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FAQs - Exchange Bursary

Who is eligible to receive an exchange bursary?

Exchange bursary assistance is available only to students participating in one of Queen’s University formal exchange programs.

Master of International Business (MIB) students should apply using the Queen’s General bursary application, not the exchange bursary application.

How will I be notified of my exchange bursary decision?
Students will be informed of the bursary decision using their @Queen’s email address at the time they are offered an exchange program by their faculty. Late applications will be assessed within 2-3 weeks.
How is my exchange bursary assessed?
Your exchange bursary application is assessed on the basis of financial need for the full cost of attendance in the fall/winter academic year. If eligible for bursary assistance, the value of the bursary you received will include bursary assistance for your fall term on exchange and  winter term at Queen’s or if you are on a full year exchange it will be for fall and winter term.
What is considered when reviewing my budget for an exchange?
When reviewing your exchange bursary application we take into account the following:
  • Total expenses for the full academic year
    • Tuition and fees for the full academic year
    • Books and supplies for the full academic year
    • Cost of living on exchange
    • Cost of living at Queen’s (if applicable)
    • Flight cost
  • Total student resources for the full academic year
Are there any other specific bursaries that I might be eligible for other than the exchange bursary?
There are some specific exchange bursaries that you will be considered for using the exchange bursary application. There are only some specific bursaries that require additional documentation and that is listed on the exchange bursary application. You should note that if you do not qualify for any of the specific awards your application will automatically be considered for an Exchange Study Bursary.
If I receive an exchange bursary how and when will it be paid?
Exchange bursaries will be credited to your Queen’s student account in August prior to the academic year. The funds will first be used to pay down your Queen’s tuition.
What if I need some of the exchange bursary sooner than August to pay for travel and misc. costs associated with the exchange?
It is expected that students must make the decision to take part in the exchange program knowing they will incur additional expenses to do so. Therefore, students should have additional resources available to them in order to pay for upfront costs such as flight, deposits, etc.
I have not applied for government student financial assistance (ie OSAP). Will I be eligible for an exchange bursary?

Queen’s bursary assistance is used to help those in the greatest financial difficulty, who have the fewest options to secure funding on their own. Bursary assistance is intended to help supplement, not replace, funds available through Government Loan assistance. As part of the assessment for a Queen’s exchange bursary, there is an emphasis on those students who have and continue to demonstrate need over and above the maximum funding available through government student financial assistance. All domestic (Canadian citizens and permanent residents) will be required to apply for government student financial assistance in order to be considered for an exchange bursary.

In order to qualify for bursary assistance, students must be accessing a minimum of $5,000 in government financial assistance (i.e. OSAP) during the academic year. Students who are not receiving Government Assistance, or have qualified for a small amount of Government Assistance, likely have other options available to them and will not be considered for a Queen’s bursary.

I have not accessed government student financial assistance up until this point but I plan to for my year on exchange. What should I do?

At the time of assessing student exchange bursary applications, which is generally before the academic year a student goes on exchange; students are not yet able to apply for student government assistance. It is difficult to determine the amount of student government assistance students will likely receive, so the current government student loan entitlement is taken into account.

If you do apply for student government assistance for your exchange year, you have options. You can contact us at bursary@queensu.ca once you have your government student loan entitlement for the next academic year (generally in late summer or September) and the Student Awards Office will reassess your exchange bursary application at that time.

Debt is a consideration when assessing graduate and professional students. Why?

It is a requirement for eligibility that graduate/professional students have a minimum amount of accumulated government debt in order to qualify for bursary funding. Due to the limited amount of funds available and the increasing demands for need-based assistance we have had to establish guidelines to ensure that we are directing our funds to the students who have accessed government student loans throughout their undergraduate degree and therefore likely have had less financial resources available to them and have accumulated a high level of repayable debt.

What is repayable debt?

Repayable government debt to Ontario residents is calculated after the Ontario Student Opportunity Grant (OSOG) has been assessed. If you qualify for OSOG the government may make a repayment on your loan debt of up to $4,940 for a single student in a two-term study period. This means that any amount of loan that is above $7,300 will be non-repayable for the academic year (fall/winter).

Here’s what an OSAP entitlement would look like for a student who qualified for maximum the amount of OSAP:

OSAP Loan

$360 x 34 weeks

$12,240

Canada Student Loan $7,140  
Ontario Student Loan $5,100  
Canada Student Grant

 

$1,977

Total Funding

(Combination of loans (provincial and federal) and grants

  $14,217

Ontario Student Opportunity Grant (OSOG)

(calculated at the end of the academic session)

$12,240 - $7,300 $4,940

Once OSOG has been factored, over 48% of the student’s OSAP loan for the academic year is non repayable – almost half of OSAP entitlement is grant.

Repayable $7,300 (51.3%)
Non-Repayable $4,940 + $1,977 $6,917 (48.7%)

You may also need to consider a professional student line of credit to assist you with the costs of attendance. Student line of credit debt is taken into account when calculating a student’s overall debt level. However, a student must still meet the minimum guideline of government student loan repayable debt first.

I have received an exchange bursary. Am I still eligible to apply for a Queen’s General bursary?
Yes. We will accept a general bursary application. However, your exchange bursary amount will be included as a resource. Queen’s assistance is not unlimited and the University has had to establish maximum bursary guidelines for each year/program of study. Therefore, if you have reached the maximum bursary guideline, you may receive little or no additional bursary assistance.