Registrar s Office REGISTRAR S OFFICE FINANCIAL AID SERVICES
UNDERSTANDING YOUR EXPENSES When planning your post-secondary budget, it is essential to understand the kinds of expenses you will have during an academic year. Estimating the cost of a year at Algonquin College varies from student to student and depends on many variables such as your program of study, your living arrangements, household expenses, transportation costs and your personal spending habits. The following chart will give you an idea of average college expenses: Average Annual College Expenses for Two Terms: Tuition and College Fees $3,600.00 Incidental Fees, Books and Supplies $1,500.00 Program costs vary so be sure to check the program information online for details.. Average Living Expenses for Two Terms (Eight Months) Accommodations (residence or apartment) $6,400.00 Utilities 500.00 Phone/Internet 550.00 Food 1,800.00 Clothing 650.00 Transportation 800.00 Miscellaneous 800.00 TOTAL BUDGET FOR TWO TERMS: $16,600.00 IMPORTANT: The costs presented are estimates only. There are different forms of financial assistance available to help you finance these college expenses. Become familiar with government assistance programs such as OSAP, the Algonquin College Bursary Program, campus employment opportunities, as well as scholarships and awards offered for academic achievement. Financial Aid Services at Algonquin College can offer advice on all of these options. Additional information on financial planning is available on the following websites: www.osap.gov.on.ca www.canlearn.ca www.debtfreegrad.com
GOVERNMENT ASSISTANCE PROGRAMS Ontario Student Assistance Program (OSAP) www.osap.gov.on.ca OSAP is a federal/provincial financial aid program intended to help eligible full-time Ontario students cover the cost of post-secondary education with student loans and grants. It is a needs-based program meant to supplement the resources provided by you, your parents or your spouse. The amount of OSAP assistance you receive depends on your calculated financial need using a formula that compares your educational costs against the expected contributions from your parent or spouse and your own income and assets. The OSAP application is used to apply for Canada- Ontario Integrated student loans, as well as a variety of grants, bursaries and scholarships such as: Canada Student Grant for Persons with Permanent Disabilities Canada Student Grant for Persons from Low-Income Families Canada Student Grant for Persons from Middle- Income Families Canada Student Grant for Persons with Dependents Ontario 30% Off Tuition Grant Ontario Access Grant Ontario Access Grant for Crown Wards Ontario Distance Grant Commuting Ontario Distance Grant Travel Bursary for Students with Disabilities Ask our Financial Aid staff about other OSAP-Related funding such as: Child Care Bursary Ontario Student Opportunity Grant
Refer to the OSAP website at www.osap.gov.on.ca for information on how to apply, eligibility criteria, how OSAP is calculated, non-repayable grants and bursaries, how you receive your funds, when the funds are released and how to calculate your loan payments. Ontario Tuition Grant (OTG) If you are a student entering a public college or university, the OTG is money you don t have to repay. You can apply for the grant through the OSAP portal. If you apply for an OSAP loan, you will be automatically considered for the grant. For more information on the grant including eligibility, visit the OSAP website at www.osap.gov.on.ca, click on A-Z List of Aid in the left side menu and select Ontario 30% Off Tuition. Part-Time Canada Student Loans and Grants Part-time students at Algonquin College may qualify for financial assistance for direct educational costs (i.e. tuition and books) through this federal loan program. In addition, low-income students may be eligible for the Part Time Canada Study Grant and disabled students may qualify for the Canada Student Grant for Persons with Permanent Disabilities. For more information and to complete the online application form, visit www.osap.gov.on.ca and click on Part Time Students. Additional information can also be found on our website at. Ontario Student Access Guarantee Bursary Algonquin College partners with the provincial government to provide the Ontario Student Access Guarantee which ensures that bursary assistance is available to supplement the OSAP funding for eligible students.
GOVERNMENT ASSISTANCE FROM OUTSIDE ONTARIO financial-aid/student-loans Financial Aid at Algonquin College is also responsible for distributing approved funding from other provinces and territories for eligible students. For links to the websites of government assistance programs outside Ontario, visit our website at and click on Student Loans in the right side menu. BURSARIES financial-aid/bursaries Financial Aid Services administers the Algonquin College Bursary Program for enrolled full-time and part-time students. To qualify for a bursary, students must submit an application form that clearly demonstrates financial need, including a budget listing resources and expenses. All bursaries are listed on our website. When the application form becomes available, a link to the form is made available next to the bursary title. The application form contains instructions and the eligibility criteria. A number of organizations, companies and benevolent agencies outside the college also offer bursaries to qualified students that are administered by Financial Aid Services. www.algonquincollege/bursaries bursaries@algonquincollege.com
TUITION FEES PAYMENT DEADLINES AND FEE DEFERMENT tuition-and-expenses/fees-due-dates payment-options The deadlines to pay for each term are as follows: Fall term June 30th Winter term November 15th Spring Term April 1st OSAP and other government loans and grants are not issued to students until after the start of term. If you have applied for OSAP or other government financial assistance, you can defer your tuition payment until the end of the first month of classes. OSAP recipients must apply for a fee deferral online through ACSIS. Out-of-province students must complete a paper application through Financial Aid Services. For more information, eligibility criteria, application method and fees charged for this service, visit our website at and click on Pay in the top menu and then select Payment Options.
CAMPUS EMPLOYMENT OPPORTUNITIES Financial Aid Services participates in the administration of the College Student Employment Program (CSEP). For more information and the application form, visit our website: and scroll to the bottom of the page. SCHOLARSHIPS/AWARDS financial-aid/scholarships-awards At Algonquin College, scholarships, prizes and awards are given to enrolled students in recognition of academic excellence. These awards can be monetary or in the form of plaques, medals or any combination thereof. For a listing of awards and contact information, visit our website at. RELATED WEBSITES: www.scholarshipscanada.com www.studentawards.com www.canlearn.ca www.debtfreegrad.com
HOURS OF OPERATION Monday Friday 8:30 a.m. 4:45 p.m. Summer Hours Monday Friday 8:00 a.m. 4:00 p.m. Note: General information on Financial Aid Services is available after hours at the Welcome Station, Monday to Thursday from 4:30 p.m. to 7:00 p.m. IMPORTANT: Information in this brochure is subject to change without notice. For up-to-date information, visit our website at. Financial Aid Services 1385 Woodroffe Avenue Room C225 Ottawa, ON K2G 1V8 Tel.: 613-727-0002 Toll-free: 1-800-565-4723 Fax: 613-727-7604 Email: Web: Email: bursaries@algonquincollege.com Web: www.algonquincollege.com/bursaries Last updated: May 20, 2014 Registrar s Office