Financing Your Education

FINANCING YOUR EDUCATION

Your Guide to Awards, Scholarships, Bursaries and Loans

HELPING YOU PLAN YOUR EDUCATIONAL INVESTMENT The value of your education will last a lifetime. Financial barriers should not be obstacles towards achieving your dreams: explore the numerous awards, scholarships and bursaries available to you.

The Financial Aid and Awards Office can help you find the resources, make sense of terminology, and assist with applications.

Whether you are starting your very first semester or continuing your studies, a student award in the form of a scholarship or bursary can help you achieve your goals. Awards are available for full-time or part-time students in certificate, diploma or degree programs.

DEFINITIONS - WHAT DOES IT MEAN? Scholarship

Entrance Awards

Scholarships are awarded to domestic students (Canadian citizen or permanent resident) and some international students based primarily upon their academic achievement. Other conditions such as financial need, community involvement, and extracurricular activities could be used to make award selections.

Entrance awards are for students who are entering their first semester of post-secondary study at Okanagan College.

Bursary

Current and Returning Awards Current and returning awards are for students who have completed at least one semester of postsecondary study at Okanagan College.

Bursaries are awarded to domestic students (Canadian citizen or permanent resident) based primarily on financial need. Other secondary criteria could be considered in making award selections.

Academic Achievement

Grant

Financial need is determined by assessing a student’s income and expenses for the academic term. Students receiving student loans may still be considered to be in financial need.

A grant is money given by a government program or foundation, which normally requires demonstrated financial need (similar to a bursary).

Award An award is money given in recognition of accomplishment or affiliation in a particular field.

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A pre-determined Grade Point Average (GPA).

Financial Need

Community Involvement Participation in community events, volunteer commitments with non-profits and/or charities, and involvement in extracurricular activities such as sports.

HIGH SCHOOL ENTRANCE AWARDS These awards are for students graduating in the current year from a secondary school within the Okanagan College region (Revelstoke to Princeton) and entering Okanagan College in September.

High school awards require an interim transcript to be sent directly to our office before the awards deadline. At least one reference letter from your school is also required. Additional references from the community/extracurricular/leadership involvement may also be beneficial.

Each year Okanagan College and the Okanagan College Foundation distribute over $1 million in awards to more than 850 students.

Over 60 awards, totaling approximately $100,000, are specifically for high school students.

Visit okanagan.bc.ca/hsawards for more information.

Each campus also has High School Awards available.

okanagan.bc.ca/financialaid

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TIPS ON APPLYING Review the Criteria

Documents

Each award has specific criteria that successful applicants must meet. Before selecting which awards you are applying for, read the criteria carefully.

Some awards require additional documentation which is clearly stated in the award criteria. To be considered for these awards, you must provide the required documentation prior to the application deadline. Documents could include reference letters, statements, or essays. Make sure you submit the documents to awards@okanagan.bc.ca in word or PDF format.

Personal Information Provide as much detail as you can when answering questions regarding your career and educational goals, community and school involvements. Answer fully, do not leave items blank; be specific and elaborate as these answers are used in the selection process.

Financial Information For the budget section, complete the budget for the period you will be a full-time student during the current term. For most programs, the period of study will be four months (September to December or January to April) but may vary depending on your program of study. Make sure you include only the costs and expenses for the study period, not the entire program with the exception of trades and health programs. If you are unsure of the amount, you can estimate.

Over 500 awards are available for Okanagan College students

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References Choose your references with care. Employers, religious leaders, community leaders, teachers and instructors can serve as excellent references. Make sure you advise your references about the award that you are applying for and inform them of the specific criteria so they are prepared to explain why you are a suitable candidate. Avoid using family members, best friends or roommates.

Apply Early Plan ahead and apply early. Make sure to check the application deadlines for each semester because deadlines are firm.

