Paying For Your Education
Paying for Your Education - Introduction
Data from the Canadian Post-Secondary Student Financial Survey 2003-04 suggests that there several factors which affect a student’s ability, at the beginning of the year, to forecast whether or not he/she will have enough resources to cover all the expenses for the entire year. Reasons for this may include:
- Irregular flow of both income and expenses
- Lack of information on the cost of education
- Lack of information on living costs
- Lack of information on resources to help pay for the expenses
- Lack of knowledge or experience with budgeting
For these reasons, it is important for you to budget carefully if you want to make it last to the end of the year. While the majority of students follow some kind of budget, approximately 13% of students have no budget, and only 32% somewhat follow a budget. In addition, most students reported that they wished they had had more information on the costs of education, living expenses, the sources of loans and how to budget.
This section of the website is devoted to giving you:- A fundamental understanding of budgeting,
- Information on the costs of education, and
- Ideas on where to find the money to help you pay for it.
Cost of Attendance
The information below indicates the differences in expenditures for dependent students that live at home, dependant students living away from home (either because they are attending university in another town or province, or because they want to be closer), and independent students living on their own. One significant cost we do not talk about is debt repayment. It can be a significant burden to a graduate and therefore we recommend that you try to keep your costs down as much as possible so that your total debt over the years of study is kept at a minimum.
Total Annual Expenditures
Dependent, at home: $10,900
Dependent, away from home: $17,400
Independent: $15,100
Source: Canadian Post-Secondary Student Financial Survey 2003–04.
The figures above are an average for across Canada. But you can quickly see that a full time student will need, on average, $14,500 to cover one year of studies. Students can save a lot of money by living at home. Students who live at home receive significant non-monetary contributions from their parent(s). On average the cost for accommodation and food is 9% of the total cost for these students, versus 27% for students living away from home. This chart shows the breakdown of expenditures for full time university students.
Estimated Costs at University of Toronto Scarborough
Below is general guide on how much you can expect your undergraduate education at UTSC to cost. Costs are based on 100% course load (5 half credits per session) for an 8 month study period (September to April) and are subject to change. All costs are shown in Canadian dollars.
- All fees are listed in Canadian currency and are subject to change.
- For the full list of current fees and details, visit www.fees.utoronto.ca.
- The tuition fees listed below for new students entering the campus in 2008 are effective from May 1st, 2008.
| APPROXIMATE 2008-09 TUITION FEES - NEW STUDENTS | ||||
| PROGRAM | DOMESTIC STUDENTS | INTERNATIONAL STUDENTS | ||
| Year 1 | Upper Year | Year 1 | Upper Year | |
| Concurrent Education | $4,985 | $4,985 | $19,404 | $20,374 |
| Computer Science | $4,776 | $7,789 | $19,404 | $21,879 |
| Management | $4,776 | $10,481 | $19,404 | $25,005 |
| All Other Programs | $4,776 | $4,776 | $19,404 | $20,374 |
For tuition fee purposes, a Domestic student is one whose official immgration status in Canada is citizen, permanent resident or protected person; regardless of the country of residence. |
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ESTIMATED ADDITIONAL EXPENSES |
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| ITEM | COST | NOTES |
| Additional Academic Fees Co-op Programs |
$650 - $808 | Approximate annual cost for the administration of Co-op work terms |
| Additional Academic Fees Joint Programs |
$40 - $190 | Approximate annual cost for the administration of internships / field experience |
| Additional Academic Fees Concurrent Education |
$84 | Approximate annual cost for the administration of education teaching placements / field experience |
| Incidental / Ancillary Fees | $950 | Fees are for student services operated by the student union and the university. |
| Residence Housing | $4,307 - $6,234 | Cost includes utilities - heat, electricity and water. Optional meal pans are not included. |
| Books & school supplies | $1,000 | |
| University Health Insurance Plan (UHIP) | $756 | Approximate annual cost. Mandatory for international students. |
Listed expenses are for the 8-month period September to April, unless otherwise stated. |
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Where Will the Money Come From?
