University of Toronto - Scholarships, Grants And Much More…

At this point you’ve done some research and you know that the cost of higher education isn’t cheap.  Now it is time to figure out where you’ll get the money to pay for it.  Most Canadian university students rely on the following sources to pay for their education:  family, earnings from summer jobs, and student loans.  If you realize that you still won’t have enough, you’ll also be able to find additional help at your school through either a scholarship or bursary or both. 

This year, University of Toronto (U of T) allocated approximately $3.6 million worth of financial aid (scholarships, bursaries, financial aid programs) for students at the Scarborough campus. Many students do not know what financial aid opportunities are available when they enter first year.  This article will help you understand the difference between a scholarship and bursary and how to qualify for one or the other.  Through its various financial aid programs and scholarships, University of Toronto enables students to more easily afford their postsecondary education.

Admissions Scholarships at U of T Scarborough
Admissions scholarships at U of T generally fall into two categories: automatic consideration, and those requiring an application. There are 19 major scholarships available in these two categories. Automatic scholarships are generally awarded to those students demonstrating outstanding academic achievement.

Other scholarships requiring an application are much more flexible. The criterion for these scholarships includes some or all of the following: community involvement, leadership initiatives, academic achievement, as well as the need for financial assistance.

Some of the most coveted admissions scholarships offered include the U of T Scholars Award with the possibility of being awarded $5000 and the National Scholarship with the possibility of being awarded the amount of your entire tuition, and residence support in your first year as well as a renewable cash award. The deadlines for many of our scholarships are earlier than you think hence it is important for you to apply as early as possible!

Scholarships after first year
Beyond first year, there are many different In-Course Scholarships and Awards.  Some are automatically awarded, and others are based on nomination or application. The criterion for awards varies, so don’t assume that you must have stellar academic performance to qualify (it certainly won’t hurt!).  Many awards are given on the basis of community involvement or leadership.  Read the criteria of each award carefully and early in the year (around January) make a list of possible awards for which you may be eligible.  Decisions for awards are generally made in the late summer. 
Greater detail on scholarships can be found on our Financial Aid website.
 
Bursaries and Grants
Maybe you didn’t get a scholarship and maybe your marks are not at their highest, but you still need some financial aid.  Who says you can’t get help? U of T Scarborough offers bursaries and grants to students who can demonstrate they have financial need. What’s great about this is that the money is yours to keep – no need to worry about interest fees or paying someone back. All you need to do is be a full time student and fill out the online application. This application will calculate your financial need based on your estimated expenses and expected income. If your expenses exceed your income, and you meet the eligibility requirement, a bursary will be issued to you.

UTAPS: University of Toronto Advance Planning for Students
Unique to U of T, UTAPS is an excellent example of our commitment to helping students pay for their education.  UTAPS helps full time students who are Canadian citizens, permanent residents or protected persons and are eligible for need-based government student assistance or funding from a First Nations band.  UTAPS has two important aspects:
-    It can be used by new students as a financial planning tool
-    It provides additional grant assistance to students who are receiving OSAP (or other government student assistance).

UTAPS as a Financial Planning Tool for New Students
Often times new students fall into two categories: those in the dark about their financial situation or those concerned about the financial cost of attending university. Regardless of what category you fall into, UTAPS can help. By simply filling out the online UTAPS application, you can get an assessment of the amount of funding you can expect to receive from all forms of financial assistance. Once you are accepted, you will be notified of your UTAPS eligibility with your offer of admission letter.

UTAPS as grant assistance
For every new and returning student, the University examines the OSAP assessment, which we receive from the provincial government in September, to identify all students who qualify for UTAPS grants. We then write directly to students to notify them of their eligibility. In other words, if you’re receiving the maximum amount from OSAP, but you’re still short $5000, U of T would give you that amount as a grant – no need to pay it back!

First Nations students and students from other Canadian provinces and territories, who are receiving student financial assistance, are eligible for UTAPS.  Procedures vary slightly from Ontario residents. 
 
For further information on UTAPS including application procedures, eligibility requirements and to complete a UTAPS application go to the Admissions and Awards website.