FINANCIAL ASSISTANCE YOUR FIRST STEP!

Need money to study? Trying to find a straight and simple path through all the confusing financial aid information being shared? Cannot find that perfect all knowing person to help you? Look no further. We are here to help.

yorku.ca/moneymatters

ARE THERE OTHER WAYS TO SAVE MONEY? The Canadian tax system offers Canadian citizens and permanent residents considerable advantages while they are studying (cra.gc.ca). • Claim non-refundable tax credits – tuition, transit passes, textbooks, student loan interest; apply these costs against your employment income to save. • Apply for scholarships, fellowships, bursaries, study grants – they are usually tax free! • Report Education Assistance Payments from your RESP – only that part is taxable; contributions refunded to you are tax free. • Claim moving expenses – if you move more than 40km for a summer job, you can deduct these costs against your moving employment income. Visit your bank to see if they offer any other support to students – maybe they offer tax free savings accounts or relief from bank service charges; it is worth asking.

MYTH: I do not want to be in debt; therefore, I am not going to apply for financial assistance such as OSAP. FACT: Students are often eligible for grants (money that typically does not have to be paid back) in addition to loans.

WHY WAIT IN LINE? Assessments (or reassessments) cannot be completed on the spot; therefore, do not stand in line at Student Client Services to drop off documents. Place them in the drop box located on the main floor of the Bennett Centre for Student Services. Drop boxes are secure and cleared twice a day by Student Financial Services staff. Everything you submit will be reviewed and assessed in the order it is received. Check that we have received your documents at the Financial Document Tracker (sfs.yorku.ca/services/tracker).

Mailing address for financial aid documentation Student Financial Services - York University Bennett Centre for Student Services 4700 Keele Street Toronto, Ontario M3J 1P3 Canada

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APPLYING FOR U.S. GOVERNMENT FINANCIAL AID? I AM A U.S. CITIZEN; WHAT TYPE OF FINANCIAL AID IS AVAILABLE TO ME? U.S. citizens and permanent residents studying in an undergraduate or graduate program at York University can apply for York University scholarships (sfs.yorku.ca/scholarships). You can also apply for Direct student loans from the US government, and private loans at sfs.yorku.ca/aid/usloans. FAFSA (FREE APPLICATION FOR FEDERAL STUDENT AID) APPLICATION PROCESSING DATES • New loan applications cannot be completed until final acceptance to York University has been confirmed. • Processing of applications for the upcoming academic year begins in July and takes 6 weeks to process. • Students must submit their required documentation to Student Financial Services by June 30 to ensure the timely release of their loan documents. • Loan applications received in late August and September will be delayed; therefore, apply early. If your loans are delayed, outstanding student account balances will be subject to late charges.

FAFSA APPLICATION STEPS: CHECK OFF EACH ITEM AS YOU SUCCESSFULLY COMPLETE IT ❑ Complete the FAFSA form (York University school code is G007679) at studentloans.gov ❑ Complete the online Master Promissory Note (MPN) form at studentloans.gov. Your electronic signature is required. You must complete a new MPN each year you apply for financial aid to ensure funds will be available to complete your studies. ❑ Complete the Direct Loan Entrance Counselling and PLUS Loan counseling if applicable at studentloans.gov as required by the US Department of Education

❑ Complete the US Student Information Form at sfs.yorku.ca/aid/usloans and submit all documentation to Student Financial Services by: • fax to 416-736-5386 • mail to the address on the back of this brochure • place it in the drop box located in the lobby of the Bennett Centre for Student Services (the building is open 24 hours a day). ❑ If you require an award letter for your VISA please make your request at [email protected]

OSAP APPLICATION STEPS: CHECK OFF EACH ITEM AS YOU SUCCESSFULLY COMPLETE IT ❑ Complete and submit the online OSAP application (osap.gov.on.ca) at the OSAP Web site. If you apply and/or submit forms/documentation late, funds will not be ready until later in the term. Submission timelines are outlined in this brochure. ❑ Remember, when applying, identify York University as your university; OSAP funds cannot be transferred from one school to another. ❑ Print off the signature forms as required and make sure that all signatures are included on the forms. If one signature is missing, your application cannot be processed and your assessment will be delayed. This means you will not get a decision within the six to eight week timeframe. ❑ Once you have completed your online application, there may be a list of necessary documentation that you need to attach to the signature forms (such as permanent resident papers, residency explanation, marriage certificate etc.). Your loan document and assessment will not be available if any information remains outstanding. ❑ Submit the completed signature forms and supporting documentation to York University by placing them in the OSAP drop box located just inside the southwest entrance of the Bennett Centre for Student Services (the building is open 24 hours a day) or by mailing them to Student Financial Services. It is not necessary to stand in line at Student Client Services to submit your documents.

