Fees & Financial Matters

• Undergraduate Students - Tuition and Fees
• Tuition Refund Policy
• Financial Aid Programs
• Short-Term Interest-Free Loans
• Scholarship and Bursaries
• Provincial/Canada Student Loan Programs

Undergraduate Students

2012-2013 Cost Breakdown - Sample
2012-2013 Fee Schedule - Detailed

• The fees and charges provided in the Cost Breakdown and Fee Schedule, are an estimate of the cost associated with attending full-time studies at Master’s College and Seminary for one year. These charges should only be used as a guide.
• If you have general inquiries regarding finances, please contact the Finance Office: Ben Cochrane
• For specific questions regarding Student Loans, please contact the Financial Aid Office: Donna Haug
  
• Fees can be paid by cash, cheque, money order, direct debit, Visa or MasterCard.
• See Master’s Payment Plan for information on your payment options.

Tuition Refund Policy

Tuition refunds are provided to students, according to the dates on the current Fee Schedule, providing a Drop/Add Form is submitted to the Registrar’s Office. A $25.00 Drop/Add fee applies to all courses dropped after the dates indicated on the current Fee Schedule. Courses will be deleted from students’ schedule if they qualify to receive a 100% refund. The rebate is processed effective from the date the Registrar’s Office receives the written notice of withdrawal. No refund will be issued for Intensive courses after the cut-off date that is published on the Registration Form.

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Financial Aid Programs

Short-Term Interest-Free Loans

Master’s has a limited amount of short-term interest free loans to assist students who experience financial difficulties. Students experiencing financial difficulty can apply for a Student Assistance Loan at the Finance Office. The student must meet certain criteria to be eligible for such a loan. These criteria will include several items such as:

• A satisfactory reason for requesting the loan.
• An ability to repay the loan within a reasonable length of time.
• Post-dated cheques, credit card authorization (subject to a surcharge), or other method of payment will be required to meet the loan repayment schedule as set out by the Finance Office.
• The student must have a good payment record with Master’s.
  In most cases the loan, if approved, will be applied directly to the student’s account.
• Master’s retains the right to refuse any application for a Student Assistance Loan.

Students who are in default of their loan repayment schedule will be subject to service charges and to the rules applying to Students’ Outstanding Accounts as indicated in the current Fee Schedule.

The funds used for Student Assistance Loans are available for present and future students. It is imperative that funds borrowed by current students be repaid so that future students can benefit from the same funds.

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Scholarships and Bursaries

A limited number of bursaries and scholarships are provided to students by the Awards Committee. The Awards Committee oversees the selection of eligible students for the following list of special awards and bursaries that are given each year at either a special awards assembly or at the graduation ceremony.

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Provincial/Canadian Student Loan Programs

Students at Master’s are eligible to apply for financial assistance from the Canadian and Provincial Student Loan programs. Students from Ontario enrolled in the Diploma or Degree programs offered at Master’s may be eligible, if qualified, for assistance under one or more of the following components of the Ontario Student Assistance Program (OSAP): Canada Student Loans Program and/or Ontario Student Loans Plan (OSL). Students from other provinces may also be eligible, if qualified, for assistance under their provincial student assistance program. Additional inquires regarding student loans/grants should be directed to our Financial Aid Office or to the provincial Student Loans Offices listed below.

Although Master’s does not advocate that a student go into debt, if there is any possibility that a loan will be needed, early application (when applications become available) is encouraged to ensure a shorter processing time.

In spite of this access to funds, students are cautioned to borrow as little as possible, keeping in mind that the loans must be repaid at a time when there may be heavy financial obligations.

Things you need to know if you are
considering a student loan:

• Contact Donna Haug in the Financial Aid office to let her know you are thinking of applying or have applied for a student loan.
• Mail ALL loan related paper work to Master's, not to OSAP (Ontario students only)
• Faxes are not usually acceptable for sending loan related paper work. Please call ahead or snail mail it.
• Thinking of Applying for a Loan? Things you need to know 2013-14
• Repaying Your Student Loan 2013-2014

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