48 BUDGET WELL Budgeting for your frst year T allying the cost of your frst year as a postsecondary student can be intimidating At Laur entian we endeavour to make university mor e af for dable for all students Her e ar e examples of how two students fnanced their frst year at Laur entian E a c h s tude n t s f n a n cia l s i tua tio n i s u n iq ue a n d we c a n h e l p yo u n a v i ga t e t h e n u m e r o u s o p tio n s T e go ve r n m e n t loa n s a n d g r a n ts o u t l i n e d a bo ve a r e ba s e d o n a s s i s t a n c e t o a s i n g le O n t a r io s tude n t q ua l i f y i n g f o r OSAP G o ve r n m e n t f n a n cia l a s s i s t a n c e f r o m o t h e r p r o v i n c est e r r i t o r ies w i l l va r y BEN Admission A verage 81 Bachelor of Arts COST FOR FIRST YEAR T uition and student fees 713364 Books supplies printing 80000 Accommodations living at home 000 V ehicle 250000 Other Expenses 240000 T otal cost for frst year 1283364 FINANCIAL PROFILE Academic Excellence Scholarship 100000 OSAP Loan 480000 OSAP Grant 410000 Savings 150000 Subtotal of initial contributions 1140000 Based on a household income of 50000 with four family members BEN COMPLEMENTED HIS BUDGET BY Applying to bursaries and other scholarships 30000 Starting parttime work on campus thr ough W ork Study pr ogram 250000 Sum of funds to fnance his frst year 1420000 Ben managed a wellbalanced budget with some allowance JOELLE Admission A verage 85 Bachelor of Business Administration COST FOR FIRST YEAR T uition and student fees 856804 Books supplies printing 60000 Accommodations living in r esidence 690600 Meal plan 481400 Bus plan included 000 Other expenses 240000 T otal cost for frst year 2328804 FINANCIAL PROFILE Academic Excellence Scholarship 150000 Laur entian Bursaries 50000 OSAP Loan 840000 OSAP Grant 260000 Savings 250000 Subtotal of initial contributions 1550000 Based on a household income of 90000 with four family members JOELLE COMPLEMENTED HER BUDGET BY Getting a par ental contribution 400000 Holding a parttime job at a local sportswear stor e 440000 Sum of funds to fnance her frst year 2390000 Joelle s budget is tight but balanced CHOOSE YOUR PROGRAM