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Students have access to a variety of resources to help them pay for educational and related living expenses. The chart below shows that most students rely on three or more sources of income to help meet the costs.
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Sources of financial support include:
- Summer and part time earnings
- Ontario Work-Study Plan
- RESP
- Lifelong Learning Plan (RRSP)
- Bank Loan & Student Line of Credit
- Government Student Loans Program
- Scholarships
- Grants
Summer Earnings
The expectation that you contribute towards your educational expenses is a common principle that is built into most financial aid programs, such as the government student loan program and university bursary or grant programs. Accordingly, your decision to do something else during the summer, such as attend school, do volunteer work, or travel is considered optional and you may have to live with the consequences of that decision.
Students’ earnings from summer jobs can make a significant contribution towards their educational expenses. It is important (especially to your debt load) to work and save as much as you can. Ideally, you will be able to work on a full time basis (at least 30 hours per week), however if that’s not possible due to the economic climate or other reasons, then working part time is better than nothing.
It’s a good idea to start looking early. Don’t wait until the academic year is over to start your job search. Check out opportunities at the Academic Advising and Career Centre. You can also try the Job Bank.
Part-Time Earnings
In order to make ends meet, a lot of students find that they must work while coming to school. The trick is to work just the right amount of time so that it won’t interfere with your academic performance. This is especially true for first year students. First year can be difficult for some students because they are making a transition in many areas, some of which include: learning environment, learning expectations, and living away from home for the first time.
The amount of time you will be able to work will depend upon your ability to balance work and school and your financial need. As a full time student, you are expected to use part-time earnings to help you pay for your educational expenses.
Check out opportunities at the Academic Advising and Career Centre. You can also try the Job Bank.
TopOntario Work-Study Plan
The Ontario Work-Study Plan (OWSP) is one of the components of the Ontario Student Assistance Program (OSAP) and is administered at public postsecondary institutions by the institution’s Financial Aid Office. This program’s objective is to help students meet their financial needs by working part-time during the school year.
Jobs funded under OWSP are designed to suit the needs of a full time student. The work hours accommodate the student’s class schedule and all of the jobs are located on the campus. There are many different types of jobs that are created each year. Another added bonus to you is that the jobs are intended to give you skills and work experience to enhance your employability. The job will look great on your resume!
Jobs are posted at the Academic Advising and Career Centre at the beginning of the school year (September) and once again for the Summer Session (May). Students apply to those positions that interest them. To be eligible for the program you must either be a Canadian Citizen, Permanent Resident or Protected Person and you must demonstrate financial need. If you are eligible for OSAP, you will be automatically eligible for OWSP.
The rate of pay is approximately $10 per hour and the number of hours you can work is 90 per session. You could earn about $1,800 by participating in the OWSP. You will have to report the earnings to OSAP, however it is unlikely to have an impact on the amount you receive (if this is your only source of income for the school year) from OSAP.
Registered Education Savings Plans (RESP)
A RESP is essentially a savings account that parents can open. Many parents start contributing to an RESP when the child is young. Most RESPs allow for monthly deposits until the child is old enough to go to postsecondary education. The most important thing, and the reason they are so popular, is that the savings grow tax free and they earn a competitive interest rate.
The Government of Canada offers two incentives to encourage parents, family, and friends to save for a child’s post-secondary education.
CESG - Canada Education Savings Grant
By applying for the CESG, up to $7,200 can be directly deposited by the Federal Government into your RESP.
CLB - Canada Learning Bond
CLB is available to children born after December 31st, 2003 if an RESP has been opened on their behalf.
A list of prospective RESP promoters can be found on the Human Resources Canada website.
