Financial Aid
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 enter on the strength of their performance at entrance examinations as well as past academic experience.
As part of that commitment, in 2011-12, UTS is providing financial assistance to approximately 20% of its students with an average award of just over $7200. This is one of the largest bursary programs among independent schools in Canada. However, even that generous disbursement is not enough to meet the needs of all of our students. While accessibility is part of the school's mission, in reality the bursary funds available yearly cover approximately 60% of the need.
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?
How do I get an application?
Background on UTS bursary assistance program:
The UTS admissions policy – which emphasises 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?
Bursary assistance is made available only to those candidates offered admission. A family applying for bursary assistance must be in receipt of a letter of acceptance notifying the family that their child has been admitted to UTS or must have a child already enrolled in the school.
Beginning October 7, 2011, 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 and account and complete the application.
Families will be required to provide full financial disclosure, including a Revenue Canada Notice of Assessment. Incomplete documentation may result in withdrawal of assistance.
Deadlines
- Current families must apply by November 1, 2011
- New families must apply by March 2, 2012
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 (ie. 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?
The funds used to support bursary assistance rely on the return generated from the investments of endowed bursary funds each year. Therefore, the amount of funds available in any given year will vary. In recent years, UTS has been able to meet approximately 70% of the recommended disbursement for bursary assistance suggested by Apple Financial Services. In 2003, UTS awarded just under $550,000 in bursaries to 99 students. For 2011, the school distributed approximately $945,000 in bursary funds to 130 families.
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?
Aid does not automatically continue until graduation since the financial situation of a family might change over the years. If the family's financial circumstances improve, the level of bursary assistance extended may decrease or may be withdrawn altogether. Alternatively, if the family's financial circumstances decline, the level of bursary award may increase.
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 derived from the annual return generated from the investments of the endowed bursary funds.
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 Director of Finance and Facilities. 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?
Although students must be accepted to the school in order to be eligible for financial assistance, families may want to complete the FACS application in advance to determine the potential amount of assistance recommended.
At the application stage, families must provide full financial disclosure. Failure to fully disclose financial records may result in withdrawal of 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.
What are the deadlines?
In order for an application to be considered, all documentation must reach Apple Financial by November 1 (for current families) and early March (for new families). Specific dates may vary from year to year.
Are there alternate avenues of financial assistance available to families?
New (Foundation 1) families may be eligible for additional tuition assistance through the foundation Children First: School Choice Trust. Information is available at: www.childrenfirstgrants.ca
We hope you find this information helpful. If you have additional queries regarding our Bursary Assistance Program, please feel free to email us atplease: info@utschools.ca
How do I get an application?
Packages for the 2011-2012 are now available at the links below.
Financial Aid deadlines are yet to be determined. They will be posted here by late October.
