Financial Aid Money Matters

Financial Aid Office Mandate

“Our mandate is to increase opportunities for and access to university by helping students and their families seek, obtain, and make the best use of all financial resources. As such, the Financial Aid Office of UNB (Fredericton) plays an integral role in supporting the University's mission and goals of recruiting and retaining a talented and diverse undergraduate and graduate student population.”

Part 1

Costs of Attendance

Approximate Costs 2013-2014

• Tuition $ 6,007• Fees (Health & Dental next slide) $ 849• Residence costs

(double room/meal plan) $ 8,576• Books/equipment and supplies $ 1,500• Local travel $ 800• Return travel $ 1,500• Miscellaneous (entertainment, etc.) $ 1,500• Parking Fee $ 101

TOTAL $20,833

Health & Dental Plan at UNBADMINISTERED BY

If you have alternate medical coverage and do not wish to remain on the UNB student plan, you can opt-out by visiting the following website:

http://www.wespeakstudent.com/

You can choose to opt-out of the dental plan without showing proof of coverage,however this must also be indicated online. A verbal indication that the student wishes to opt-out is not sufficient and will not result in a credit to your University account. (COSTS: Health $142 + Dental $118 = $260)

OPT-OUT DEADLINE: September 20, 2013

Tuition and Fees

FALL 2013 Tuition/Fee Payment Due by Payment Due by September 13September 13thth ~

All Programs $3,573.00

Exceptions to Minimum PaymentExceptions to Minimum Payment::

Law, Engineering, Education, Business

Part IIStudent Funding

(Government Loans & Other)

GOVERNMENT STUDENT LOAN FUNDINGHOW TO APPLY

STEP 1 (go to)www.canlearn.ca

STEP 2 (click on province of residence)http://www.canlearn.ca/eng/main/help/contact/cao.shtml

STEP 3 (APPLY!—one application covers both federal/provincial resources—have income tax returns)

DIFFERENCE BTWGOV’T STUDENT LOAN & PRIVATE

  Government student loans  Non-government student loans 

Requirement of a guarantor

As a general rule, no Possibly

Interest due while in school

Full-time students do not pay interest until they have left post secondary education

Yes, students pay interest while in school

Start date of  repayment

6 months after leaving post secondary education (interest will accrue as soon as you are out of school, however)

Immediately after receiving the loan

Repayment helpForms of help, such as getting a temporary pass on paying principal and interest, are available

Varies by loan provider; typically more difficult to access

Differences Between Loans 

New Brunswick Integrated Loan Program

Single Student Example

Program Weekly Maximums

# of weeks in Program Total

Canada Student Loan $210 34 $ 7,140

*Canada Student Grant $250 monthly 8 months $ 2,000

$100 monthly 8 months $ 800

New Brunswick Loan $140 34 $ 4,760

New Brunswick Bursary $130 34 $ 4,420

POTENTIAL Student Loan Maximum over traditional academic year

September, 2013 – April, 2014

$17,120 –

18,320

Nova Scotia Student Aid Single Student Example

Program Weekly Maximums # of weeks in program Total

Canada Student Loan $210 34 $7,140

*Canada Student

Grant

$250 monthly 8 months $ 2,000

$100 monthly 8 months $ 800

Nova Scotia Student Loan (up to 20% eligible in grant)

Loan/ $108.00 34 $3,672

Grant/$72 34 $2,448

POTENTIAL Student Loan Maximum over traditional academic year

September, 2013 – April, 2014

$14,060 -

15,260

Ontario Integrated Loan Single Student Example

Program Weekly Maximums # of weeks in Program

Total

Canada Student Loan/

OSLP

$360 34 $ 12,240

Grants available which may reduce repayable assistance to $7,300.00 per academic year

(automatic based on financial need)