What to Do If You Have An RESP
Normally, the parent can withdraw a certain amount each year to pay all or a portion of the costs. In order to withdraw any amount, the RESP organization normally requires a confirmation that the student is enrolled. This type of verification is available from the Registrar’s Office (Room AA142). Front line staff can provide a letter or complete the necessary form. Depending on the time of year, the student may have to make the request or drop off the form one day and come back to pick up the document. There is a nominal administration fee for this service (an RESP is considered a certification/confirmation of enrolment letter).
If the annual withdrawal amount from your RESP is not enough to cover all your expenses, you may want to consider applying for a government student loan or a student line of credit.
Lifelong Learning Plan (RRSP)
Did you know that you can use your Registered Retirement Savings Plan (RRSP) to fund your own or your spouse’s postsecondary education? You can withdraw up to $10,000 per calendar year for full time studies. Income tax will not be withheld on your withdrawal. You don’t have to include these withdrawals as income on your income tax return. The maximum you are allowed to withdraw is $20,000. You have to repay your withdrawal(s) within 10 years. Full details are available from a pamphlet on the CRA website.
TopBank Loans and Student Lines of Credit
While many students are able to borrow from a government student loan program, some students don’t qualify (parental or spousal income is above the threshold) or may not receive enough funding and must turn to a bank loan or student line of credit to help them cover the annual expenses.
Most banks and credit unions offer personal loans and student lines of credit that you can apply for. This is a more affordable way to pay tuition. Interest rates are usually lower than with credit cards. Criteria and amounts available vary by financial institution. We encourage you to shop around. You can download and print this chart to help you with your comparison shopping.
Who Qualifies and How They Work
Both full time and part time students are eligible for a line of credit. The main difference is that part time students qualify for lower credit line maximums. The way they work is that students borrow the amount of money from the line of credit they need to cover the expenses for the school year. During the year, you have to pay the interest every month. The bank usually allows a grace period after you finish school before you have to start repayment on the total amount you borrowed. When you start repayment you will be required to make monthly payments on both the principal and the interest.
Most undergraduate students will need a co-signer due to the fact that they will not have sufficient income (if at all) and will normally have no assets to offer as collateral. A co-signer is someone who can guarantee the loan for the student in case he/she is not able to pay it. If that happens the co-signer has to take over and make the payments.
Common Pitfall of Student Lines of Credit
Overspending can be easy. Why? Because it can be hooked up to a debit card and, without realizing it, you may be tempted to buy something you didn’t plan for in your budget. Also, the amount you borrow is given in a lump sum, and may lead you to believe you have a lot of money. Remember, it has to last until the end of the year and it’s to pay for tuition, books and rent (the essentials).
How to Apply For a Student Line of Credit
You can go to the bank branch to speak to someone or you can apply online. Below you will find links to four major banks.
Bank of Montreal (BMO)
Scotiabank
CIBC
TD Canada Trust
Government Student Loan Programs
For more information please go to our section, Government Aid or to CanLearn website. To help you understand the difference between a government loan and a student line of credit, we recommend you read the following article, Extra Credit, Know Your Student Loan Options on the StudentAwards.com website.Scholarships
Your diligence and hard work at your studies will translate into excellent academic performance and it can pay off! Look at all the different scholarships available at your university. Some are given automatically and some require an application. For more information on scholarships at UTSC, visit our section, Bursaries (Grants) & Scholarships.
Grants or Bursaries
Grants or Bursaries are free money. A grant is intended to help you with a shortfall in your budget. They are to pay for tuition and other educational expenses, not other debts or expenses that are not essential to your education. When you’ve exhausted all your financial resources, you should apply for a bursary. Most institutions require you to submit an application. For more details on the bursary program at UTSC, go to our section, Bursaries (Grants) & Scholarships.
TopManaging School & Money
University is not a time when you’ll be “rolling in money”. Managing your money is a vital ingredient for your success at university. No matter where the money comes from – a government student loan or working – you can take steps to help it stretch as far as it can go. Not having enough to meet your monthly expenses can add stress to your daily life. By using budgeting skills and strategic planning you will be able to cover your expenses and put some towards having a little fun. Keep reading to get some pointers on how to better manage your money.
