F.A.T.S. Knows!
The Ministry, OSAP, Canada Student Loans, and the National Student Loans Service Centre have determined that they will NO LONGER ACCEPT your student ID card as proof of identity for financial aid.
Effective May 1, 2008, you MUST provide government-issued photo ID (for example, a passport, citizenship card, provincial driver's license, provincial health card with a photo) as proof of your identity, along with your Social Insurance card, when dealing with the Financial Aid Office. Your Fanshawe student card can no longer be used as proof of identity for OSAP purposes.
The Financial Aid Office must follow these directives, so if you don't have government-issued photo ID at this time, we urge you to get it as soon as possible, or we will be unable to help you with financial aid.
Be financially ready for next fall
Working this summer? Here are some tips to help you financially when you return to school.
1. Apply for OSAP early (before July 1, 2008). Apply online at http://osap.gov.on.ca and save $10.
2. Are you returning to full-time studies for the 2008/09 academic year? OSAP expects you to be employed full-time during the summer and to save a minimum of $2,300 towards your expenses for the 2008/09 academic year. The more money you can contribute towards your education costs, the less debt you incur in student loans. You'll have more money to do the things you want when you graduate and find employment.
Tips for saving money over the summer
- Set a saving goal: Once you know how much you'll make in the summer, set aside money and don't spend it on anything else.
- Set a summer budget: This will help keep your spending in line. If possible, have your employer automatically deposit your earnings to your savings account. Then withdraw only the money you have budgeted for expenses, and only once a week.
3. Can't find enough employment this summer? Keep a record of your search for work so you have the documentation required to initiate an appeal of your OSAP entitlement.
4. Continue to live the lifestyle of a student. Be frugal. Don't use your summer savings to buy big-ticket items, including furniture, electronic equipment, a car or a trip.
5. Credit cards - don't use them! Pay down any debt you have incurred.
6. Sublet! If you signed a 12-month lease here and you're going home for the summer, sublet your apartment.
7. Do not lend your summer savings.
8. If you are moving, make sure you give your new address information to:
National Student Loans Service Centre, Public Institutions Division
P.O. Box 4030
Mississauga, Ontario L5A 4M4
Tel: 1-888-815-4514
9. Stay informed. Information on repaying your student loans is available at www.canlearn.ca.
10. Don't forget to book your appointment to pick up your OSAP. The appointment system opens Monday, August 18, 2008. During the last week of August and all of September, you need an appointment to speak to a Financial Aid Officer or pick up your loan documents.
10. Have a great summer and see you in September.
... We're working for you.
This column is a Student Success Initiative sponsored by Counselling and Student Life Services, Financial Aid and the Office of the Registrar.
