Planning

Financial planning is important to ensuring success at university and beyond. With the exception of tuition costs, which are paid directly to OCAD University, exact costs will vary according to your circumstances, choice of courses, and lifestyle. Financial need is determined by comparing estimated costs to estimated resources. 

 

Staff in OCAD U's Financial Aid office can advise students with respect to their financial situation, provide referrals to the appropriate financial assistance programs, and assist them with securing the resources required to meet their post-secondary education costs. 

The Financial Aid office and the National Student Loans Service Centre host information sessions throughout the year on various financial assistance-related topics, and upcoming sessions are announced through social media.

Whether you're a new or returning OCAD U student, financial planning is an important step in ensuring your success at university, and the Financial Aid office is here to help. Your education costs can be met by a variety of sources, including OSAP, bursaries, scholarships, awards, and on-campus work opportunities. This checklist should help guide you through your financial planning:

1.

Estimate your expenses, including your tuition and fees.

2.

Consider your financial resources, such as summer income, money from your parents or loans.

3.

Develop good budgeting strategies. Keep track of your budget on a monthly or weekly basis once you start school. This will help keep you organized and avoid a crisis. The majority of your funds will likely come at the beginning of each semester when student loans are deposited into your bank account, so you will need to budget accordingly. A school-year budget will help you manage your funds and spending so that you don’t unexpectedly come up short midway through the semester or year. Download our fillable budget sheet (PDF).

4.

Apply for full-time or part-time OSAP or other funding programs. To ensure your funding is available in September, apply for OSAP by July 31. 

5.

Apply for bursaries. Bursaries are non-repayable grants given on the basis of financial need. Deadlines and application processes vary.

6.
Apply for scholarships and awards, given on the basis of grades. In addition to any entrance scholarships you may qualify for, you’re automatically considered for any available scholarships in your program at the end of each academic year. If you're in your final year of study, you can apply for fourth awards, which are given by a juried competition in May of your final year. The awards available and application deadline are posted in February of each year. 
7.
If you've applied to OSAP or out-of-province loans, check your application status online regularly to ensure everything is in order. When your funding is available, it will pay your tuition first. The remainder is then deposited into your bank account.
8.
Pay your tuition fees on time to avoid interest. See dates and deadlines. More information about tuition, fees and refunds can be found on the tuition and fees page.
9.
Apply for student jobs through OCAD U's work study plan. Most opportunities are posted in August and are filled quickly. 
10.

Opt into or out of Studentcare, OCAD U's health and dental plan for students. More details are available on our health and dental plan page.

 

If you are an Indigenous student, you can also refer to the financial checklist for Indigenous students.

Do what you love booklet

We created the Do What You Love booklet (PDF) to help artists and designers with financial planning. In this interactive booklet, we cover subjects like budgeting and setting goals, and provide other helpful resources to help you manage your finances. 

Learn more