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HNM Guide For Scholarships and Financial Information |
IMPORTANT TERMS…
Be sure you know the meaning of the different terms.
Scholarship: A scholarship is an award based on academic merit (marks) but there may be other considerations as well. An application may or may not be required. It may or may not be renewable, with the award continuing each year if marks are kept up.
Bursary: A bursary is a gift based on financial need. No repayment is required. Applications are usually required. Detailed information about your personal financial needs may be requested.
Ontario Student Assistance Program (OSAP): OSAP is a government approved loan. An on-line application to OSAP must be done in the spring once you have accepted a post-secondary offer. The original loan must be repaid, but the interest on the loan and repayment doesn’t begin until after you stop attending the post-secondary institution. OSAP is a needs-based program and is based on a formula that compares your educational costs to expected contributions from your parents.
Loan: A loan is usually provided by a financial institution (e.g. banks, credit union). It must be repaid.
Award: This is typically granted in recognition of outstanding achievement. This may be in the form of a certificate, a book, a plaque or monetary sum.
DIFFERENT TYPES OF SCHOLARSHIPS
Entrance Scholarships Offered by the Post-Secondary Institution
These are offered more by universities than colleges. They often do not require an application; the student is automatically considered when he/she applies to the institution. The amount of the scholarship depends entirely on the admission average achieved. It may or may not be renewable in other years.
Scholarships Offered by the Post-Secondary Institution requiring an Application
These are used by universities to attract “superstar” students. In addition to outstanding academic achievement, the applicant must have considerable involvement in extra-curricular activities. The application allows the student to tell about their extraordinary involvement in these extracurricular activities. Competition for these significant amounts of money is intense. Sometimes a nomination by the school is required.
Privately-Donated Scholarships
These are offered by community organizations. Anyone can apply, but that are highly competitive; they require outstanding extra-curricular involvement and usually outstanding marks. Different scholarships value different things. Some may favour sports involvement, and others may favour community service. These require an application.
Criterion-Specific Scholarships
These are offered by community organizations. Only students who meet a specific criterion are allowed to apply. Perhaps the student must have a parent employed by the company, or must belong to a specific cultural or community group or must have achieved in a specific area like music or community service. These require an application, and may be more difficult to find.
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OUR ADVICE…
TOP 10 TIPS FOR SCHOLARSHIP APPLICANTS:
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Get the best marks you can in your grade 12 courses. Entrance scholarships, the most common type of award, are based entirely on marks; the higher the average, the more money awarded. No application is required.
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Be prepared to spend LOTS OF TIME searching for scholarships, and begin as soon as possible-by the time you’re in grade 12, you’ve hit the ground running! Students often hear that lots of scholarships go unclaimed. This may be true, but if they are unclaimed it is because they are hard to find and no one knows about them, or because few people meet the very specific selection criteria.
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Use the internet in your search. We suggest the following sites:
http://www.electronicinfo.ca (Ontario university site) Go to Searchable Scholarships
http://www.ontariocolleges.ca/portal/page/portal/ONTCOL/Confirm/FinancialIssues/ScholarshipsAwards
http://www.osca.ca (Ontario School Counselors site) Go to Student then Scholarship
http://www.schoolfinder.com /finance
http://www.ScholarshipsCanada.com
http://www.StudentAwards.com
http://www.millenniumscholarships.ca (offers a range of bursaries, awards and scholarships)
http://www.futureaces.org
https://osap.gov.on.ca/eng/eng_osap_main.html (funded by the Provincial and Federal Governments)
http://www.canlearn.ca (Government of Canada website dedicated to postsecondary planning and financing)
http://www.globecampus.ca (University comparisons and money finder)
http://www.ncaa.org (for American athletic scholarships)
http://www.college-scholarships.com (for US info)
http://www.prepskill.com (SAT and PSAT preparation program offered in Toronto area)
http://osap.gov.on.ca/eng/not_secure/Plan_Grants_full_sepepp_BSWD_12345.htm
(Bursary for Students with Disabilities and Canada Student Grant for Services and Equipment for Persons with Permanent Disabilities)
- Check the website of the universities and colleges to which you will apply. They ALL offer something…
- Check for scholarship info in the Guidance office or on the Scholarship bulletin board in the cafeteria. Both contain information on scholarships sent to us. They are updated regularly. If you are interested in getting an application for scholarships posted on the bulletin board, you may either come to guidance or go online to the website posted..
- Check with your parents to see if their employers, or cultural and/ or community groups to which they belong offer scholarships. These are not always advertised, so your parents may need to inquire.
- Be prepared to spend TIME on the application. Remember you are trying to impress people enough to give you money. Take the task seriously. Don’t procrastinate. You may need time to order official transcripts. The Transcript Request Form can be downloaded from our school website. The Guidance Office requires 5 days upon receipt to process your request.
- You will also need time to get letters of reference. Remember to give your chosen references at least 2 weeks notice for a reference letter. For these scholarships, be sure to get your completed application in to the guidance office for review before the deadline. APPLICATIONS ARE NEVER ACCEPTED LATE!
- Be realistic. Review all the possibilities and make a short list of the scholarships that you have the best chance of getting. Apply for those even if they are for smaller amounts. Sometimes students apply for “superstar” scholarships, don’t get them, get discouraged, and don’t even apply for smaller ones that they might actually have a chance of winning. Remember…money adds up!
- KEEP ORGANIZED! Write all deadlines on a special calendar in advance and keep a separate file folder for each scholarship and/or College/ University you’re applying to. This will help reduce any anxiety, keep you organized, and allow you to easily meet deadlines.
NOTE: If several students wish to apply for the same scholarship and the school can nominate only one person, then the Principal will review the applications and choose the application that is most impressive.
TIPS FOR THOSE INTERESTED IN LOANS OR BURSARIES:
1. Consider applying for OSAP (Ontario Student Assistance Plan) in the spring. General information can be obtained at http://osap.gov.on.ca. It is best to wait until you are accepted by a university or college before applying. A student can be considered for a Queen Elizabeth II Aiming for the Top Scholarship simply by checking a box on the OSAP application.
2. Once accepted by a college or university, after applying for OSAP, approach the Financial Assistance office on-campus to ask about bursaries based on financial need and on-campus part-time jobs. There may be more bursaries available than you think.
TIPS FOR THOSE WITH CONSIDERABLE COMMUNITY SERVICE HOURS:
There are scholarships offered for those who are very active within a community; however, do consider applying for awards even if there is no money attached. Having a Youth Award to include on a postsecondary application or a resume may be very helpful in the future.
See your counsellor if you intend to submit an application.
