welcome session fees & finances june 2015. fees & finances overview costs of university...

Welcome SessionFees & Finances

June 2015

Fees & FinancesOverview

• Costs of university• Resources to help pay• What students/families should be doing now• Fees deadline and other Important dates

Fees & FinancesStudent living away from home

Costs of university:

• Tuition $ 7,520 (FT student – year 1)

• Books $ 1,000• Residence/Apt. $12,000 ($1500/month)

• Misc. (cell, laundry etc.) $ 2,000 ($250/month)

$ 22,520

Fees & FinancesStudent living at home

Costs of university:

• Tuition $ 7,520 (FT student – year 1)

• Books $ 1,000• Transportation (TTC) $ 880• Food on campus$ 1,200 ($150/month)

• Misc. (cell, laundry etc.) $ 1,600 ($200/month)

$ 12,200

Fees & Finances

Costs of university:

Average = $19,000 - $23,000 for a student living away from home

Average = $ 10,000 - $13,000 for a student living at home

How can students pay for everything?

Fees & Finances

Resources: 1. Family

RESPs

2. OSAP/other provincial loans30% Ontario tuition grant

Fees & FinancesOSAP provides:Approx. $10,000 (maximum – living at home)

OSAP expects:$1,500 from summer work (after high school)$2,000 from PT work during the school year*

(U. of T. Work Study)

Total = approx. $11,500+

You could be fine……..

Fees & FinancesOSAP provides:$15,000 (maximum – living away from home)

OSAP expects:$1,500 from summer work$2,000 from PT work during the school year*

(U. of T. Work Study)

Total = approx. $17,500

You still need $3,000+……..(to get to $20,000)

Fees & Finances

Resources: 1. Family

RESPs

2. OSAP/other provincial loans3. UTAPS (University of Toronto Advanced Planning for Students = grant)

4. College grants5. Scholarships

Fees & Finances

What should students/families be doing now?

Talking about financesSummer workCompleting a budget for the year (pg. 14 in Guide)Filling out the OSAP application- osap.gov.on.caCompleting the MSFAA for OSAP direct deposit

Print from the OSAP websiteSubmit at a Canada Post outlet

Fees & Finances

Once you choose your courses online (July 30th), you can view your fees invoice.

Fees deadline!

For payment or deferral

August 25th

Fees & Finances

Payments are made at any Canadian bank 1st installment is 50% of full fees (first term fees)

o approx. $3760 Service charges begins Oct. 15th

Deferrals are done online on ROSI (OSAP) or at the Registrar’s Office (Scholarships)Note: RESPs do not allow you to defer your fees

Important Dates

• Jul. 30th - Course selection• Aug. 25th - Registration deadline• Sep. 14th - Classes start • Sep. 27th - Last day to determine FT/PT

status/fees

Program Fee vs. Per Course Fee

• FT = 3.0+ credits for the year• PT = 0.5 – 2.5 credits for the year

How course load is calculated (See Timetable for more info):F + Y courses (as of Sep. 27) +

S courses (as of Jan. 24) = course load count

• 3.5-6.0 Program fee• 0.5-3.0 Per course fees

Important Dates

• Jul. 30th - Course selection• Aug. 25th - Registration deadline• Sep. 14th - Classes start • Sep. 27th - Last day to determine FT/PT

status/fees

Questions ?

Students should contact the University College Registrar’s Office:

15 King’s College Circle, Rm 157Phone: 416-978-3170

uc.registrar@utoronto.caHours: 9:30am-12:15pm, 1:30pm-4:15pm