MONEY CAN’T BUY YOU HAPPINESS. IT JUST HELPS YOU LOOK FOR IT IN MORE PLACES.
Milton Berle
Juggling Work & School
As the cost of education continues to increase, more students find that they must work and take classes at the same time. But working and studying is not for everyone. Adding a job to the list of demands of full time study may create problems if it cuts into your study or family time. If you want (or need) to work, then it’s important to weigh the potential positive and negative effects.
Potential Positive Effects
- By earning money, you are contributing towards the investment of your education and minimizing your debt load
- General and career experience (good for your resume)
- Better school and work performance (studies show that working up to 15 hours per week can give a person more effective time management and build confidence)
Potential Negative Effects
- Demanding time commitment
- Reduced time for social and extracurricular activities
- Having to shift gears mentally from classroom to work
If after considering the possible effects on your school performance, you decide you will work, then it’s important to think about what you need from the job:
- Salary or wage
- Time of day (does it work with my timetable?)
- Hours per week (will I be able to handle the time?)
- Duties performed (what do I like doing? Will it enhance my resume?)
- Location (how long will it take for me to commute?)
- Flexibility (can I change shifts when I have extra assignments or during mid-terms and final exams?)
Creating a Budget That Works
Every time you have to figure out whether you have enough money in your wallet to pay for something in a store, you’re budgeting your money. Budgeting is a process that considers your resources (money flowing in) and your expenditures (money flowing out) and adjusts the flow so that you come out even or hopefully ahead (money in your bank account).Budgeting is the foundation for financial planning and financial planning is more important than ever during your years of higher education. Your biggest expenses during this time will be tuition, rent and food. Knowing how much it will cost and where the money is going to come is essential to your success. Budgeting will relieve stress and give you a feeling of control. Prepare a budget before classes begin.
IT IS THRIFTY TO PREPARE TODAY FOR THE WANTS OF TOMORROW.
Aesop
What is Budgeting?
It is making a plan for the co-ordination of resources and expenditures. It also involves setting goals regarding money. A budget worksheet tells you where your money goes, what it does for you, and keeps you up-to-date on how much money you have left.
Basic Steps of Budgeting
Budgeting involves the following basic steps:- determine your spendable income (after taxes, sometimes called disposable income or take home pay)
- determine how much you spend (expenses)
- subtract the two totals to determine the result
- evaluate and adjust your spending or earning based on the result
It may be easier for you to start with determining how much you spend rather than how much income you will have. It doesn't matter, do it in the order that makes the most sense for you.
TopDetermine Your Spendable Income
To determine your spendable income, you add all the money you receive (or will receive) during the year. Some examples of the type of income you might have, are:
- Take home pay from part time work
- Savings from a summer job
- Earnings from work study plan
- Money from parents or relatives
- Student line of credit
- Government student loan
- Scholarships and/or grants
Determine How Much You Spend
Count only expenses that you will pay during the school year (e.g. expenses that are billed once or twice a year or every few months, should be calculated into a monthly amount).
- Rent
- Tuition & Incidental Fees
- Student Health Plan
- Books
- Utilities
- Food
- Toiletries
- Household supplies
- Child care
- Public transit or car expenses
- Credit card payments
- Car payments
- Insurance for apartment, or car
- Entertainment (includes cable, movies, books, magazines, restaurants)
- Internet
- School supplies
- Miscellaneous unplanned expenses
Evaluate the Result
This is a two step process. First, you create a budget before the school year begins and second, you monitor your budget on a monthly basis. Hopefully you will have more money coming in than going out. However if you are spending more money than you have coming in, then you must analyze the problem. Here are a few things to consider:
- Question your budget.
- Did you include everything?
- Is your budget realistic?
