S TUDENT F INANCIAL S ERVICES Student Loans 2014-2015 Academic Year - - PowerPoint PPT Presentation
S TUDENT F INANCIAL S ERVICES Student Loans 2014-2015 Academic Year H OW M UCH D O Y OU N EED ? Costs - Resources = Need Tuition Summer Earnings You may or Fees Savings may not Books Parents Contribution receive what Living
Student Loans 2014-2015 Academic Year
Costs - Resources = Need
Tuition Fees Books Living Allowance Travel Allowance Computer ($300) Summer Earnings Savings Parent’s Contribution Scholarships Part-time Income You may or may not receive what you ask for.
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$2,000 in Grant in two disbursements - $1000
$8,000 for services and equipment (separate
Tutors / Note Takers Computer Software
Each UPEI Course
Tuition UPEI 1Year
Fees UPEI 1 Year
TOTAL UPEI (approx.)
Holland College 1 Year (approx.) $3,500 - $5,750
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Most of you should make approximately $3,000
$10 per hour X 30 hours = $300 per week $300 X 10 weeks = $3,000
The Minimum Student Contribution is
Basically you have to save HALF of what
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Books and Supplies
Computer Costs
Travel Allowance
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PE NL NS NB QC ON MB SK AB BC Single Student Living at Home
$467 $425 $460 $446 $464 $476 $483 $477 $515 $491
Single Student Living away from Home
$936 $928 $988 $930 $988 $1145 $1048 $1100 $1079 $1178
Single Parent (not including dependent)
$1212 $1242 $1308 $1245 $1254 $1483 $1233 $1479 $1338 $1500
Married Student and Spouse (not including dependent)
$1861 $1851 $1979 $1853 $1798 $2192 $1950 $2143 $2079 $2328
Each Dependent
$483 $428 $510 $468 $509 $609 $565 $508 $566 $629
as living at home
Wages ($110 per week is forgiven) Scholarships (the first $1,800 doesn’t count) RESP/Trust Fund (divide by the length of
Pension (if receiving parent’s CPP or other) Investments (line 120 and 121 of taxes)
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Wages @ $110 x weeks of study UPEI is 34 weeks
$3,740
HC is 37 weeks
$4,070
Anything over this is considered extra and should be
almost entirely used for educational expenses.
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Scholarships First $1,800 doesn’t count. The rest is dollar for
dollar.
Trust Fund - divide total in fund by number of
CPP approximately $230 a month
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www.studentloan.pe.ca
Contribution is based on family size, income level, and
RESP/Trust Fund is substituted for all or a portion of
$2,200 for UPEI students $1,200 - $2,200 for Holland College Students
(depending on tuition)
Must be an Island student Must be attending classes full-time in both semesters No application
$1,000 for the Island Skills Award Must be full time in both semesters Must be an Island student No application
COSTS:
Tuition and Fees $ ________ Books and Supplies $ ________ Living Allowance (from worksheet) $ ________ Return Travel (PEI $250) $ ________ Other Costs $ ________
TOTAL COSTS $ ________
(Use these figures to complete section 1200 page A-5)
RESOURCES:
Student Contribution (from worksheet page G-10) $ _______ Parent Contribution (from worksheet page G-11) $ _______ Part-Time Income while studying $ _______ Other Income (CPP, Pension, EI) $ _______ Savings $ _______ Investments or Educational Trust Fund $ _______ Awards, Scholarships, Bursaries $ _______
TOTAL RESOURCES $ ________ www.studentloan.pe.ca
Total Educational Costs $ Minus Total Financial Resources $
Total Amount of Student Loan Requested $_________________
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www.studentloan.pe.ca
Online starting June 1st. The earlier the better! July 15th is the magic date to ensure you loan is
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Make sure the information you give us is as
If your student status, address, or employment
It is up to the student to keep informed of
Provide your complete mailing address and
In Person: Atlantic Technology Center 2nd Floor, Suite 212 Above HOT 105.5 and Ocean 100.3 By Mail: Student Financial Services PO Box 2000 Charlottetown, PE C1A 7N8 Email: studentloan@gov.pe.ca Phone (902) 368-4640 Fax (902) 368-6144
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www.studentloan.pe.ca
Master Student Financial Assistance Agreement (MSFAA)
Effective for the ‘13/14 school year all students are required to complete the MSFAA. For most students it will be a one time task. The MSFAA is a federal requirement in order to receive Canada Student Loans and Grants. Upon a positive student aid assessment, the student will be notified by email to login to their student aid account and print off the MSFAA. The form must be signed in pen and presented to a Designated Canada Postal Outlet with two pieces of government ID’s one being Social Insurance Card the other being a government photo ID. Federal loans are electronic and are confirmed by post secondary schools in their E-Cert Portal.
www.studentloan.pe.ca
PEI Student Financial Services oversees two separate and distinct loans; Canada Student Loans (CSL) and Provincial Student Loans (PSL). PSL is only issued to eligible students based upon need and only after the receipt of a Pre-Study Report (PSR) which includes ROE or letter from employer and must be received by the deadline, six weeks prior to end date of studies. PSL is currently a paper based loan and must be completed timely and in good form to be received and processed by Edulinx-PEI (Service provider hired by PEI to manage provincial loans).
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