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$$$$$$$$$$$$$$$$$$$$$$$$
Financial Planning College/University Presentation 2014-
15
BUDGETING YOUR FIRST YEAR
HOME RESIDENCE OFF-CAMPUS(RENTING)
FANSHAWE $7,730 $14,440 $14,450
WESTERN $14,765 $23,110 $22,190
The following information will help you to discuss your finances:
parents/spouses and students should determine in detail all realistic needs and available resources.
clearly decide which expenses you will be responsible for and which ones your parents/spouse will cover
for single students, decide whether your parents will provide money in September/January or on a monthly
basis.
establish if these funds will be put into a chequing/savings account or a cheque mailed to you monthly.
will you apply to live in residence or in off-campus housing?
will you live with your parents? Single students who live in the same city or town as the campus they are attending are expected to reside with their parents. The Ontario Student Assistance Program (OSAP) will not provide a living away allowance for you.
for all students, will you need to apply for OSAP? a financial institution line of credit?
“Adding up the Investment” Fanshawe College, 2012 /13
Fanshawe College 2011/12
Home Renting Residence
Tuition $3560+ $3560+ $3560+
Books and Supplies
$1600+ $1600+ $1600+
Computer Related Expenses
$500 $500 $500
Housing $0 $4720 $6710 (includes meal plan)
Food $400 $2400 $400
Entertainment (34 weeks, $30 a week)
$1020 $1020 $1020
Clothing $400 $400 $400
Misc. (trips home, medical, etc)
$250 $500 $500
Total $7,730 $14,450 $14,440
Where the money comes from.
$
Research Your Financial Plan
Talk with your family.
Visit the guidance office.
Listen to morning announcements.
Search online scholarships and bursaries.
Search post secondary institutions’ websites and financial aid publications.
Go to your local bank and discuss options.
Paying for Your Education Part-time job
Education Savings
Bursaries (a cash award that is based primarily on financial need, but academic standing may also be considered)
Scholarships (academic achievement, volunteer work etc)
Websites
scholarshipscanada.com
studentawards.com
Many bursaries and scholarships go “unawarded” as
students don’t apply
Paying For Your Education Loans (borrowed funds that must be paid back, often with interest)
Bank Loans
OSAP – Ontario Student Assistance Program http://osap.gov.on.ca
Listen to the announcements regarding financial aid information.
Plan Ahead
Free Money
Grants
Bursaries
Scholarships
Helpful Websiteswww.canlearn.ca
http://osap.gov.ca
www.scholarshipsCanada.com
www.studentawards.com
www.osca.ca
USE THE RESOURCES AT YOUR SCHOOL
FINANCIAL AID OFFICES
COUNSELLORS