Financing Post-Secondary Education

Financing Post-Secondary Education

Task 1:

You will hear the words below in a talk here about financing post-secondary education. Match the words with their meanings; write down the letter next to the word.

1. _ d _rely on                                                    a. given

2. __e_ eligible                                                    b. not enough

3. __a_ granted                                                   c. accumulated

4. __b_ insufficient                                            d. depend on

5. __f_ contribution                                           e. qualifying

6. __c_ accrued                                                  f. gift

Task 2:

Listen to the talk and answer the questions below.

1. What expenses can the cost of post-secondary education in Canada include?

They include tuition, accommodation fee: residence fees, the cost of  books and materials, transportation, food, various necessity.

2. How are government loans administered?

CCL program and provincial student loan: OSAP

3. Who can receive government student loans?

When other financial resources available to students are deemed insufficient to meet a student’s education expenses.

4. Why are government student loans better than personal bank loans?

The interest without the the accrued addition is lower than personal bank's

5. What other forms of financial assistance are available to students?

Many medium to large corporations and private organizations also offer scholarships, bursaries and awards for students.

6. What is an appropriate title for this talk?

Financing Post-Secondary Education

Task 3:

Listen again and complete the text with the missing words.

Par. 1 Studying at a university or college can 1.__involve___ various costs. Depending on the program or school, 2. ____tuition____ can vary from $2,500 to $8,000 or more per year. !e cost of post-secondary education can also include the cost of 3. __accommodation___, such as residence fees, as well as the cost of books and other materials, transportation, food and various necessities. Many students in Canada rely on help from the government and financial institutions to finance their education.

Par. 2 Government programs are the form of financial assistance most often 4. ____utilize____to finance university education. Government student loans provide money to 5.___eligible_____ students based on demonstrated financial need. Funds are paid out through a combination of the CSL (Canada Student Loan) program and the provincial student loan program (e.g., OSAP—Ontario Student Assistance Program). Students  6.____apply____ in their province of residence.

Par. 3 Government student loans and other funds are granted only when other financial 7. ____resources_____ available to students are deemed insufficient to meet a student’s education expenses. These resources include family contributions, part-time work, 8. ___scholarships___, bursaries, etc. If a student is under 19, a parent or a legal guardian or sponsor needs to 9. _____co-sign______ the loan document.

Par. 4 Government student loans offer a great advantage over personal bank loans as full-time students can qualify to have their 10. ___recruit_accrued___ interest paid for by the federal and/or provincial government while they are still studying.

Par.5 Private student loans or lines of credit are offered by many banks and credit unions. The main difference between them and the government programs lies in how the interest 11. ___is repaid_____. In private loans or lines of credit, the student is responsible for all the accrued interest as soon as the loan has been 12. ___signed______. In addition, many medium to large corporations and private organizations also offer scholarships, bursaries and awards for students.
Task 4:

Who wouldn’t like to have some free money?  Click on this link and search the eligibility criteria for grants, bursaries, and scholarships, plus the estimated amount as well.  Share this information with your classmates. 

Grants:

•Be a Canadian citizen or a permanent resident of Canada, or be designated a “protected person” under the Immigration and Refugee Protection Act ¹;

 • Be a permanent resident of a province or territory that issues Canada Student Loans;

 • Demonstrate financial need; 

• Be enrolled in a degree, diploma or certificate program that runs for at least 12 weeks in a 15-week period and is offered by a designated post-secondary institution;

 • Be taking at least 60 percent of a full course load if you are a full-time student, or between 20 and 59 percent of a full course load if you are a part-time student; and 

• Pass a credit check if you are 22 or older and are applying for student loans and grants for the first time.

Bursaries:

Scholarships:

Scholarships are grants that are given based on merit, not need. They are another great way to pay for schooling.

To be eligible to apply, you must:

• be a Canadian citizen or a permanent resident of Canada;
• 
  
• be enrolled in, have applied for, or will apply for full-time admission* to an eligible graduate program at the master’s or doctoral level at a Canadian institution with a CGS M allocation. Note: Applicants who are not currently enrolled in their intended graduate program must submit an application for admission by the deadline for their intended graduate program or by March 15, whichever comes first;
• 
  
• have completed, as of December 31 of the year of application, between zero and 12 months of full-time studies (or full-time equivalent) in:
• the master’s program for which you are requesting funding; or
• the direct-entry doctoral program for which you are requesting funding; or
• the combined master’s-doctoral program for which you are requesting funding; or
• a master’s program that was or will be fast-tracked to a doctoral program, and you are requesting funding for the first 12 months of this doctoral program; and not have previously held a CGS M;
• have achieved a first-class average, as determined by the host institution, in each of the last two completed years of study (full-time equivalent); and submit a maximum of one scholarship application per academic year to either CIHR, NSERC or SSHRC (the Research Portal will allow the application to be submitted to up to five institutions – refer to Application Procedures)