Student Financial Services Everything youve always wanted to

Student Financial Services Everything you’ve always wanted to know…. PAGE 1

SFS webspace https: //uwaterloo. ca/finance/student-financial-services Contact our office about: Ø UHIP Ø A student account Ø Post-deadline (count date) Fees Arrangements Ø Financial holds Ø Promissory Notes Ø Payments Ø Refunds PAGE 2

A student’s account Student Centre>Finances>Account Inquiry>click on the term § Regardless of who’s paying, the student is responsible to: § Check account weekly to be sure no surprises § Check uwaterloo email for notices from SFS § Direct student account inquiries to SFS or The Centre, not other departments § The bill and payment instructions get to the person who is making the payment § Submit the Promissory Note (if applicable)

The bill

Tax receipts § available in the Finances section of Quest by end of February each year PAGE 5

“Fees Arranged” means…. . Pay entire Term Balance OR Use the Promissory Note

Payment options Bank payments Online banking, ATM, teller (use student ID # as account #) Certified cheque, money order or bank draft from a Canadian bank Western Union Global. Pay transfer PAGE 7 NO credit cards, cash, debit, Interac email transfers, international wire transfers NO instalment payment plans

The Promissory Note…. …allows student to leave a balance owing on the student account equal to the scholarships, awards, bursaries, government student loans coming during the term, instead of paying the Term Balance in full by the due date

Account details

Use the Promissory Note for these types of funding: Waterloo scholarships Third-party sponsorships (approved) External scholarships payable to Waterloo tuition benefits GRS, RAs, or TAs (grads only) Canadian government student loans (like OSAP) Seniors’ bursaries PAGE 10

but NOT for these types of funding: RESP funding Third-party sponsorships (not approved) External scholarships payable to you Employment income Employer reimbursement Foreign government student loans International scholarships PAGE 11

Find the P-Note on Quest

Submit the P-Note on a mobile device

Check your Status on Quest

What if you aren’t Fees Arranged? PAGE 15

will not receive scholarships/bursaries access to course material on LEARN will be delayed PAGE 16 will not receive government student loan funding (OSAP)

Late fees § Due dates are communicated through several emails, Daily Bulletin, Twitter, Facebook and posted on our website a year in advance to allow students and their families to plan to meet them. § if there are no charges on student account until on or after the due date, student will have ten business days from the date the fees first appear on the student account to submit payment in full or Promissory Note without a late fee charge. After that, late fees apply § Assessed in a manner consistent with our published late fee schedule and policy as it applies to all students (including staff!) § Cannot waive a legitimately charged Late Fee § No additional fees or interest will be charged on this balance. PAGE 17

How to avoid a Late Fee § Bookmark the due dates schedule: https: //uwaterloo. ca/finance/student-financial-services/about-yourstudent-account/due-dates-and-late-fees § Read and follow our blast emails § Forward e-bill and blast emails to the person who’s paying § NEVER, EVER tell a student they will not get a late fee PAGE 18

“Fedof. Stdnts-Administered Fees” • FEDS Health & Dental Plan • www. studentcare. ca • Room 1006 Health Services Bldg PAGE 19

• University Health Insurance Plan • http: //uhip. ca/ • sfs@uwaterloo. ca

SFS holds Fees Owing hold § 60 days after due date or date the fee was posted (whichever is later) § Restricts access to view grades, enroll in courses, access transcripts § Payment must be received in our office for the hold to be removed No Refund hold § Usually related to having an international mailing address or international payments made in advance of a term to leverage a visa application § Only impact is “no refund” Information hold § Notes kept on a private drive in SFS § No service impact PAGE 21

Other holds (click the to see what it is) Parking, Library, Health Services, St. Paul’s, Science, Environment holds § Applied by the department, not SFS § Restricts access to view grades, enroll in courses, access transcripts § Do NOT pay via student account; contact the department or The Centre to pay and have the hold removed Overdue Emergency Loan hold § Contact The Centre to make payment and have the hold removed § Restricts access to transcripts and enrolment PAGE 22

Refunds Financial Aid refunds § After 100% refund deadline § Must be Fees Arranged Term Batch refunds § After 50% refund deadline § Only if there is a credit balance (dropping a course does not always create a refund!) Cheque to mailing address on Quest, provided it’s in Canada/USA Missing refund cheque? sfs@uwaterloo. ca PAGE 23

EC 5 § Call before you send! X 38466 § sfs@uwaterloo. ca § New strategies (scan, campus mail, etc) § Read through our websiteuuwaterloo. ca/finance/student- https: //uwaterloo. ca/finance/student-financial-serviceslservices PAGE 24

QUESTIONS? PAGE 25

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Student Awards & Financial Aid

What is OSAP § The Ontario Student Assistance Program (OSAP) provides financial assistance to full-time and part-time students to help them attend college or university. § OSAP is based on financial need § Canada Student Loan Program (Federal) § Ontario Student Loan Program (Provincial) § Federal and Provincial grants Grants

How is OSAP aid determined? Allowable Educational Costs minus üTuition üCompulsory fees üBooks & supplies üEquipment üComputer costs üLiving expenses üChild care üTravel Expected Financial Contribution equals üStudent contribution üParental income üSpousal income (if applicable) üStudent & spousal assets Calculated Financial Need

OSAP Estimate Visit ontario. ca/osap to find out how much you could get in OSAP loans and grants.

Will OSAP cover my costs? Projected costs for 8 months: $ 20, 000 - $33, 000 Maximum OSAP for 8 months: $15, 800* *single student for 2 school terms

“Free Tuition” Family income is less than $50, 000 Provincial – Ontario Student Grant 100% grant (OSG). No loan Federal – Canada Student Grant The combination of these two grants should equal the average Arts/Sci tuition fee Unchanged. Mix of loans & grants Family income over $50, 000 mix of loans & grants (provincial and federal)

Other Funding Sources § UW Bursary Assistance § Full-Time § Part-Time § International § Work Study § Canadian/PR § International § Scholarship Database

Applying For OSAP - Apply online ontario. ca/osap § Students can apply for full-time terms, part-time terms and/or work terms - 23% Increase in OSAP applications this year - Students can choose to receive grant only - Send students to our office at any time of the term– refer them to our website as well

New for 17/18 § Ontario Student Grant § Don’t need to declare RESP income on application § Don’t need to declare pre-study and study period income (flat rate contribution) on application § Indigenous Efforts – don’t need to claim band funding and no expected student contribution § Net Billing Pilot (F’ 17) and Net Estimates (F’ 18) § New Overpayment Policy – positive impact for students § Repayment Income Threshold levels

Where we may connect § Non-Degree/Post Degree Students § OSAP Satisfactory Academic Progress § Probation § Restriction § OSAP Appeals § Dropping Courses § Remaining full-time § Dropping to part-time § Refunds

Other Information § OSAP life-time limits § Term funding limits § Keeping previous loans in interest free status § Students must be “fees arranged” before OSAP funding can be released

Questions?