Prince Edward IslandSingle Student Example

Program Weekly Maximums # of weeks in Program

Total

Canada Student Loan $210 34 $7,140

*Canada Student

Grant

$250 monthly 8 months $ 2,000

$100 monthly 8 months $ 800

Prince Edward Island Student Loan

$165 34 $5,610

POTENTIAL Student Loan Maximum over traditional academic year September, 2013 – April, 2014

$13,550-14,750

Newfoundland & Labrador Single Student Example

Program Weekly Maximums # of weeks in program Total

Canada Student Loan $210 34 $ 7,140

*Canada Student

Grant

$250 monthly 8 months $ 2,000

$100 monthly 8 months $ 800

Newfoundland Student Loan

$60 34 $ 2,040

Newfoundland

Up-Front Grant

$80 34 $ 2,720

POTENTIAL Student Loan Maximum over traditional academic year September, 2013 – April, 2014

$12,700-

13,900

Canada Student Grants for Students with Permanent Disabilities

• $2,000 per year for students who have been assessed as having a permanent disability by their province.

• Up to $8,000 per school year to cover exceptional education-related costs such as tutors, note-takers, sign interpreters, braillers or technical aids. A separate application is required for this grant.

REVIEW PROGRAM:http://www.canlearn.ca/eng/postsec/audience/perdis.shtml

REPAYMENT ASSISTANCE

Government of New Brunswick Timely Completion Benefit

Eligibility Requirements• Graduate from a publically funded post-secondary institution. • Graduate from the program of study within the established

timelines for the program.• Total federal and provincial student loan borrowings in excess of

$26,000. • Apply for one-time benefit within seven months of graduation.

REVIEW PROGRAM: https://www.studentaid.gnb.ca/pdf/atcb-e.pdf

Government of New Brunswick Tuition Rebate

Under the New Brunswick Tuition Rebate, anyone, from anywherein the world, who on or after January 1, 2005, pays tuition, graduates from an eligible post-secondary institution, lives and works in New Brunswick and pays New Brunswick personal income tax, will be eligible for a non-taxable rebate of 50% of their tuition costs with a maximum lifetime rebate of $20,000.

REVIEW PROGRAM: http://www.gnb.ca/0162/tax/nbtr/application_form-e.pdf

Government of Nova Scotia Graduate Tax Credit

The Nova Scotia Graduate Tax Credit is available to anyone living and working in Nova Scotia who graduated from an eligible post-secondary program on or after January 1, 2006. This credit could reduce your Nova Scotia income taxes by $1,000 in 2006 and 2007 and by $2,000 in 2008 and later years.

REVIEW PROGRAM:http://www.gov.ns.ca/snsmr/access/individuals/graduate-tax.asp

FEDERAL Government Repayment Assistance Plan

The Repayment Assistance Plan (RAP) is available to borrowers who are having difficulty paying back their student loan debt. RAP makes it easier for student loan borrowers to manage their debt by paying back what they can reasonably afford.

REVIEW PROGRAM:http://www.canlearn.ca/eng/after/repaymentassistance/rpp.shtml

National Student Loan Service Centre

National Student Loan Service Centre (NSLSC)

Public Service Division

TEL: 1-888-815-4514

WEB SITE: https://nslsc.canlearn.ca/eng/default.aspx

Part III Finding Money and

Resources!

UNBF Great Computer Give-Away Program

• UNB’s Financial Aid Office, Student Union and IT Department participate in a “computer draw program” annually. In the fall of 2013, reconditioned computers will be provided to this needs-based program by UNB’s IT Department.

• Eligibility is restricted to full-time UNBF undergraduate students with demonstrated financial need. Students must also be in good academic standing (GPA of 2.0 and over from the most recent assessment year or 1st year entry to UNB) to be eligible for program consideration.

UNB Work-Study Program• Work-Study is a subsidized employment program designed

to assist financially needy students with the high costs associated with post-secondary study.

• Students work up to a maximum of 10 hours per week at a standard wage of $12.00 per hour.

