yconic - Debt, Discussion Topic
A photo of Debt

Debt

Explore yconic
Explore Student Life Topics
My Money Matches
1092
Matches
Followers (195)
  • Angela Yao
  • NS Voice
  • Chuma M
  • Rachael Rowe
  • Rebecca Todd
  • Sand IY
  • Christelle Bernabe
  • Joshua Marchesini
  • Fairuz Shahriar
  • Paul Branscombe
  • Rikki Romana
  • Liz Morris
Scotiabank
STUDENT CHAMPION
yconic proudly recognizes Student Champion Partners who are providing our community with superior support for their student journeys. Learn More
Student Help Brands
is it worth the extra money?
I am going to pay for university on my own with little to no help from my parents, which means a lot of loans. Is it worth taking out huge loans to attend Queens Commerce or Ivey where the tuition is nearly as much as tuition + living expenses at Laurier, McMaster and other second tier schools? is it worth having to spend most of my early adulthood paying off huge amounts of debt?
A photo of Anonymous Anonymous
Anyone in Ryerson's RTA or Journalism program?
For anyone who is in Ryerson's RTA or Journalism program!

A) How are you liking it?
B) Was it hard to get in (What was your average and how long did it take?)
C) How is the workload like assignments and projects?
D) What is your game plan afterwards?

Thanks!
A photo of Anonymous Anonymous
IB Marks for Entrance Scholarships UBC
I'm in IB 11 approaching end of term 1 marks, I'm currently getting around a 93% avg. From what I've heard, to get a full ride via UBC Centennial Scholars Entrance Award I would need a 97% avg. Does anyone know if I push my mark up to 94 or 95% avg it could be weighted as a 97% because it is IB? Our school doesn't scale very much except in math and sometimes bio so I'm kinda screwed and I have no money and I'm pretty stressed.
Are you planning financially for post-secondary?
For current high school students, what are YOU doing right now to plan financially for university? 

-Are you relying on parents to pay for everything?
-Financial aid (OSAP, bank loans)?
-Scholarships?
-Part-time jobs?

Share your thoughts below! 
#Askyconic - What to Expect from University or College
Should you live at home or rez? Is attending Frosh worth it? Is it hard to make friends in uni? When am I expected to pay for tuition? how do manage my loan?

First year is a challenge, but you are up to the task! With a little help from our student hosts...

Follow us and join us on Facebook LIVE for a very special edition of #Askyconic on Wednesday August 2nd at 6 pm EST. as our student hosts answer all your questions about starting post-sec.

No question is too hard or stupid. Leave 'em all in the comments below! Don't forget to come back to this thread after the show, as we will be posting the resources we shared. 

PS. Be nice! Inappropriate comments will not be tolerated.
Helpful University Majors?
Hey, I'm in Grade 12 and well it's time to start applying for universities and think about what degree I should get. So, I'm wondering what courses are you taking and for what job? I know personal interest is definitely a factor, but I also want to take something useful. So, for example, I have aspirations of becoming a doctor, but if I unable to get to that level I don't want to be stuck with a degree that I cannot use anywhere else. Any advice?
uni applications
references for top business schools such as Ivey queens Laurier bba and ryerson. when they ask for references does it have to all be teachers or can they be like your supervisors from your part time jobs and stuff?
A photo of Anonymous Anonymous
Financial Aid: How are you paying for school?
Hey everyone! I am one of your yconic Student Ambassadors for this school year. Today I will be discussing financial aid and sharing my thoughts on how you can pay for school.

Before you even apply to university, you have to pay fees to get your applications processed. In some cases, you might even have to pay more to complete supplementary applications (Check out my post last week about university applications: http://bit.ly/2jKJt6m). Unfortunately, this is only the beginning. 

I am currently in my third week of university and have spent A LOT of money. Textbooks alone can cost you hundreds of dollars. Thankfully, there are many ways for you to finance your education. 


1. OSAP (Ontario Student Assistance Program) 

OSAP is a financial aid program set up by the government to assist families and students to fund their education. You get grants and loans from OSAP and the amount depends on your family's income. That said, you might qualify for FREE tuition. 

When you're applying for OSAP, hand in your required documents ASAP to ensure that your OSAP money comes on time to pay your tuition and buy your course materials. 