AWARD APPLICATION PERIOD Fall

• Indigenous: March 1 to September 15 • Current and Returning: March 1 to July 31 • Entrance: March 1 to September 15

Winter

• Indigenous: December 1 to February 15 • Current and Returning: December 1 to February 15 • Entrance: December 1 to February 15

Summer

• Indigenous: March 1 to May 31 • Entrance: March 1 to May 31

Trades Completion Awards: February 1 to March 31

* For Trades students who completed or will complete their studies at Okanagan College between July of the previous year to June of the current year

Winter Completion Awards: March 1 to May 31

* For students who completed or will complete their studies at Okanagan College between July of the previous year to June of the current year

Recipient of the Hamilton Recognition Award Fund Jennifer Brooks (centre) with Liz Hamilton and Jim Hamilton (presenters).

okanagan.bc.ca/financialaid

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EXTERNAL AWARDS Irving K. Barber Scholarship Society

The Irving K. Barber British Columbia Scholarship Society supports post-secondary education by providing scholarships for students attending public post-secondary institutions to achieve their educational goals.

Yconic

Yconic offers more than $180 million in scholarships, prizes and contests across Canada.

For more information on other external awards, please visit okanagan.bc.ca/financialaid and select “External Awards.”

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OTHER FUNDING Adult Upgrading Grant (AUG)

Need to enrol in upgrading courses? AUG is available to assist eligible students with direct educational costs (tuition, supplies, technology and if applicable transportation and unsubsidized child care) for students enrolled in programs such as: • Adult Basic Education (ABE) • English as a Second Language (ESL) • Adult Special Education (ASE)

Former Youth In Care

Applications are available at Student Services or online through the StudentAid BC website (studentaidbc.ca). Once fully completed, submit your application to upgradinggrants@okanagan. bc.ca where eligibility will be determined. If you are not able to submit electronically, you can drop off completed application form at any Financial Aid Office at your campus.

Provincial Tuition Waiver Program

Youth Educational Assistance Fund

• Been in foster care for at least two years. This includes youth who were on a Voluntary Care Agreement, a Special Needs Agreement, a Temporary Custody Order or a Continuing Custody Order

Supports post-secondary education and training for former youth in care through bursaries of $5,500 per educational year, up to a maximum of four years, to help with tuition, books and fees.

• Or, live with a family member (other than parent) or other adult for at least two years, as part of an agreement or custody order with the Ministry of Children and Family Development or a Delegated Indigenous Agency. This includes youth who lived with family or another adult on an Extended Family Plan, a Temporary Custody Order, or a Permanent Transfer of Custody • Or, been on Youth Agreement for at least two years. In addition to meeting one of the above requirements, you must also be aged between 19 and 26 years old and attending a public postsecondary institution in British Columbia

Agreements with Young Adults (AYA) Upon the Agreements with Young Adults program, youth who leave government care at 19 years of age are eligible for support to cover living expenses while they finish high school, attend post-secondary training or complete a rehabilitation program.

Agedout.com Visit agedout.com for more information on other funding opportunities for former youth in care.

okanagan.bc.ca/financialaid

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STUDENT LOANS AND GRANTS Canada Student Loans and Grants

StudentAid BC helps eligible students with the cost of their post-secondary education through loans, grants, bursaries, scholarships and special programs. It also has programs for borrowers who need help repaying their loans.

Visit studentaidbc.ca for more information.

Most provincial online applications are available in June. Student loan funding are not disbursed till the first week of class. However, fee payment deadline is three weeks before the first day of class. If you need fee deferral till the first week of class, you need to apply at least six weeks before your program start date. Separate applications are required for the Fall and Winter semester. You can apply up to the deadline which is six weeks before the last day of class. If you have any questions regarding student loan applications, visit the Financial Aid and Awards Office at each campus or email financialaid@okanagan.bc.ca.

Part-time Funding

Part-time funding is available to students enrolled in 20 to 59 per cent of a full-time course load.

Canada Apprentice Loan (CAL)

Apprentices registered in a Red Seal trade apprenticeship program who meet the eligibility requirements for Canada Apprentice Loan (CAL) may receive up to $4,000 in interest-free loans per period of technical training.

Visit canada.ca/apprentice for more information.

What will it cost? okanagan.bc.ca/tuition

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WANT TO SAVE THOUSANDS PER YEAR? • make coffee at home • bring your lunch • take transit or carpool • pay off debt (accumulated interest)

Student Loans - Quick Tips

• Apply early, check StudentAid BC website for details.

• Complete one online application for each semester of study unless you are in a vocational program.

• Students do not have to be admitted to their program or school before applying for government student loans and grants.

• Application information is subject to audit by the Ministry.

• Register in at least 60 per cent of a full course load, which is nine credits (students with a permanent disability may study at 40 per cent of a full course load).

