FAQs - 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.
- 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
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.
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 firstname.lastname@example.org 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.
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.
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:
$360 x 34 weeks
|Canada Student Loan||$7,140|
|Ontario Student Loan||$5,100|
|Canada Student Grant||
(Combination of loans (provincial and federal) and grants
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.
|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.