Check out this page to get more information and to calculate roughly how much you can get from OSAP: https://www.ontario.ca/page/osap-ontario-student-assistance-program 

2. RESP (Registered Education Savings Plan) 

An RESP is like a savings account for your parents to contribute to for your post-secondary education. In addition to the amount your parents contribute, the government adds to it as well. 

3. Bank Loan 

Getting a bank loan is another option to help you pay for school, especially if you'll be studying as an international student abroad. It is important to note that the interest rate might be higher than OSAP and varies from bank to bank. 

4. Part-Time/Summer Job 

Working part-time or having a summer job is a great way to save and pay for school. It definitely helps reduce the amount you have to borrow to pay your tuition fees and course materials. An added bonus is that instead of asking your family for money, you have your own to spend for textbooks and of course, food! 

5. Scholarships and Bursaries 

Free money is awesome! Bursaries are offered to students who demonstrate financial need. Just like OSAP, it takes your family income into consideration. A lot of post-secondary institutions have a financial aid section on their websites, which gives students information on how to apply for them. 

In addition, you can get an entrance scholarship, which is based on your Top 6 for Grade 12. They might range from $500 to $4000 though it depends on the post-secondary institution. This is one of the reasons why it is important to maintain your grades after getting accepted into your program of interest. 

There are many scholarships available here on yconic, so if you're reading this, I would highly recommend that you start applying to them. Last year, one thing that I found surprising was the fact that many scholarships go unclaimed due to people not applying for them. Writing essays might seem unappealing and a lot of work now, but your future self will be thanking you later for doing so. 


Let me know in the comments how you plan to or are currently paying for school. If you have any questions, please check out my AMA as well: http://bit.ly/2fknIsA 

Hope to hear from you soon! 

Alyssa Vidal 
yconic Student Ambassador
Interested in applying to an Ivy League School?
It's that time of year again. Grade 12 is in full swing and students across Canada are planning to apply to their school of choice. For many, their goal is to study in Canada but for others, they have their sights set on an Ivy League School. But what does it take to make it to one? How early should you be preparing? What are some possible considerations that I should look into before investing time and money into applying? 

I talked to some of my friends who actually applied to some and here are their answers to some common questions. 

1. How early should students be prepared if they are considering Ivy League schools? 

The majority of Ivy League schools take the entirety of your high school experience into account when they make admissions decisions. This means that, beyond keeping your grades up, it is important to be involved in activities that you are passionate about from the very beginning of high school. For many of my friends who applied, they were actively involved in DECA, debate and varsity sports. So if you are considering going down this path, starting as early as grade 9 is crucial. 

2. What are the steps to applying? 

First, you need to take either the SAT or the ACT, depending on which you feel more comfortable writing. There are differences between the tests that can be found in detail online. Some students do poorly on the SAT but score extremely well on the ACT, and vice versa; this just means that it's important to find your niche and go from there. During the application process, you will need to write essays based on questions or prompts and I would advise you to get your teachers/guidance counselors to check it over for you before you submit it. In addition, you should also have contacted some references that are willing to write a letter of recommendation. When I applied, I had a variety or references ranging from teachers to coaches to church pastors. 

3. Realistically, what are some other considerations students should consider before applying to Ivy League schools (e.g. finances, etc)?

It's important to consider where you want your life to go before you apply to Ivy League schools. There are great programs at home in Canada and abroad that can offer realistic career success and satisfaction in the future without the associated financial costs of attending an Ivy school. For many Canadians, we need to pay international tuition and live in a potentially expensive city. However, there are scholarships for international students but the amount and quota differ from school to school. Weigh the costs and benefits before applying; there's no point in putting yourself through the American application process if your goals can be achieved in a less expensive, more local way. 

Are you considering applying to an Ivy League School or have any more questions? Comment below and I'll relay them to my friends who have been through the process! 

Benson Law 
-yconic Student Ambassador
Voluntary Donation Fee
Are there any negative ramifications in opting out of a voluntary donation fee to my faculty? I am trying to keep my costs down, and the extra money could be used to buy textbooks and other school materials that are necessary to my success in school. I would pay the fee if I had the money, but I am not in that position. So, I was wondering if opting out of this fee would mean I can't join clubs, or participate in other activities at the school (even though it is voluntary)?
A photo of Anonymous Anonymous
Having a job while studying architecture???
I'm planning on studying architectural science at Ryerson next year, although I haven't yet heard back, and I am wondering if current students in the program or other arch programs have time to work. The program is a lot and I would be moving across the country to go there, so I'm trying to find as many ways to save and earn money while at school.