- Is your income sufficient for your needs?
- Question your spending patterns and priorities.
- Did you spend your money wisely during the summer or the last session?
- Have you submitted your dental and health expenses to the Student Health Plan?
- Can you afford your car?
- Are you using your credit card too much and paying high interest because you're not paying the balance each month?
When you spend more in one month, you need to adjust your budget over the long term, by spending less the next month.
TopMaking Decisions About How to Adjust your Spending or Income
Budget decisions often involve trade offs. When you spend $120 on a new pair of shoes, you may have to forgo a night out with your friends (dinner & movie) a couple of times. When you are making decision, is important is that you look at the big picture (where you are going) and to be strategic about your money decisions.
Making short term sacrifices in order to save money can help you a lot in the long run. However this doesn't mean you should never spend money on things that bring you immediate satisfaction. It's a matter of making choices that provide both short term satisfaction and long-term money growth.
If the result of your budget shows that you are spending (or planning to) spend more money than you have coming in, you must make adjustments otherwise you will get yourself into a hole that will be difficult to get out of. It is often more difficult to adjust the money flowing in, and so it is often quicker and more effective to cut expenses.
Successful Budgeting
- Create your budget before the start of the academic year. Be realistic. If you are uncertain you can live by it, you won’t! Try to set out a realistic money spending allowance and stick with it.
- Keep track (for at least for one month) of your spending habits and keep an accurate record of your savings and chequing accounts.
- Review your budget regularly, adjusting for changes in your circumstances.
- Avoid using credit card(s) on a regular basis. If you find you’re turning to credit regularly, then it is time to review your budget and either decrease spending or increase your income.
Create your own Budget!
Here is an Excel worksheet that you can fill in to make your very own school year budget.
General Tips on Saving Money
Your biggest challenge is to figure out ways to save money and still enjoy life. It involves being honest with yourself about your needs versus wants . This distinction is difficult for the majority of people. For too many of us, a want becomes a need. It will require discipline and don't despair when you slip; just be aware of it when it happens.
Here's an example: your current running shoes are falling apart – and so – you need a new pair. Your decision to buy an expensive pair is a want because you can certainly buy a cheaper brand.
Even making the smallest changes to your spending patterns will save you money. Implement some of these general savings tips and see what a difference it makes to your pocketbook:
Groceries
- Make a grocery list and stick to it. Try to avoid impulse buying.
- Comparison shop when buying groceries.
- Buy in bulk and share with roommates.
- Buy “no name” brands- cheaper.
- Always look on the top and bottom shelves at the store- more expensive name. brands are always kept at eye level.
- Eat healthy- veggies are cheaper than meat.
- Never shop when you are hungry.
- Use coupons and comparison shop; use weekly flyers to make use of food specials to save money.
- Cook your own food; eat out less.
- Saving a dollar here and there adds up in the long run.
- Shopping when you are hungry will make you buy things you don't really need.
Money & Banking
- Set financial goals by having a written financial plan.
- Create a budget and stick to it.
- Keep accurate financial records.
- Give to charities. (Not only are donations, tax deductible, you'll be helping others at the same time.)
- Establish an emergency fund.
- Contribute to a savings program on a regular basis.
- Plan ahead and buy items on sale. Resist impulse buying.
- Monitor your credit spending meticulously.
- Shop for the best interest rate for your investments.
- Banking packages - investigate student packages, be aware of all service charges and especially ATM charges.
- Try to resist using your credit card for impulse buying. Use it for emergencies only. You will avoid costly interest payments and a monthly payment that you may not be able to make (unless, of course, it is in your budget!).
Dining Out
- Use coupons when you can. Restaurants want student business, and they will usually offer coupons to get you there. Student newspapers and coupon mail outs are the best place to find them.
- When ordering, don’t hesitate to order water. Even if you order a pop or juice, the mark-up is huge. Cut out the beverage and you can often cut your bill by 20-30%!
