Wednesday's assignment

Wednesday's assignment

Financing Post-Secondary Education

Task 1:

You will hear the words below in a talk here about financing post-secondary education. Match the words with their meanings; write down the letter next to the word.

1. __d_ rely on                                                    a. given

2. __e_ eligible                                                    b. not enough

3. __a_ granted                                                  c. accumulated

4. _b__ insufficient                                            d. depend on

5. _f__ contribution                                         e. qualifying

6. _c__ accrued                                                  f. gift

Task 2:

Listen to the talk and answer the questions below.

1. What expenses can the cost of post-secondary education in Canada include?

tuition ,residence fees, as well as the cost of books and other materials, transportation, food and various necessities.
2. How are government loans administered?

   paid through a combination of the CSL (Canada Student Loan) program and the provincial student loan program 

3. Who can receive government student loans?

 students financial resources available to students are deemed insufficient to meet a student’s education expenses. 

4. Why are government student loans better than personal bank loans?

Because government student loans don"t need to pay all interest of loan.

5. What other forms of financial assistance are available to students?

scholarships, bursaries and awards.

6. What is an appropriate title for this talk?

    The introduction of government student loans

Task 3:

Listen again and complete the text with the missing words.

Par. 1 Studying at a university or college can 1.__involved_____________ various costs. Depending on the program or school, 2. __tuition_____________ can vary from $2,500 to $8,000 or more per year. !e cost of post-secondary education can also include the cost of 3. ___accommodation___________, such as residence fees, as well as the cost of books and other materials, transportation, food and various necessities. Many students in Canada rely on help from the government and financial institutions to finance their education.

Par. 2 Government programs are the form of financial assistance most often 4. __utilized_________to finance university education. Government student loans provide money to 5.__eligible___________ students based on demonstrated financial need. Funds are paid out through a combination of the CSL (Canada Student Loan) program and the provincial student loan program (e.g., OSAP—Ontario Student Assistance Program). Students  6.____apply__________ in their province of residence.

Par. 3 Government student loans and other funds are granted only when other financial 7. __resources______________ available to students are deemed insufficient to meet a student’s education expenses. These resources include family contributions, part-time work, 8. __scholarships_____________, bursaries, etc. If a student is under 19, a parent or a legal guardian or sponsor needs to 9. __co-sign_____________ the loan document.

Par. 4 Government student loans offer a great advantage over personal bank loans as full-time students can qualify to have their 10. __accrued____________ interest paid for by the federal and/or provincial government while they are still studying.

Par.5 Private student loans or lines of credit are offered by many banks and credit unions. The main difference between them and the government programs lies in how the interest 11. _is__repaid____________. In private loans or lines of credit, the student is responsible for all the accrued interest as soon as the loan has been 12. _____signed__________. In addition, many medium to large corporations and private organizations also offer scholarships, bursaries and awards for students.
Task 4:

Who wouldn’t like to have some free money?  Click on this link and search the eligibility criteria for grants, bursaries, and scholarships, plus the estimated amount as well.  Share this information with your classmates. 

 student loan

Eligibility

To qualify, you must:

• be a Canadian citizen, a permanent resident of Canada or designated as a protected person;
• be a permanent resident of a province or territory that issues Canada Student Loans (Note: The Northwest Territories, Nunavut and Quebec operate their own student loan programs. Contact your provincial or territorial student financial assistance office for more information);
• demonstrate financial need;
• be enrolled in at least 60 percent of a full course load (40 percent for students with permanent disabilities) if you are a full-time student;
• be enrolled in 20-59 percent of a full course load if you are a part-time student (if you are a student with permanent disabilities and you are studying between 40-59 percent of a full course load, you can choose to be considered a student in full or part-time studies);
• be enrolled in a degree, diploma or certificate program offered by a designated post-secondary school that runs for at least 12 weeks within a 15-week period;
• pass a credit check if you are 22 or older and are applying for your first Canada Student Loan; and
• not have exhausted your maximum lifetime limit for financial assistance (including interest-free statu

grant:

 Eligibility

The Canada Education Savings Grant is available until the end of the calendar year in which the child turns 17, as long as:

• the child is a Canadian resident;
• the child has a valid Social Insurance Number;
• an RESP has been opened in their name; and
• a request is made for the grant.

Children who are 16 or 17 years old may be eligible to receive the Canada Education Savings Grant if at least one of the following conditions is met:

• a total minimum of $2,000 was contributed to (and not withdrawn from) the RESP of the child before the end of the calendar year they turned 15; or
• a minimum annual contribution of $100 was made to (and not withdrawn from) the RESP in at least four of the years before the end of the calendar year the child turned 15. 

scholarship: