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SBA Guidance Department presents Scholarship In-Service

SBA Guidance Department presents Scholarship In-Service. “ Show me the [way to the] money !”. Mythbusters. Myth #1: There is a “scholarship season” and once that passes, all the money is gone. Myth #2: My parents are paying for everything, so I don’t need to apply for a scholarship.

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SBA Guidance Department presents Scholarship In-Service

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  1. SBA Guidance Department presents Scholarship In-Service “Show me the [way to the] money!”

  2. Mythbusters Myth #1: There is a “scholarship season” and once that passes, all the money is gone. Myth #2: My parents are paying for everything, so I don’t need to apply for a scholarship. Myth #3: Scholarships are only for top students or those in financial need. Myth #4: Finding scholarships is hard work. • It is not difficult to find them; it just may be time consuming initially to apply for them (ie gathering all of your documents, referrals etc.)

  3. Mythbusters Myth #1: There is a “scholarship season” and once that passes, all the money is gone. • Scholarships & awards are available throughout the year & new ones are always popping up so start looking for them now & keep looking until you finish school. Myth #2: My parents are paying for everything, so I don’t need to apply for a scholarship. • For many of us this isn’t the case & even if it is, applying for scholarships teaches you how to ‘pitch’ yourself as well as how to tap into a new network for referrals. Myth #3: Scholarships are only for top students or those in financial need. • Money is awarded for a variety of reasons, including being nice! (June Callwood Harmony Scholarship – rewards youth who promote harmony & diversity). Myth #4: Finding scholarships is hard work. • It is not difficult to find them; it just may be time consuming initially to apply for them (ie gathering all of your documents, referrals etc.)

  4. The Big Picture • Finding a rewarding career/vocation requires you gain a skill that makes you appealing to an institution or corporation. Pathways in gaining that skill include… • college>university (e.g Accounting, Nursing) • university>college (e.g. Hon. BA, Marketing, Real Estate) • University>grad school (MA, BEd, MD, PHD, LLB) Average (university) fees in Ontario based on a Stastics Canada $6,800 - $7,100 (http://www.statcan.gc.ca/daily-quotidien/120912/t120912a001-eng.htm) *Actual fees may vary from school to school, program to program. See specific school/program for exact figures.

  5. Some Scary Math… • Average 4yr university degree WITHOUT residence fees = $27,200 - $28,400 • Average 4yr university degree WITH residence fees = $28,400 + $10,000 per year (http://www.residenceatwestern.ca/rates.cfm) = $68,400. Loan Repayment 10yr term = $800 per month. Total repayment principal + interest = $96,000 (http://tools.canlearn.ca/cslgs-scpse/cln-cln/crp-lrc/af.nlindex-eng.do_ Conclusion: Scary.

  6. You’ve graduated with a Hons BA, now what? • You did get into a post grad program. • BEd - $10,000 + residence fees • MA - $8,000 + residence fees • Dentistry - $16,910 + residence fees • Medicine - $11,891 + residence fees • Pharmacy - $10,297 + residence fees • Executive master of business administration (MBA) $38,508 • Regular MBA program - $23,757 • Law - $22,000 (Osgoode @ York) (http://www.statcan.gc.ca/daily-quotidien/120912/dq120912a-eng.htm)

  7. On the other hand… • A diploma/post graduate diploma/certificate from a college will cost you “Below is a summary of the average cost of tuition for one academic year in an Ontario college program. Please note that these figures do not include living costs, such as rent, utilities, transportation, etc. We have also included information on ancillary fees (student activity fees, athletic fees, health insurance, etc.) as well as estimates for books and supplies. Diploma Programs - $2,400 Graduate Certificate Programs - $3,600 Bachelor’s Degree Programs - $6,100 Collaborative Programs - $5,000 Ancillary Fees - $800 Books and Supplies - $1,300” (http://www.ontariocolleges.ca/ontcol/home/confirm/money-matters/tuition-fees.html)

  8. How are you going to finance your education? • Work • Savings • Daddy/mommy/grandparent • Government loans • SCHOLARSHIPS/BURSARIES/GRANTS

  9. Introduction Each year, millions of dollars in scholarships go unclaimed! Pursuing scholarships require…  • Investment of time & research. • Meeting minimum criteria as set out per scholarship • A high minimum average and a not so high minimum average • Belong to a certain nationality/ethnic group • Many, many many other criteria • Transcripts, letters of recommendation, essays etc. • Firm deadlines “It pays to plan ahead. It wasn’t raining when Noah built the ark.”

  10. Types of Scholarships “Automatic Consideration” - Post-secondary Institution Scholarships Most universities, colleges and private institutions have admission or entrance scholarships for first year students. See www.electronicinfo.ca for specifics as well as peruse the institution’s website. “Need to apply” - Corporate and Community-based Scholarships Businesses and / or organizations typically offer these scholarships. They may be culturally, ethically or religiously focused. Some community-based scholarships recognize specific achievements like academics, leadership skills, or community involvement, etc. The selection criteria is usually very specific; therefore, please review this carefully to determine if you qualify. For some of these scholarships, anyone can apply but others require the school to nominate an individual. TD Canada Trust Scholarships for Community Leadership 2011/2012 award winner, SBA graduate Joey Loi. (http://www.tdcanadatrust.com/products-services/banking/student-life/winners.jsp) Employer-based / Union-based Scholarships Some larger corporations, business and employee unions offer scholarships to the children of their employees/members.

  11. The Application Process  Direct Application Scholarships For most scholarships, students apply directly themselves by completing and mailing the application package to the institution. Important aspects: Postings – Announcements, bulletin board just outside the Guidance office and Guidance webpage. SEEK! Deadlines – Postmarked vs. received – check to see which of these pertains! References – Be courteous and give your reference a lot of time and direction. See also mailing instructions. Transcripts – Printed once a day. Call ahead. Essay Writing – Do not shy away. Review and proofread. Seek assistance.

  12. The Application Process • Submit your name to Guidance for each scholarship that you believe you qualify for. A sign up folder with corresponding sheets will be located at the front desk. • In order for us to determine the best candidate for the various scholarships, please complete the nomination form (pg. 8) and submit it with your resume. The planner on pgs. 9 & 10 can be used to organize your resume information. • Return the nomination form and resume to Mr. Mittone or Ms. Santos ASAP. Only successful candidates will be contacted. • ** To be considered for any scholarship that requires a school nomination you only need to fill out the nomination form ONCE and submit your resume ONCE. • ** However, you must submit your name each time you wish to be considered for an individual scholarship by signing up at the front desk in Guidance.

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