Fees & Financial Matters

Undergraduate Students

• If you have any general inquiries regarding finances, please contact Ben Cochrane in the Finance Office. For specific questions regarding Student Loans, you can contact Heather Boudreau.
  
• The following fees and charges are provided as an estimate of the cost associated with attending full-time studies at Master’s College and Seminary for one year. These charges should only be used as a guide.
  
• Sample Fees (Based on 2007-2008 Fee Schedule) for a full-time student:
• Tuition, including compulsory fees: $3100 – $3700 per semester
• Distance Education fees: $250 - $315 per semester
• Books: approximately $75.00 - $100 per course
• Fees can be paid by cash, cheque, money order, direct debit, Visa or MasterCard.
• See Master’s Payment Plan for information on your payment options.

2007-2008 Fee Schedule

Tuition Refund Policy

Financial Aid Programs

• Short-Term Interest-Free Loans
• Scholarship and Bursaries
• Provincial/Canada Student Loan Programs

Tuition Refund Policy

Tuition refunds are provided to students, according to the dates on the current Fee Schedule, providing a Drop/Add Form is submitted to the Registrar’s Office. A $25.00 Drop/Add fee applies to all courses dropped after the dates indicated on the current Fee Schedule. Courses will be deleted from students’ schedule if they qualify to receive a 100% refund. The rebate is processed effective from the date the Registrar’s Office receives the written notice of withdrawal. No refund will be issued for Intensive courses after the cut-off date that is published on the Registration Form.

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Financial Aid Programs

• Master’s has a limited amount of short-term interest free loans to assist students who experience financial difficulties. Contact the Finance Office for additional information.
• A limited number of bursaries and scholarships are also provided to students by the Awards Committee.
• Students at Master’s are also eligible to apply for financial assistance from the Canada Student Loan program and their respective provincial student loan program.

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Short-Term Interest-Free Loans

A student experiencing financial difficulty can apply for a Student Assistance Loan at the Finance Office. The student must meet certain criteria to be eligible for such a loan. These criteria will include several items such as:

• A satisfactory reason for requesting the loan.
• An ability to repay the loan within a reasonable length of time.
• Post-dated cheques, credit card authorization (subject to a surcharge), or other method of payment will be required to meet the loan repayment schedule as set out by the Finance Office.
• The student must have a good payment record with Master’s.
  In most cases the loan, if approved, will be applied directly to the student’s account.
• Master’s retains the right to refuse any application for a Student Assistance Loan.

Students who are in default of their loan repayment schedule will be subject to service charges and to the rules applying to Students’ Outstanding Accounts as indicated in the current Fee Schedule.

The funds used for Student Assistance Loans are available for present and future students. It is imperative that funds borrowed by current students be repaid so that future students can benefit from the same funds.

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Scholarships and Bursaries

The Awards Committee oversees the selection of eligible students for the following list of special awards and bursaries that are given each year at either a special awards assembly or at the graduation ceremony.

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Provincial/Canada Student Loan Programs

Students from Ontario enrolled in any of the programs offered at Master’s may be eligible, if qualified, for assistance under one or more of the following components of the Ontario Student Assistance Program (OSAP): Canada Student Loans Program and/or Ontario Student Loans Plan (OSL). Students from other provinces may also be eligible, if qualified, for assistance under their provincial student assistance program. Additional inquires regarding student loans/grants should be directed to our Financial Aid Office or to the provincial Student Loans Offices listed below.

Although Master’s does not advocate that a student go into debt, if there is any possibility that a loan will be needed, early application (when the new loan forms become available each year--usually in May) is encouraged to ensure a shorter processing time.

In spite of this access to funds, students are cautioned to borrow as little as possible, keeping in mind that the loans must be repaid at a time when there may be heavy financial obligations.

Canada Student Loans Program

For information on Federal Student Loans and Grant Programs, visit Human Resources Development Canada's website.