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FINANCIAL PLANNING

FINANCIAL PLANNING. The Five W’s. Who…. gets the scholarships? What… do you have to do to win the money? When… do you have to apply for these scholarships? Where… do you look for these scholarships? Why… would you spend your time doing so? How… do you get started?.

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FINANCIAL PLANNING

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  1. FINANCIAL PLANNING

  2. The Five W’s. • Who…. gets the scholarships? • What… do you have to do to win the money? • When… do you have to apply for these scholarships? • Where… do you look for these scholarships? • Why… would you spend your time doing so? • How… do you get started?

  3. What to expect with Fees: Tuition (including incidental fees) • $4,000 per year for college diploma programs • $6,700 to $17,000 per year for bachelor degree programs (at universities or colleges) Additional costs include: • Books--$1000 to $2000/year • Parking/transportation • Coop fees

  4. Residence: On versus Off On Campus • varies based on style of accommodation and type of meal plan • Approximately $10,000 for residence and food for two semesters of study Off Campus • U of W website • $6,000 and up for rent, plus utilities, groceries

  5. Realistic Estimates (2 Semesters away from home) • $22,000 to $30,000 per year for University studies • $18,000 to $22,000 for College studies

  6. Why look for Scholarship Money? • How much money can you make during a 3 to 5 hour shift at work?

  7. $$$

  8. Who gets the money? • The person who: spends at least three to five hours doing the research. has worked hard at their academics, community service and leadership activities. has the ability to answer essay questions in a succinct and intelligent manner. can meet deadlines.

  9. FINANCIAL PLANNING 101 • Scholarships: awarded based on academic excellence, school & community involvement, leadership abilities and essay writing • Bursaries: awarded based on financial need and community involvement • OSAP- Ontario Student Assistance Program: used to supplement, not replace, family resources *OSAP is completed on-line and sent to the school you will be attending (usually done in the Spring – after you accept an offer!)

  10. Scholarship Factors: • Financial Need • Academic Average • Special Circumstances • Heritage • Affiliations • Activities • Volunteer Work • Field of Study • Year of Study • Location

  11. What do you have to do? 1. Begin your research: * treat it like another course or part-time job 2. Create a resume before you begin your applications: * include all academic, community volunteer, and extracurricular activities; indicate leadership examples. 3. Have three key people ready to write reference letters for you: * a teacher, counsellor or activities person * a community or church member * an employer or supervisor Supply these individuals with the scholarship criteria and your resume!

  12. Internet Resources • www.studentawards.com • www.scholarshipscanada.com • www.osca.ca • College and University websites • School database (binders in the E.D.S.S. guidance office) • Each scholarship listed will indicate: total money awarded, criteria, contact information, due date and link to download application

  13. MORE TIPS • : • Know your strengths and assets • Anything that makes you different from others is important • Reuben Cleghorn Bursary is available only to university bound students from E.D.S.S.: * must be financially needy * must have applied to OSAP * applications available in guidance • Have someone edit your application/essay questions…now is NOT the time to be humble.

  14. NOMINATED SCHOLARSHIPS • Some scholarships require a school nomination • You must fill out a Profile Form to be considered for these scholarships * forms are in the guidance office (blue sheets) * submit form to your guidance counsellor

  15. What should I do now?

  16. Facts: a lot of scholarship money is not available to you until you are attending a college or university A lot of money is not awarded – due to low or unsuitable applications Regular visits to the financial aid office at your school of choice is very beneficial!

  17. When are you finished searching for money? … . . .when you are finished your post secondary education!

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