Also what is the best way to deal with student loans and debt??
A photo of Anonymous Anonymous
Scholarships on Yconic
Hey, so I just have a few questions regarding scholarships on here. This may seem dumb, but is this legit? How will money be sent to me? I just want some inside scoop on what's going on here thanks!
A photo of Anonymous Anonymous
Should I go to Trent or Carleton?
I want to live in Ottawa, but it would cost more because its too far to live with my parents. I chose  to apply Carleton mostly because of the environment. I fell I would be happy in Ottawa despite the anxiety of living independently. It's for undergrad psychology. Neither schools are known for their psychology programs, but apparently it doesn't matter much where you get your undergrad. Trent is ranked the number one undergrad though. I'm tied between being stuck in Durham with my parents, who I argue with constantly, or living on my own and having more debt and lack of preparation for independent living. If money wasn't a factor, I would have accepted Carleton already. I'm planning on having no roommates, nothing too expensive either.
A photo of Anonymous Anonymous
A tuition-free Ontario: Would it be good or bad?
Tuition is super pricy (obviously!) Could you imagine a tuition free Ontario? There are definitely some pros and cons to it - would quality of education, and the reputation of schools deplete if there were no tuition? What do you think?

Recently OSAP (the Ontario Student Assistance Program) revamped themselves that will allow low- to middle-income students to attend school for free by providing them with grants to cover their tuition.

I am sure that you have heard the “free tuition” announcement circulating somewhere.This is the major change to the old OSAP form. 

Here is how the free tuition will work: 

Some students who are part of a low- to middle- income family can be eligible for free tuition if: 

The student's parents make $50,000 collectively or less per year 

The student will be attending school full-time The student is attending a public post-secondary institution 

The student meets the eligibility requirements for the OSAP program 

Now this is not anything like Newfoundland's elimination of student loans—Ontario is still handing out loans to students, however, some students will luck out with grants only if their parents are in the right pay brackets.

 Back in August of 2015, Newfoundland announced that they were eliminating student loans, and replacing them with non-repayable grants. Newfoundland and Labrador is the first province to completely eliminate its student loan system.

How do you feel about the New OSAP. Is it evolving the education system in Canada for the good or bad? 

Personally, I can see the benefits. I'm from a middle income family, and would have loved the help without the debt attached, however, I also see the negative of people squandering away government money for a chance to "try' post-secondary school, while those who may be very serious about taking courses but are just over the cut-off are struggling to stay in school.

What do you think?
How practical is it for an undergrad to live in Ottawa?
Any university students live in Ottawa? I'm wondering about how much it would cost for me to live alone for the school year, including residence, food, and other living expenses. I don't need a big place to stay, I just need my own room. I could share a bathroom and washing machine. I don't need a big or high quality place. I need wifi and to be near commute. I am planning on getting a part time job there and going to Carleton. 

If not alone, anyone have an idea of how practical/expensive it would be to live with others, still having my own room  and above requirements?

Reference websites would be great as well.


A photo of Anonymous Anonymous
What’s the easiest student part-time job to have?

Let’s face it, tuition can get quite pricey. Apart from assistance from parents and using programs such as OSAP or StudentAid BC, many students work part-time.


So what are some of the best part-time jobs to have?


1. On-Campus Customer Service Jobs

Working at an on-campus restaurant or in the library is convenient because you can go from class to work in a matter of minutes. These employers are also tend to be more flexible around exam times, which is a huge plus.


Places to check for these jobs:

-Your student union’s website

-Your university’s internal student job board (e.g. CareerZone at Brock University)

-Your university’s main HR website.


2. Being a Teaching Assistant/Tutorial Leader

Apart from the on-campus convenience and exam-time flexibility mentioned above, the added benefit of being a TA is that the pay is well above-average. I was a Tutorial Leader for a first-year Economics class for 3 years; the added benefit for me was that I became confident in speaking in front of large groups of people.


Place to check for these jobs:

-Your university’s main HR website.


3. Being an Entrepreneur

If you prefer working for yourself, having the maximum amount of flexibility and potentially earning a lot, you may want to consider entrepreneurship. Many universities now have business incubators, which integrate university resources and community expertise to help student-driven start-ups.


