Financial Assistance

Deadlines

  • Current families must apply by  October 23, 2015 
  • Applicants to grade 7 (F1) must apply by January 4, 2016 
  • Applicants to grade 9, 10 or 11 (M3, M4 or S5) must apply by January 11, 2016
  • The application is available online through Apple Financial Services. 

     

UTS is committed to attracting the best and brightest students, regardless of financial means, and a family’s ability to meet school tuition is not factored into the admission process. Consequently, the school maintains a strict merit-based admissions policy and students admitted to UTS are offered admission on the strength of their performance at entrance examinations as well as past academic experience. 

As part of that commitment, UTS has provided financial assistance to approximately 15-20% of its students in the past 5 years with average bursaries of approximately $7000-10,500. This is one of the largest bursary programs among independent schools in Canada. We expect the bursary allocation for 2016-17 to exceed $1.2 million, including full and partial bursaries. 

Please contact the admissions office if you have questions about the bursary program. 

 

Bursary Policy

University of Toronto Schools: 

• is committed to accessibility for all students who are admitted to UTS
• recognizes the financial constraints upon those who qualify
• will allocate available funds using a process that is consistent, equitable and strives to match available funds to need as closely as practical each year
• will aim to increase available bursary funds commensurate with the increase in tuition
• will draw bursary funds from the UTS Foundation and the “Top Up” funds raised through Annual Giving
• utilizes the services of Apple Financial Services to provide analysis and recommend financial assistance. The UTS Bursary Committee places significant reliance on the recommendations made by Apple Financial. However, the Committee makes all decisions about the actual amounts of assistance offered.
• requests each family offer to pay as large a portion of tuition as they are genuinely able to do
• will grant bursaries ranging from 5% of tuition fee to full bursary support, which would include the enrolment fee for new students
• Applications for financial assistance are reviewed and evaluated independently from admission applications
• Assessment of financial need is based on three categories of criteria

(i) Primary criteria, includes income and net worth

(ii) Secondary criteria, includes number of children, childcare costs, other UTS students and dependants

(iii) Tertiary criteria, includes vacation, camps, lessons, sports/arts (recognize international competitors as a special category), transport to school, age and type of work performed by  parents, and discretionary spending

 will provide a supplementary bursary, proportional to the bursary support received, to support students’ full participation for approved co-curricular events

 

    Measures of successful allocation

    • At least 20% of UTS students are on bursary support
    • Average bursary size to be at least 35% of tuition fee
    • Returning bursary students receive at least the same bursary support compared to the prior year, given similar financial situation
    • Socio-economic diversity is supported through this program

     

    Eligibility Guidelines and Conditions

    • UTS requires that all published deadlines be met by the bursary applicant
    • Applicants must submit the required documentation from both parents unless they are deceased
    • Applications to be complete with all supporting documentation attached
    • An accurate assessment relies on the integrity, completeness and truthfulness of the applicant’s submission
    • UTS reserves the right to withhold bursary support for a student and a family who does not adhere to the school’s Policy for Mutual Respect or the school’s Code of Conduct. 

     

    Financial Assistance at a Glance 

    Background on UTS bursary assistance program
    How does a family apply for bursary assistance?
    How does the school assess the merits of a family's request for bursary assistance?
    How much does UTS distribute annually in bursary assistance?
    Who makes the decision to grant bursary assistance requests?
    If a student is granted bursary assistance upon entrance, does the aid automatically continue until graduation?
    If the School is in good financial shape, why can't all bursary requests be accommodated?
    Can a family appeal an awards assessment?
    What conditions are attached to bursary assistance?
    Are there alternate avenues of financial assistance available to families?
    What are the deadlines?

     

    Background on UTS bursary assistance program
    The UTS admissions policy – which emphasizes merit-based entry – was set in place when the school was founded in 1910. At that time, UTS was funded through a combination of provincial grants, financial support from the University of Toronto and, to a lesser extent, tuition fees.

    When the provincial government withdrew its funding in 1993, tuition fees nearly doubled within a year and have continued to increase to keep pace with operating costs. Recognizing that the removal of funding from UTS placed the school's mission of financial accessibility in jeopardy, the UTS community rallied behind the cause and raised $15 million to create the Preserving the Opportunity bursary endowment. This endowment has been instrumental in allowing UTS to maintain its commitment to accessibility.

    Our Admissions and Finance offices receive numerous inquiries each year with respect to the decision-making process used to ascertain the need and level of financial support granted to families. Here are answers to some of the most frequently asked questions:


    How does a family apply for Bursary Assistance?
    All families applying for bursary assistance must submit their application online through the Apple Financial Services web site. Please visit http://www.applefinancialservices.ca to set up an account and complete the application.

    Families are required to provide full financial disclosure, including a Canada Revenue Agency Notice of Assessment. Incomplete documentation may result in withdrawal of assistance.

     

    How does the school assess the merits of a family's request for Bursary Assistance?
    UTS partners with Apple Financial Services in the processing of bursary fund requests. In complete confidentiality, the company closely reviews all financial details and provides an analysis of a family’s ability to contribute toward educational expenses. Apple Financial Services then submits its recommendations to UTS for bursary assistance. These recommendations include:

    a) an assessment of a family’s financial merit (in light of both its current financial position and in comparison to the needs of other families);
    b) a recommendation with respect to the amount of financial award.


    How much does UTS distribute annually in Bursary Assistance?
    For the 2015/26 academic year, UTS distributed approximately $1,100,000 in bursary funds to over 100 students. The expected bursary for 2016-17 is $1.2 million. 


    Who makes the decision to grant Bursary Assistance requests?
    The UTS Bursary Committee makes final decisions about the actual amounts of assistance offered. Decisions are based on recommendations provided by Apple Financial's analysis and on available bursary funds.


    If a student is granted Bursary Assistance upon entrance, does the aid automatically continue until graduation?
    All families must apply annually.


    If the School is in good financial shape, why can't all bursary requests be accommodated?
    Funding for school operations and bursaries are derived from two distinctly separate sources:

    • School operations are funded through tuition fees; and
    • Funds for bursary assistance are derived from the annual return generated from the investments of the endowed bursary funds in the UTS Foundation and annual giving.

    UTS is a not-for-profit independent school and runs on a fiscally neutral budget. This means that the school's financial condition is assessed on its ability to meet operating expenses and program requirements. The school reviews its operating budget annually adjusting tuition fees to meet projected expenses while at the same time being mindful of the need to keep tuition increases to a minimum.


    Can a family appeal an awards assessment?
    A family choosing to appeal an awards assessment must provide additional financial information not already submitted to Apple Financial or to UTS. Appeals may be addressed to the Chief Financial Officer. Appeals are reviewed by the Appeals Committee which assesses the merits of the appeal based on the additional financial information provided by the family and the school's ability to meet the request.


    What conditions are attached to Bursary Assistance?
    Students receiving financial assistance must remain in good standing throughout their careers at UTS, attend school regularly and abide by the Code of Conduct as stated in the UTS Student/Parent Handbook as well as the school's Policy of Mutual Respect.


    What are the deadlines?
    In order for an application to be considered, all documentation must reach Apple Financial by the posted deadlines. Please see above for deadlines.

    Are there alternate avenues of financial assistance available to families?
    Not at this time.

    We hope you find this information helpful. If you have additional queries regarding our Bursary Assistance Program, please feel free to email us: info@utschools.ca


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