July 29, 2016
SGS have distributed a grad funding/payroll 2016/2017 information package to help you understand the charges, funding & payment regime this year, how to set up your bank account, the payment schedule and lots of other information. It’s very comprehensive and highly recommended reading, even for returning students!
It can be found at the following link:
“I am writing to introduce you to the new and much simpler model for graduate support payments that will be in place beginning this September.
The model has these features:
– Tuition is due term-by-term on Sep 1, Jan 1, and May 1.
– Interest on tuition will not begin to be collected prior to the second to last business day of those months.
– Lump sum (whole-term) scholarship payment by mid-Sep, mid-Jan, and mid-May.
– Lump sum (whole-term) “research scholarship” (i.e. grant-sourced support) payment by mid-Sep, mid-Jan, and mid-May.
– Bi-weekly employment payments, as before.
– All money goes out to the student’s bank account (as opposed to first being applied to the student account).
– Students are *solely* responsible for paying their tuition.
– Emergency advances are still possible in extreme situations (against future TA income).
Example for Fall 2016 (which assumes that a student has TA, research scholarship, and
Sep 1 – Tuition for term is due
mid-Sep – Bank deposit of all “research scholarship” (i.e. grant-sourced support) payment for term
– Bank deposit for first two weeks of TA pay
– Bank deposit of all scholarship/bursary support for the term
Sep 28 – Interest begins to accrue on balance outstanding in student account.
Sep 30 – Bank deposit of second two weeks of TA pay
The benefits of this model are many, including:
– Easy to understand and check
– Easy to configure and alter
– A far less complex set of interactions on student account
The front-loading of research scholarship and scholarship money means that cash-flow issues are essentially eliminated.
The most significant change from a returning graduate student perspective is that, unlike in previous years, they alone will be responsible for arranging payment of tuition during the first month of each term.
In addition to the above changes, each grad student and their grad admin will receive an e-mail in early September outlining the dates on which pay will be received for the academic year and the gross amount in each form of support. Such schedules will ensure that everyone understands the profile of their pays for the coming academic year.
Doug Welch, Dean of Graduate Studies”
Please contact us at email@example.com if you have any questions about these new changes. Also feel free to contact us if you are worried about your account balance for this year and how this may effect your enrollment next week. Reminder ON-TIME Enrollment starts on July 26th and you cannot enroll if you owe tuition for a previous year.
This information will be available on the graduate studies website next week under the title “Understanding Your Funding”. We will update this post to link to it, then.