- Consider eating out at lunch rather than dinner. Restaurants often have a lunch menu or buffet almost identical to the one they serve at dinner, only at a much lower price!
- Take advantage of the all-you-can-eat buffet or student special.
- Eat at home more often than at restaurants or on campus.
- Bring coffee to class instead of buying one everyday
- Bring your lunch and a snack; most buildings have a microwave and/or lunch room – it’s cheaper than buying your lunch each day.
Housing, Transportation, and Other Stuff
- Share living space with one or more roommates
- Use local library for books, CDs or videos (it’s free!)
- Rent videos instead of going to the movie theatre
- Take advantage of student discounts for concerts, etc.
- Use the Better Way (public transportation)
- Bring lunch from home
- Shop in second hand stores or the dollar store
- Ask a relative to help with child care
- Buy used books. SCSU, MESA, ABCS and www.books4exchange.com have book exchange forums online, and you should check out the bulletin boards around campus for other used books on sale. Also, the U of T Bookstore usually has used books for popular courses on sale.
- Lease a computer instead of buying one.
- Carpool to school.
- Share a landline with your roommates instead of buying your own cell phone.
- Limit your entertainment budget. Instead, get involved! There is so much to do on campus and lots of free stuff!
- Watch long distance charges, use email instead.
Final Pointers
- Live beneath your means, in other words, spend less than you make. This strategy helps you create savings. Having a nest egg creates a buffer zone in case of an emergency or rising costs.
- Pay yourself. After you pay your monthly bills, put whatever you can in a separate account where it can grow.
Cut Costs Now!
From time to time, financial advisors come out with new lists of ways to save big quantities of money. Here are few money saving tips that are relevant whether you’re a full time student or already graduated and in the work force:
Where Does All My Money Go? |
Cost $ |
|---|---|
|
One movie, every Tuesday, for a year |
260 |
One ice coffee, every school day, for 8 months |
400 |
Order pizza, once a week, for a year |
780 |
One case of beer, once a week, for a year (for >19 yrs old) |
1,248 |
A $30 hair cut, once a month |
360 |
Lunch in SUB, 3 times a week, for eight months |
600 |
Late video return, 2 days late, once a month |
72 |
| $3 cover charge, once a week, for a year | 156 |
Cigarettes, one pack a day ($8), for a year |
2,920 |
Banking Smart
Paying bills and saving requires you to form a relationship with a financial institution – a.k.a., a bank. Choose a bank with convenient locations and hours. Learning how to use a debit card, online or telephone banking can make your life much easier and save lots of time.
Banks offer many different types of accounts, with the most common being savings and chequing. Choose the type of account that best suits your needs. Watch the service fees! Make sure you ask about fees and what you are allowed. For examples, how many withdrawals from an ATM are free?
Banks pay you interest on the amount you deposit. In fact, the bank pays you for the privilege of "borrowing" your money. The same holds true in the case of interest charges that you pay on a bank loan or the money you "borrow" from a credit card.
Interest is expressed as a percentage rate, such as 3% or 18%. The amount of the interest you earn is calculated by multiplying the money you have on deposit by the applicable rate of interest.
If you have $100 in an account that pays 2% interest, you'll only earn $2 in interest.
Compounding interest means to calculate interest on interest. For example, if you earned $2 interest on a $100 deposit, the following calculation will be done on $102, earning you $2.04 and so on.
- Source: Clueless? Not! Empowering Students with Financial Savvy, 75.
Helpful Tips on Banking
- Monitor your spending habits – how often do you write cheques, use your debit card, pay bills at an ATM or your branch, and use the ATM machine?
- Choose a financial institution that has a bank machine close to you. This will limit the temptation of using a bank machine from another bank.
- Get an account that suits your needs. Pay attention to fees for various services (ie. debit card transactions, withdrawals from another bank’s ATM, etc.)
- Look into overdraft if you know that the end of the month is a tight time for you.