❑ Remember, make sure all your documents and letters are signed, dated and show your York student number. ❑ Once you have applied online, return regularly to your OSAP application on the OSAP Web site to do the following: • check the status of your application; • check for any new outstanding and necessary documentation; • check for any instructions on what needs to be done next; • update your mailing address to make sure you receive all correspondence promptly; • check on the amount of loans, grants and/or government bursaries that have been issued for your current year and also for past years if you are a returning student. ❑ Send in an appropriate change request form if your circumstances change. Processing changes takes approximately six to eight weeks. Use the forms that are available online at sfs.yorku.ca/aid/osap/changes

Changes in your personal situation, such as course adds/drops, personal income changes, parents’ employment changes, a change in your marital status etc., will likely result in modifications to your OSAP assessment and in a possible change in eligibility/entitlement.

MYTH: You do not have to pay your university fees until the end of the year or maybe even after graduation. FACT: If you are having trouble paying your fees, choose another path, including applying for financial aid and/or seeking part-time employment.

WHAT TYPE OF FINANCIAL SUPPORT IS AVAILABLE? York offers undergraduate and graduate scholarships and bursaries as well as employment opportunities. For graduate students, different types of assistantships may be available. Visit sfs.yorku.ca/employment for details about Research at York (RAY), Work/Study, College Life at York (CLAY), and York Engaged Students (YES) programs. Being a large urban University, our students may also find part-time jobs on-campus in the Greater Toronto Area. Provincial and federal governments offer grants and loans, and local banks offer loans as well as lines of credit. Become familiar with and apply for tax credits for which you may be eligible. It is worth your time (and money) to explore all the options. HERE ARE JUST A FEW OF THE OPTIONS: • Ontario Student Assistance Program (OSAP) • Provincial financial aid programs (Canadian provinces) • York University scholarships and bursaries • U.S. loans • Funding for international students MYTH: Financial aid is only for people who are not living at home. FACT: Financial aid is available to people in all kinds of situations, even if you are living at home with your parents; the only way you will know if you are eligible for support is by applying for assistance.

APPLYING FOR GOVERNMENT FINANCIAL AID IN ONTARIO? If you are an Ontario resident and a full-time student, apply to the Ontario Student Assistance Program (OSAP) for a loan and/or grant. For complete OSAP information including required documents and access to the application, visit the OSAP Web site at osap.gov.on.ca HOW MUCH OSAP WILL I RECEIVE? The best estimate, although not a guarantee, is provided by the online OSAP estimator; go to osap.gov.on.ca/AidEstimatorWeb/enterapp and click on the green button called “What financial aid is available to me?”

HOW LONG DOES IT TAKE TO PROCESS AN OSAP APPLICATION? It takes a great deal of time and careful review to ensure your OSAP is accurately assessed. Here is an OSAP service turnaround chart to assist you with your budget planning.

FALL/WINTER SESSION

SUMMER SESSION

No later than the end of June

Loan document available for pick-up in September/October

No later than the end of March

Loan document available for pick-up in May/June

From July to the end of October

Loan document available for pick-up a minimum of six weeks after the submission of all material

From the end of March to June 30

Loan document available for pick-up from June to mid August depending on the start of your classes

From November to no later than 90 days before the end of the fall/winter session

Loan document available for pick-up a minimum of six weeks after the submission of all material

Student submits application with all required signature forms and all supporting documents

To find out if your loan documents are ready for pick-up, check the Financial Document Tracker at sfs.yorku.ca/services/tracker. An appointment is necessary for all document pick-ups.

GET ADDITIONAL SUPPORT THROUGH THE UNDERGRADUATE BURSARY PROGRAM If you are waiting to hear back about your government financial aid assessment or have received it but require additional support, apply for a York University Bursary using the online Student Financial Profile (SFP) located at sfs.yorku.ca/services/sfp If you have made changes to your government financial aid application and funding has been delayed as a result, speak with a Student Client Services representative about funding options for immediate and urgent financial needs.

WHAT IF I AM A CANADIAN CITIZEN WHO IS COMING TO YORK FROM ANOTHER PROVINCE? Students who are from other provinces are required to apply for financial aid through their provincial government; learn more online at sfs.yorku.ca/aid/outofprovince AS AN INTERNATIONAL STUDENT, WHAT ARE MY OPTIONS? Ontario and Canadian government financial aid are not available to international students; however, many scholarships are available to both domestic and international students. Check online for details at international.yorku.ca/intlstud/funding/funding.htm