• Please contact UNB’s Financial Aid Office (453-4796) starting end of August, 2013 to set up an appointment for a “Needs Assessment” and review program eligibility.

UNB Special Bursary ProgramStudents may be eligible for up to $1,000 in bursary assistance if they meet the following criteria:

1. Undergraduate Canadian citizen (or domestic student)2. Registered at UNBF on a full-time basis3. Have a demonstrated financial need

Please contact Financial Aid at 453-4796 for further information.Application deadline: November 15, 2013

Applications will be posted tohttp://www.unb.ca/fredericton/studentservices/financial-aid/

Dr. Florence T. Snodgrass Bursary for New Brunswick Students

Students may be eligible for up to $2,000 in bursary assistance underthe following criteria:

1. Undergraduate New Brunswick resident (as per NB Student Financial Assistance guidelines)

2. Registered on a full-time basis3. Have a demonstrated financial need

Please contact Financial Aid at 453-4796 for further information.Application deadline: December 5, 2013

Applications will be posted tohttp://www.unb.ca/fredericton/studentservices/financial-aid/

Book Advance Program

Personal Advances/Book Advance Program Advances (re-payable) are available to full-time students awaiting forthcoming funds. In order to be eligible for this program, students must present proof (i.e. copy government loan assessment) to the Financial Aid Office verifying dollar amounts.

Please call Financial Aid Office to schedule an appointment.

Study Abroad Bursary Program

Bursaries, valued up to $ 1,500, may be available to full-time students completing an international student abroad program as part of their degree requirement at the University of New Brunswick (Fredericton Campus). The award will be contingent on the students’ registration and completion of the student abroad program.

AWARDS Encourage your child to review financial options and resources by applying for scholarships/bursaries through UNB’s Undergraduate Awards Office andUNB’s Financial Aid Office.

Scholarships (merit-based) • Merit-based Scholarships look at academic standing or grade point average (g.p.a.).

Merit-based bursaries also consider financial need. • WEB SITE: http://www.unb.ca/scholarships/

Bursaries (need-based)• Need-based awards consider financial need first and, in some programs, an

academic standing of 2.0 and over. • WEB SITE: http://www.unb.ca/fredericton/studentservices/financial-aid/

EXTERNAL AWARDS Check out on-line search tools for awards across Canada at the following web sites

(this is not an all inclusive list):

• http://www.studentawards.com/canlearn/

• http://www.scholarshipscanada.com/

• http://www.disabilityawards.ca/

Don’t forget to check out the valuable Job Search and Career Information located

on UNBF’s Student Employment Services web site:

• http://www.unb.ca/fredericton/studentservices/employment/

Financial Consent

Parents, guardians, spouses & other 3rd parties requireconsent from the student for whom they wish to access account information to make tuition and fee payments.

How to access the eServices screen:

1) Log on to your student eServices;

2) Select ‘Financial’ tab located at the top of the screen;

3) Select ‘Financial Consent’ on the left hand side of the screen.

Average Earnings Average earnings by highest level of schooling, by province and territory (2006 Census)

 2005 Canada N.L. P.E.I. N.S. N.B.

Total - Highest certificate, diploma or degree

35,498 27,636 27,769 30,187 28,450

Certificate or diploma below bachelor level

30,116 24,180 24,663 26,215 24,861

University certificate or degree 58,767 53,222 46,139 49,433 51,495

Bachelor's degree 52,907 45,915 40,830 43,436 46,232

University certificate, diploma or degree above bachelor level

69,230 67,036 57,176 60,095 62,967

Source: Statistics Canada, Census of Population. Last modified: 2009-10-09.

FINANCIAL AID OFFICE CONTACTS:

Shelley Clayton or Kelly Waugh Director Financial Aid Officer

Location: C.C. Jones Student Services Centre, 1st floor , 26 Bailey Drive

Tel (506) 453-4796/Fax (506) 453-5020E-mail: finaid@unb.ca

http://www.unb.ca/fredericton/studentservices/financial-aid/