|Home | About Us | Contact Us | Advertising | www.fsu.ca|
|Tuesday, May 21st, 2013|
> Monday, April 10th, 2006 > News > Tips for saving next yearís tuition money on a summer job salary
Tips for saving next yearís tuition money on a summer job salary
Click here to read more Interrobang articles written by Financial Aid
Published: Monday, April 10th, 2006
Working this summer? Here are some tips to help you financially when you return to school.
Apply for OSAP early (before July 1, 2006). Apply online at http://osap.gov.on.ca and save $10.
Are you returning to full-time studies for the 2006/07 academic year? OSAP expects you to be employed full-time during the summer and to save a minimum of $2,000 towards your expenses for the 2006/07 academic year. The more money you can contribute towards your education costs, the less debt you incur in student loans. Youíll have more money to do the things you want when you graduate and find employment.
Canít find enough employment this summer? Keep a record of your search for work so you have the documentation required to initiate an appeal of your OSAP entitlement.
TIPS FOR SAVING MONEY OVER THE SUMMER
Set a saving goal. Once you know how much youíll make in the summer, set aside money and donít spend it on anything else.
Set a summer budget. This will help keep your spending in line. If possible, have your employer automatically deposit your earnings to your savings account. Then withdraw only the money you have budgeted for expenses, and only once a week.
Continue to live the lifestyle of a student. Be frugal. Donít use your summer savings to buy big ticket items.
Credit Cards. Donít use them. Pay down any debt you have incurred.
SUBLET. If you signed a 12 month lease here and youíre going home for the summer, sublet your apartment.
Do not lend your summer savings.
If you are moving, make sure you give your new address information to:
National Student Loans Service Centre, Public Institutions Division
P.O. Box 4030
Mississauga, Ontario L5A 4M4
Tel: 1 888 815 4514
Stay informed. Information on repaying your student loans is available at http://canlearn.ca/nslsc.
Donít forget to book your appointment to pick up your OSAP. Appointment system opens August 21.