your Future

2. Today 1) An Overview of Costs 2) Finding Money: Scholarships Awards Bursaries OSAP Private Loans

3. The Cost of a Post-Secondary Education • A rough estimate: • Tuition (will vary wildly by location and program) $2500-7000 • Other Fees (student association, supplementary, etc.) $500-2000 • Books/Computers (will vary with the program) $600-2500 • Accommodation (varies wildly) $0-6000 • Food (will vary with school residence and location) $1,500-4000 • Entertainment (movies, trips, music, etc.) $3,000??? • Utilities (phone, cable, Internet, etc.) $700 • Transportation (will vary with location to campus) $0-800 Totals: $8800-26000 • See the point? Do some research to find out how much YOUR program will cost.

4. Budget? • Multiplying $8800-$26000 times 2-5 years (remember we are only looking at undergraduate here) isn’t a complete picture • Consider the impact of Co-Op placements, part-time jobs, research positions, summer jobs, emergencies, etc. • Add in scholarships, awards and bursaries…

5. You need to sit down… • …and budget the big picture. • Goal isn’t to have a stressful “10 year plan” but rather just to know the parameters. 1st Get a rough idea for the total cost 2nd Estimate what you are hoping to bring in through various sources. 3rd Then look at starting salaries for paying off any potential debt

6. What do they make? Actor / Actress: $18,942 Advertising Manager: $70,495 Chef: $29,977 Civil Engineer: $68,813 Dentist: $85,842 Doctor: $69,062 Ecologist: $43,894 Lawyer: $81,774 Pilot: $73,622 Plumber: $49,328 Police Officer: $75,913 School Teacher: $58,589 *Say “baloney” to these kinds of charts! (Averages vs Medians vs starting salaries, etc.) Do some research to find the ‘real’ answers.*

7. Awards vs. Scholarships vs. Bursaries vs. Loans • Award: An award is given in recognition of outstanding achievement. Awards may come in the form of books, plaques, subscriptions, or money. A monetary award usually called a bursary or scholarship. • Scholarship: A non-repayable sum of money awarded to a student to help finance further education. Most scholarships are based on merit in areas ranging from academic achievement to athletics. Usually, scholarships are not based on financial need. • Bursary: A non-repayable grant of money, bursaries are awarded primarily based on financial need, but academic achievement is also considered. Usually, the applicant must provide detailed documentation describing their financial situation when applying for a bursary. • Entrance Award/Scholarship: A scholarship or award given to a student entering his/her first year at a post-secondary institution. Also referred to as an Admission Award. • Loans are money given to you that you will need to pay back overtime and at different rates of interest. Pay close attention to the difference between OSAP and Private loans.

8. There isn’t such a things as a “Standard” Scholarship… • Entrance scholarships are for student going into college or university, graduate scholarships are for students doing their master’s or doctoral studies • Automatic consideration scholarships mean you don’t need to apply yourself • Some scholarships are awarded mid-way through your studies (in years two, three or four) and some are awarded at the end of your studies (upon graduation). • There is an award for you - there is over $50 million in entrance scholarships available* • You don’t need to have high marks - many awards (83%) do not require an academic average at all (*this statistic from Schoolfinder Group) • You don’t need to be in financial need - only 26% of the awards in the database require you to be in financial need* • Keep searching throughout the year - awards have deadlines throughout the year • You can’t win an award if you don’t try - many awards have few applications

9. It’s all legwork… • Look beyond colleges and universities for awards - there are over 1,000 award providers; the majority of which are companies, associations and other non-educational organizations. For example Ringette Canada offers two scholarships for any Canadian student who plays ringette. The Multiple Sclerosis Society of Canada offers scholarships at the Doctoral level. • The largest award on the website is the International Fulbright Science and Technology Award for PhD studies at a US university over three years = $180,000. • Other big awards include the TD Canada Trust Scholarship for community service which is worth $70,000 over four years at the undergraduate level. Or the Avie Bennett Visionary Leadership Scholarship worth $38,000 over four years for permanent residents of Brampton. • 46% of the scholarships do not require a specific field of study. 9% are business related, 8% are humanities, 7% are engineering and 7% are creative arts, 6% are community services, followed by computer studies and medical programs at 5%.

10. Typical “Criteria” • Year of Study (entrance, first, second, third, fourth, final year, graduate) • Special Circumstances (amputee, brain injury, orphan, parent, etc.) • Financial Need (pertains to your income, check with the scholarship administrator for more details) • Academic Average (usually your last year of study marks) • Heritage (Aboriginal, Chinese, Polish, etc.) • Field of Study (the program you’re interested or currently in) • Affiliation (companies, religious groups, unions, and associations, that you or your family are affiliated with) • Activities (sports, religious, academic, leadership, community involvement, etc.) • Location (where you live and go to school)

11. Where to start? • www.scholarshipscanada.com • www.studentawards.com • www.ontarioscholarships.ca

12. Most Crucial Step… • Think outside the box. • What were those ‘typical criteria’ and how can you find some hidden awards by being a little proactive? • Best advice… ask everyone under the sun if they have heard of anything that could help you!