Places to get resources:

-Your university’s business incubator (e.g. BioLinc at Brock University)


Are there any other good part-time jobs that I missed? Comment below!

Schulich Scholarship Admission Requirements
Do they look at whether you took summer school or not? If so, will if affect my chances of getting the scholarship (to fast track not to repeat)?
A photo of Anonymous Anonymous
Is residence in first year worth the debt?
Title says it all. I'm a huge extrovert so I fear that living at home will negatively impact my experience. I know it sounds immature, but I really do want to have a good time during my undergrad before I dive into the workforce for the next 40 so years. I just don't want to hate myself for it when I'm trying to buy my first house.

If I do end up living on campus for my first year, I will graduate 16K in debt. According to my parents that's "not a huge deal" but I've read so many horror stories about people who are drowning in debt... 
A photo of Anonymous Anonymous
Waterloo Management Engineering
Im debating on doing management engineering at waterloo or Computer science at Laurier. I have a bunch of questions for current students or alumni
 what are the courses like? how hard are the courses? Is it hard to maintain 75 average to qualify for coop?
 what is an example of first year tuition (estimated amount you paid or are paying including res) how can I minimize costs for uni?

 ***What is coop like? how much are the salaries each year? Specifically in this degree , can you pay off tuition with just working during coop terms? With the degree is it possible to get hired in Cali? (most important question) All in all, is management engineering at waterloo worth the big cost?
A photo of Anonymous Anonymous
Should you live on campus in 1st year university?
For some students, living at home is not an option. Their university of choice is out of province, the program of choice is not available in their local university, etc. The question is then: to live on campus, or to live off campus while completing your education?

Pros of living on campus
- You'll become immersed in your community and make life long friends.
-It's a risk-free form of independence
-You'll be able to walk everywhere
-Fees are all inclusive, so you don't have to worry about budgeting for rent and food

Con's of living on campus
.-You get what you pay for...even if you don't need it
-Mandatory meal plans
-Sharing a crowded bathroom might not be your idea of a good time

Have you lived on campus? tell us what you found amazing and what sucked in the comments below!


Calling all yconic members!
We know it’s hard to think about but it’s almost that time of year again. Tell us your top 3 “Must Haves” for back to school and you could be featured in yconic's newest article.

Example:              1. My trusty Herschel backpack
                               2. Red TOMS shoes
                               3. My lucky pen
                              ~Jon, first year Queen’s student in Economics

Reply to this thread now for your chance to be featured!
Laurier Computer Science
Hello my friends! Im looking into going to Laurier for computer science (just the Bsc degree not the dual) and had a bunch of questions I wanted to ask current CS students or alumni!! Ive noticed theres a lot of information on the DD but not just computer science! Thank you so much my friends :D 

 - what are the courses like
 - how hard is the math (workload, content) 
 - how is coop? where can you get hired?
 - when is the work schedule is it competitive? how can I make myself stand out 
 - what is an example of first year tuition (estimated amount you paid or are paying)? 
 - how can I minimize costs for uni? Ill have to live on res so the costs for that will add up and I want to spend as little as possible 
 - are there scholarships you guys know of that I can apply to?
A photo of Anonymous Anonymous
When should you start applying for scholarships for first year of university?
Post-secondary education is expensive- I feel like that’s the obvious, and I don’t have to tell you that! The best way to help fund your education is scholarships and bursaries. When you’re in Grade 12, usually by January, there are a bunch of scholarships that come available with deadlines that range from as soon as February or March, to November or December for the new school year.

When Should You Look:
It definitely wouldn’t hurt to start scrolling around yconic to see what’s posted for the upcoming school year. I usually start looking around January of every year and make a list of all the deadlines and opportunities I’m eligible. During this time, I plan out how I’ll write up my application or structure how I’ll complete the components of the application (these applications could be anything from a small essay to a video submission- you’ll want to give your submission flavor to stand out!)

When Should You Apply:
Of course, as a requirement, most scholarships will list their eligibility as “must be a full-time student enrolled in th 2017-2018 school year.” This means that there is a high possibility that you may need to submit proof that you’ll be attending school. Because of this, I’d hold off actually applying for scholarships if you need to verify you’re in school until you are 100% sure of which school you’ll be at, and which offer you’ve accepted. When you know, APPLY APPLY APPLY!

Have you started applying for scholarships and bursaries? When did you start applying? If not, when will you apply?