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 ; accommodation,such as residence fee

books and materials; transportation; food; and various necessities.

2. How are government loans administered?

 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 supply in their province of residence.

3. Who can receive government student loans?

the eligible students based on demonstrated financial need.

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

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

CSL (Canada Student Loan) program and the provincial student loan program (e.g., OSAP—Ontario Student Assistance Program)

Private student loans or lines of credit are offered by many banks and credit unions.In addition, many medium to large corporations and private organizations also offer scholarships, bursaries and awards for students.

6. What is an appropriate title for this talk?

Canada  loans for post-secondary students

Task 3:

Listen again and complete the text with the missing words.

Par. 1 Studying at a university or college can 1._involve______________ various costs. Depending on the program or school, 2. __Tuition_____________ can vary from $2,500 to $8,000 or more per year. !a 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 pay for_____(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. ___resource_____________ 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.

Apply for Canada Student Loans - Eligibility

• 1. Overview
• 2. Eligibility
• 3. Apply
• 4. After you've applied

2. 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 status).

Need assessment tables can help you figure out whether or not you might be eligible for financial assistance.

Note: To continue receiving student loans and grants each year you are in school, you must maintain satisfactory grades.

Maximum lifetime limit for student financial assistance

There are lifetime limits on the amount of student financial assistance you can receive. This includes both loans and interest-free periods for each loan. Once a lifetime limit has been reached, interest starts to accumulate. You will also have to start paying back the loan six months after you graduate or leave your studies.

Lifetime limits for Canada Student Loans vary:

• Full-time students who received loans on or after August 1, 1995, are eligible to receive student financial assistance for no more than 340 weeks.
• Full-time students enrolled in doctoral studies are eligible to receive student financial assistance for no more than 400 weeks.
• Students with either a permanent disability or who received Canada Student Loans before August 1, 1995, are eligible to receive student financial assistance for no more than 520 weeks.

3. Apply

Once you have verified you are eligible for a Canada Student Loan and that you have not exceeded your lifetime limit for student financial assistance, you are ready to apply for your student loan.

Step 1: Get a Canada Student Loan and Grant application form

Only one form is needed to be assessed for loans and grants.

Application forms are available:

• online through the student financial assistance Web site of your province or territory; and
• by contacting your provincial or territorial student financial assistance office.

Step 2: Complete the application form

Complete and send your application form for federal and provincial student assistance to your province or territory of permanent residence. You can speed up the process by submitting it online.

Application procedures by province/territory

Application procedures are based on your province of residence, not the province or territory where you plan to go to school.

Step 3: Check your mail or email for your Notice of Assessment

Your Notice of Assessment will tell you if you qualified for a loan and grant. You may receive it through the mail, online or by email.

If you qualified:

• You may receive a Master Student Financial Assistance Agreement (MSFAA) if you have not previously completed one. You must read, sign and return it to the NSLSC along with your banking information.
• Part-time students will receive 2 separate documents:
  • Certificate of Eligibility Part-Time Student Loans and Grants; and
  • Canada Student Financial Assistance Agreement for Part-Time Students.

If you are not approved for funding or you are not satisfied with the approved amount:

• Contact the student financial assistance office in your province or territory. There is a formal reassessment process for students who disagree with the financial assistance they have been awarded. Amounts can be reassessed according to your province or territory's own criteria, and those of the federal government.

Step 4: Review your loan documents and confirm enrolment with your school

If you are approved for full-time funding, you must review your Master Student Financial Assistance Agreement (MSFAA):

• Your MSFAA is a legally binding contract, it is important that you review it carefully and read the terms and conditions.
• Check your personal information to make sure it is correct. If not, contact your provincial or territorial student financial assistance office.
• Include your banking information and a void cheque if you want your money to be deposited directly into your bank account.
• The MSFAA is a multi-year agreement. This means the next time you apply for student financial assistance, you won't have to sign and submit a new MSFAA. Just complete and submit an application through your province of residence and wait for your Notice of Assessment to come in the mail or online.

Step 5: Sign your student loan documents

Make sure you fully understand your responsibilities and commitments before signing. Your loan agreement is a legal document and your signature means you agree to be bound by its terms and conditions.

Once you are sure that all the information is correct and you have read and accepted the terms and conditions, sign your agreement.

Step 6: Submit your loan documents

Submit your completed and signed MSFAA.

Bring the following identification to a Canada Post outlet:

1. A valid photo identification issued in Canada by the federal, or a provincial or territorial government, such as:
   • a valid driver's license;
   • a passport;
   • a provincial health card with a photo;
   • a permanent residency or citizenship card;
   • a certificate of Indian status;
   • a federal or provincial employee identification card; or
   • a Record of Landing accompanied by an expired Permanent Residence Card.
2. A document proving that the Social Insurance Number (SIN) on your loan or grant documents is yours. For example, you can show your SIN card or present an official Government of Canada document that has your SIN on it, such as:
   • a Canada Revenue Agency Notice of Assessment;
   • a Canada Pension Plan Statement of Contributions;
   • a Confirmation of Social Insurance Number from Service Canada; or
   • a temporary SIN card.
3. Your signed MSFAA. Do not forget to attach a void cheque or fill out your banking information.

Step 7: Confirm your enrolment

Before you can receive your student loan and/or grant money, your school must confirm you are enrolled at a designated post-secondary institution. Upon receipt of your signed MSFAA, a Confirmation of Enrolment should then be completed electronically on your behalf, otherwise you will be contacted to have one completed.

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