Managing Credit Cards
Believe it or not, you will be inundated with offers for VISA and MasterCard once you start university. Getting a credit card can be a double edged sword. They can help you manage your money, but they can also plunge you into a hole of debt that will take you years to dig out of.When used properly credit cards are a handy alternative to cash. They give you peace of mind that you have money for an emergency and they will track your spending. You can build a strong credit history by paying your bill on time each month.
How Credit Cards Work
You can make a lot of different types of purchases on credit – from textbooks to a vacation. Each time, you make a purchase, the store or company accepts immediate payment from the credit card issuer and you accept the responsibility to pay the money back. The credit card issuer earns money by charging interest on any unpaid balance. Watch out – interest rates are high – 19% to 20% is not uncommon.
Avoid the Pit Falls of Credit Cards
It takes self-control to avoid overspending. To avoid overspending and consequently, excessive debt, ask yourself:
- Would I buy this if I had to pay cash?
- Will I be able to pay it when the bill comes in?
- If I buy this, what will I have to give up?
- If I buy this, will I have enough for an emergency?
Managing Debt
The majority of Canadians have some level of debt and many may go through periods when they struggle to keep up with their bills. Falling behind in payments could result in poor credit ratings that will make it difficult later to borrow money to buy a car or other large purchase.
- You need to be careful when using your credit card
- Abusing your credit card can damage your credit rating
- Two companies track and collect credit information: Equifax Canada and TransUnion Canada
- Stay in control by paying regularly and on time and with credit cards the minimum amount due
If you get into trouble:
- Admit you made a mistake (even though you may be embarrassed)
- Address the problem immediately to minimize the damage
- Call the creditor and see if you can pay your debt gradually by using a payment plan
- Examine what got you into trouble and avoid it in the future, if you can.
- You may have to cut up the credit card(s).
- If you clean up your act, your credit history will eventually get cleaned up as well.
Financial Counselling
Before you start your academic career, and throughout, you should be tracking your student loan indebtedness. The more money you borrow, the more you have to repay when you finish school. Upon entering the workforce, your monthly student loan payment is likely to be a major expense. You will have to think about how your salary will enable you to meet this financial obligation and others, such as rent, food, transportation and entertainment. It’s important for you to be aware of your spending habits and to manage your money so that you are living within your means. If you ever have any difficulty meeting your monthly obligations, be proactive about it. Don’t let it slide or think it will all resolve itself. Safe guard your credit rating; seek help. Many educational as well as financial institutions, offer courses in budgeting and credit. Credit Canada, a non-profit agency, helps individuals get control of their debt.
Internet Resources & Books
Detweiler, Gerri. The Ultimate Credit Handbook, 3rd ed. New York : Plume, 2003
Tyson, Eric. Personal Finance for Dummies. Foster City , CA : IDG books Worldwide, 2000
Baker, Murray. The Debt-Free Graduate. Vancouver , BC : Money$marts Publishing, 2008
Smiley, Jennifer & Snell, Cynthia. Clueless? Not! Empowering Students with Financial Savvy (cynerje Publication, 1998).
Saving for Your Children's Education by the Canadian Bankers Association (2000).
Bach, David. Smart Women Finish Rich. Doubleday Canada, 2003
Canlearn.ca - Use the education cost calculator, budget calculator and loan repayment calculator to organize your finances.
Canadian Bankers Association - The Canadian Bankers Association has great budgeting tips, strategies and information about credit and investing.
FundYourFuture.ca - This website includes a budget worksheet, educational expense calculator, information on government student loans and budget tips and tricks.
Prentice Hall Student Success Supersite – Money Matters www.prenhall.com/success/MoneyMat/index.html
The Debt Free Graduate http://www.debtfreegrad.com/
The Danger of Debt - Lots of information on personal finance. Look in the Archives - 2002 for this article. http://www.carleton.ca/ottawainsight
Graduate Studies
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