2005/2006 - Registrar - McMaster University

STUDENT FINANCIAL AIDManager, Student Financiat AidWEB ADDRESS:http://sfas.mcmaster.caEMAIL ADDRESS:osap@mcmaster.caTracie Long ,For information on any of the programs which follow, 'please contact:Office of Student Financial' Aid' & Scholarships' ,Gilmour Hall, Room 120 ' ';McMaster UniversityHamilton, Ontario, -L8S 4L8,, 'Telepho,ne: (905) 525-9140, ext. 24319ONTARIO STUDENT ASSISTANCE PROGRAM,. . '.Financial aid to help students meet the costs of post-secondary education isavailable from the federal and provincial, governments through the OntarioStudent Assistance Program (OSAP). The various components of OSAP are:• Canada Student Loans/Canada Study Grants• Part-time Canada Student Loans/Canada Study Grants' for High-Need, Part-time Students . ,• Ontario'Student Loans• Ontario Special Bursary Plan• Ontario Work-Study ,• Child Care Bursary• Bursaries' for Students with Disabilities• Queen Elizabeth II (Aiming f6r the Top) SchQlarship• MillenniumBursary ,. To be eligible to be consideJedfor assistance under these OSAP programs~a student must be a Canadian' citizen, permanent resident ofCanada or a protected person; must meet Ontario residency requirementsand mu~t meet the specific application requirelTlents of the program~The ambunt of financial aid awarded'is based on financial need.It is strongly recommended ,that students apply for OSAP at http://osap.gov.on.ca by July 15 to ensure that their applications are processedby' the start of classes. "All of the government programs described in this text are modified andrestructured annually to reflect the changing needs of students from theProvince of Otitari,o. It is, therefore, recommended. that you discuss yourspecific financial requirements with. a Student Loans and Awards Officerin the Office of Student 'Financial Aid & Scholarships as ea~ly as possible.~anada Student loansThis federal government plan, administered by the, provincial government,provides loans to students demonstrating financial need, who areenrolled in at least 60% 'of a full course load (students with permanent,disabiiities may enrol in 40% of a full course load) per term in an ap~proved degree, diploma or certificate program of at least 12 weeks' in, length at a ministry approved educational institution (anywhere in theworld) gnd have passed a credit check. The Govl?rnment of Canada, pays the interest on the 'loans while the student is studyingful1-time~'Part-Time Canada Student LoansThe federal government 'also provides Canada Student Loans for part-,time students demonstrating financial need, who are enrolled in 20-59%of a full course load, (students with permanent disabilities may enrol in20-39% of a full course load) per term in courses leading to a degree,diploma or certificate in an' approved program at a ministry ,approvededucational institution. Part-time Canada Student Loans assist with astudent's allowable costs for tuition, books, transportation, day care and'incidentals and are interest-bearing after 30 days., Repaymentresponsibilitiesbegin within 30 days of negotiating the loan.Canada Study Grants are available to high need part-time students whoare studying part-time for very specific reasons (inability to attend fulltime).Students submitting part-time loan applications will be assessed, ., for grant eligibility.'Ontario: Student LoansOntario Student Loans provide loans to f'uil-time students whose financialneeds are not fully .covered' by Canada Student ,Loans, To be considere,dforOntario Student Loans, students must meet the criteria outlinedSTUDENT FINANCIAL AID 317under the Canada Student Loans Program (above) and OSAP's Ontarioresidency requirements. Ontario Student Loans are only available to studentsenrolled in an approved program at an approved public universityor college of applied arts and technology in Canada,' or an approvedprivate post~secondary institution in Ontario .. The provincial governmentpays the interest on the loans while the student is studYing full-time.; Ontario Special Bursary PlanThis plan helps students who demonstrate exceptionallevelsqf financial;heed who are unable to attend school full-time. Bursaries are available toeligible. part-time students enrolled in approved programs at recognizedpost.:.secondary institutions in' Ontario only. Students m!Jst be workingtowards their first post-secondary degree, diploma or certificate.Ontario Work-StudyThe Work-Study Program provfdes part-time jobs during th~ school, yea (to students who demonstrate financial need to help them meet their, education-re.lated costs.' It ~Iso helps students who lack the resourcesexpected under OSAP criteria or, who have an assessed need under,OSAP which is not met because of loan maximums or, who do not wishto borrow further'due to high debt load. Costs of this plan are shared bythe provincial government and McMaster University.Child Care BursaryThis plan is intended to assist full-time students who have applied toOSAP and who demonstrate financial need. Eligible students must have 'three or more chil9ren, 11 years of age and under. 'Bursaries for Students with DisabilitiesThis plan is intended to assist students with disabilities, 'who demonstratefinancial need, to meet disability-related costs related to their participationinpost-secondary education. For more information, contactthe Centre for Student Development at http://csd.mcmaster.ca/. 'Canada Study GrantsCanada Study Grants are funded by the federal government and administeredby the provincial government, through the. Ontario StudentAssistance Program (OSAP). Policies regarding eligibility and amounts ',are estabiished by the federal government and procedures on how toapply are established by the province of Ontario.Canada Study Grants include the following: '• Canada Study Grant for Students with Dependents• Camida Study Grant fo'r Students with Permanent Disabilities ,• Canada Study Grant for High-Need Students with Permahent Disabilities,• G.anada Study Grant for High-Need Part-time, Students• Canada Study Grant for Women in Doctoral Studies\ All Canada Study Grants are non-repayable and taxable.Queen· Elizabeth II (Aiming for the Top) Scholarship. The Queen Elizabeth II (Aiming for the Top) Scholarship is designed to 'recognize students who have shown academic excellence at the high, school level and to assist students: with financial need. The value ofthe scholarship varies between $100 and $3,500 per academic year.You may be considered for a Queen Elizabeth Ii (Aiming for the Top)Scholarship if you:• attend ariOntario' high school in 2004/2005 and achieve academicexcellence;• are an Ontario resident (as defined by OSAP);., apply to attend an Ontario university, through the Ontario Universities'Application Centre, or a college of applied arts and technOlogy through, the OntariO College Applic"Hion Service, or apply to attend another Ontariopost secondary institution (e.g. a private career college) that isapproved for' the purposes. of this scholarship;• will be a full-time post-secondary student in the 2005/2006 academicyear; and• meet .aU other application requirements/deadlines.Millennium BursaryThe Canada Millennium Scholarship Foundation Bursary is available forfuU::.time students who have the highest assessed need, as determinedby the Province of Ontario, and who meet all of the program's eligibilityrequirements .. ' Details on the eligibility requirements are available on theCanada Millennium Scholarship Foundation web sHe at http://.www.millenniumscholarships.ca. The value ofthe burs,ary is $3,000.