The Impact of Financial-Based Awards
Using actual data, let’s look at a third-year Smith Commerce student from Ontario who received a mix of Queen’s/Smith Needs-Based Awards as well as Government support.
This data exhibits two things:
- Students often receive multiple avenues of support to make their dream of being in the Commerce program a reality
- Demonstrates the power of aggregated funding and the difference it can make to a student’s journey through the Commerce program
First
Year
| AWARD | AMOUNT |
|---|---|
| Merit Based | |
| Principal's Scholarship | $6,000 |
| Needs-Based | |
| BCom’88 Honorary Award – Renewable Award | $2,500/year (of $10,000) |
| BCom’92 Entrance Award | $3,900 |
| Pfizer Warner-Lambert Student Technology Bursary | $750 |
| Queen's Admissions Bursary | $535 |
| OSAP (loan) | $8,963^ |
| OSAP (grant) | $3,512 |
| TOTAL | $26,160 |
The student received $26,160, which is ~77% of the cost to attend the Commerce program
^ Repayable to OSAP
Second
Year
| AWARD | AMOUNT |
|---|---|
| Merit Based | |
| D.I. McLeod Dean’s List Scholarship | $75 |
| Needs-Based | |
| BCom’88 Honorary Award – Renewable Award | $2,500/year (of $10,000) |
| PwC Diversity and Inclusion Bursary | $1,500 |
| Queen's General and Visible Minority/Racialized Student Bursaries | $440 |
| OSAP (loan) | $10,312^ |
| OSAP (grant) | $5,183 |
| TOTAL | $20,010 |
The student received $20,010, which is ~59% of the cost to attend the Commerce program
^ Repayable to OSAP
Third
Year
| AWARD | AMOUNT |
|---|---|
| Merit Based | |
| D.I. McLeod Dean’s List Scholarship | $75 |
| Needs-Based | |
| BCom’88 Honorary Award – Renewable Award | $2,500/year (of $10,000) |
| OSAP (loan) | $7,140^ |
| OSAP (grant) | $3,143 |
| Edgar J. Benson/Dr. Clifford A. Curtis Bursary | $2,315 |
| TOTAL | $15,098 |
^ Repayable to OSAP. Gap in funding made up by student working part-time and savings from summer full-time position.
Three Year Financial Support Snapshot
$46,816
Student Paid
43%
$34,853
Financial Based Awards
33%
$26,415
Repayable (OSAP)
24%
Breaking Down the Total Cost
of the Commerce Program
$34,028/year
$16,288 Domestic student fees. $14,315 residence and meal plan. $2,175 texbooks and supplies. $1,250 student fees