• Audited and previously passed courses are not counted toward 60 per cent course load.

• Remember: You are responsible for paying your fees to Okanagan College.

Interest-Free Status

If you decide that you do not need a loan, but have previous student loans, you can apply for interestfree status while you are studying full-time. You should apply before the study period end date as interest-free status will not be backdated. Visit studentaidbc.ca for more information.

BC FULL-TIME STUDENT LOAN APPLICATION PROCESS Full-time application forms are online through the StudentAid BC dashboard Create a login with StudentAid BC (studentaidbc.ca)

Submit your application

Receive Notice of Assessment (NOA)

Complete Master Student Financial Assistance Agreement (MSFAA)

Confirmation of enrolment

Fee payment deadline

Funding disbursements

• Requires BC Services Card to verify your identity • Need to download the BC Services Card mobile app *If you do not have a mobile device, you can visit a Service BC Centre and bring your BC Services Card to obtain a BC Token and receipt, then you will be able to setup a username and password on your computer.

• Through StudentAid BC dashboard • NOA outlines the funding amounts approved and disbursement dates • Longer programs will have more than one disbursement dates • The National Student Loans Service Centre (NSLSC) will send a welcome email with link to register; set up an account with them and to complete MSFAA • MSFAA number can be found on the NOA • Only new students and students who had gap of studies of greater than two years will have to sign a new MSFAA • If application is approved by StudentAid BC, around 28 days before the start of class, our office will receive the confirmation of enrolment request • Once we have confirmed enrolment, a student loan hold will be placed on the student account. An email notification will be sent OR view your holds through myOkanagan under “Student Records” • Fees are due three weeks before classes start • If you rely on student loan funding to pay fees, you need to have an approved student loan before the fee payment deadline to defer payment • Most fundings are disbursed via direct deposit to the bank account provided on NSLSC portal within the first week of class • All student loan fundings are disbursed to students directly. Students are then responsible to pay off any outstanding balance owing

You can apply for a student loan up until six weeks before the last day of class.

Note: For academic programs, you need to apply on a term by term basis.

okanagan.bc.ca/financialaid

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MAKE MONEY AT OKANAGAN COLLEGE Okanagan College Student Employment Program Who Is Eligible to Participate?

Okanagan College students who are Canadian or who have Canadian Permanent Resident Status enrolled in degree, diploma or certificate programs that are taking a minimum of two courses per semester and are in good academic standing.

International Okanagan College students enrolled in degree, diploma or certificate programs that are taking a minimum of three courses per semester and are in good academic standing.

What Kind of Jobs are Available?

There are approximately 300 students employed annually in a variety of jobs including Research Assistants, Learning Centre Assistants, Peer Mentors, Recreation Facility Assistants and Computer Lab Monitors.

How Much Can I Work?

Students can work a maximum of 15 hours per week during the September to December and January to April terms. For summer term May to August, students can work a maximum of 35 hours per week.

For more information on student employment and co-op work opportunities, visit okanagan.bc.ca/coop

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IT’S EASY APPLY TODAY

For Awards, Scholarships and Bursaries

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LOG IN TO MYOKANAGAN Visit okanagan.bc.ca and click on myOkanagan to log in.

FINANCIAL AID AND AWARDS Under the student tab, look for Financial Aid and Awards and select Apply for Awards.

VIEW AWARDS Select View Awards to see all available awards under each category.

START APPLICATIONS Select Start Application Now to begin your application.

Make sure you provide as much detail as possible. *Remember to apply for “all campuses” awards as well as awards that are specific to the campus you are attending.

ADDITIONAL DOCUMENTATION If additional documents are required, submit them by email to awards@okanagan.bc.ca in either word or PDF format.

CHECK YOUR APPLICATION STATUS Under Financial Aid and Awards, select View Awards Applied for to view your application status. *Due to the volume of applications received, only successful applicants are notified.

If you have any questions, please email awards@okanagan.bc.ca

okanagan.bc.ca/financialaid

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MEET WITH US Financial Aid and Awards staff are available in Kelowna, Penticton, Vernon and Salmon Arm Email Phone Toll Free

financialaid@okanagan.bc.ca 250-862-5419 1-800-767-5492

VIRTUAL DROP-INS

okanagan.bc.ca/financialaid

04.22 LN8839

Ask quick questions without an appointment See times, dates and link on our website