{"id":20,"date":"2013-10-30T13:07:45","date_gmt":"2013-10-30T20:07:45","guid":{"rendered":"https:\/\/blogs.ubc.ca\/mymbaprogram2016\/?page_id=20"},"modified":"2022-04-08T14:58:28","modified_gmt":"2022-04-08T21:58:28","slug":"financials","status":"publish","type":"page","link":"https:\/\/blogs.ubc.ca\/2023mmddprogram\/financials\/","title":{"rendered":"Finances"},"content":{"rendered":"<p><a href=\"https:\/\/blogs.ubc.ca\/2023mmddprogram\/files\/2021\/01\/Financial-Information-2.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-7907\" src=\"https:\/\/blogs.ubc.ca\/2023mmddprogram\/files\/2021\/01\/Financial-Information-2.jpg\" alt=\"\" width=\"1228\" height=\"356\" srcset=\"https:\/\/blogs.ubc.ca\/2023mmddprogram\/files\/2021\/01\/Financial-Information-2.jpg 1228w, https:\/\/blogs.ubc.ca\/2023mmddprogram\/files\/2021\/01\/Financial-Information-2-300x87.jpg 300w, https:\/\/blogs.ubc.ca\/2023mmddprogram\/files\/2021\/01\/Financial-Information-2-1024x297.jpg 1024w, https:\/\/blogs.ubc.ca\/2023mmddprogram\/files\/2021\/01\/Financial-Information-2-768x223.jpg 768w, https:\/\/blogs.ubc.ca\/2023mmddprogram\/files\/2021\/01\/Financial-Information-2-624x181.jpg 624w\" sizes=\"auto, (max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px\" \/><\/a><\/p>\n<p>Managing your money is an essential part of student life and incoming students should be prepared to meet the majority of the financial need for the MM program prior to it&#8217;s start.<\/p>\n<div id=\"random-accordion-id-130\" class=\"accordion-shortcode  \">\n<h3 ><a href=\"#financial-questions-who-to-con-0\" >Financial Questions - Who to Contact<\/a><\/h3><div id=\"financial-questions-who-to-con-0\" class=\"accordian-shortcode-content \" ><\/p>\n<p>Enrolment Services Advisors and Associate Enrolment Services Advisors (ES Advisors) will still be your contacts as a graduate student and can assist across all areas of <a href=\"https:\/\/students.ubc.ca\/enrolment\/finances\" target=\"_blank\" rel=\"noopener\">Enrolment Services<\/a>. Some of the most common services are:<\/p>\n<ul>\n<li>Explaining<strong>\u00a0tuition and student fees<\/strong>\u00a0and advising on best methods of payment<\/li>\n<li>Financial assistance planning, specifically on\u00a0<strong>student loans<\/strong>\u00a0and the\u00a0<strong>UBC Bursary<\/strong><\/li>\n<li>Setting up a budget and\u00a0<strong>exploring additional resources<\/strong>\u00a0as needed (private loans, emergency funding).<\/li>\n<li>Workshops with respect to successful\u00a0<strong>budgeting<\/strong><\/li>\n<li>Advising on\u00a0<strong>student records\u00a0<\/strong>and documentation<\/li>\n<li><strong>Referrals<\/strong>\u00a0to other resources on campus<\/li>\n<\/ul>\n<p>Graduate students are welcome to contact any member of the Enrolment Services team. The best ways to get in contact are:<\/p>\n<ul>\n<li><strong>By phone<\/strong> at\u00a0604 822 9836 or toll-free at 1 877 272 1422<\/li>\n<li><strong>By email<\/strong>\u00a0using the\u00a0<a href=\"https:\/\/www.askme.ubc.ca\/form\/index2.php\" target=\"_blank\" rel=\"noopener\">Ask Me form<\/a><\/li>\n<\/ul>\n<p>You can see a breakdown of your tuition and student fees on the\u00a0<a href=\"https:\/\/ssc.adm.ubc.ca\/sscportal\/servlets\/SRVSSCFramework\" target=\"_blank\" rel=\"noopener noreferrer\">Student Service Centre (SSC)<\/a> - once you're logged in just click on the Student tab, then Financial, then SFM Account.<\/p>\n<h4>financial distress<\/h4>\n<p>If you're facing <a href=\"https:\/\/students.ubc.ca\/enrolment\/finances\/funding-studies\/financial-distress\" target=\"_blank\" rel=\"noopener noreferrer\">financial distress<\/a> and\/or have had a significant change to your financial situation, please speak with <a href=\"mailto:rebekah.chotem@sauder.ubc.ca\">Rebekah Chotem<\/a>, Manager, Master of Management or contact an <a href=\"https:\/\/students.ubc.ca\/about-student-services\/enrolment-services-professionals-esp\" target=\"_blank\" rel=\"noopener noreferrer\">Enrolment Services Advisor<\/a> (ESA).<\/p>\n<p>\n<\/div>\n<h3 ><a href=\"#tuition-payments-fees-1\" >Tuition Payments &amp; Fees<\/a><\/h3><div id=\"tuition-payments-fees-1\" class=\"accordian-shortcode-content \" ><\/p>\n<h4>tuition fees<\/h4>\n<p>The remaining 70% of your MM tuition will be divided into two equal installments which are due by no later than:<\/p>\n<ul>\n<li>June 7, 2022 (please note that the May deadline listed on SSC will be extended to June)<\/li>\n<li>September 8, 2022<\/li>\n<\/ul>\n<p>Students pay their fees online through the <a href=\"https:\/\/ssc.adm.ubc.ca\/sscportal\/servlets\/SRVSSCFramework?TARGET=https%3A%2F%2Fssc.adm.ubc.ca%2Fsscportal%2Fservlets%2FSRVSSCFramework\" target=\"_blank\" rel=\"noopener noreferrer\">Student Service Centre (SSC)<\/a>. Visit the UBC tuition web site to learn about allowable <a href=\"https:\/\/students.ubc.ca\/enrolment\/finances\/paying-tuition\" target=\"_blank\" rel=\"noopener noreferrer\">methods of payment<\/a>.<\/p>\n<hr \/>\n<h4>student levied fees<\/h4>\n<p>Similar to your undergrad, there will also be <a href=\"http:\/\/www.calendar.ubc.ca\/vancouver\/index.cfm?tree=14,267,784,0\" target=\"_blank\" rel=\"noopener noreferrer\">student-levied fees<\/a> charged by UBC included in each installment. The exact amount of tuition and student-levied fees as well as the payment deadline will be on the <a href=\"https:\/\/ssc.adm.ubc.ca\/sscportal\/servlets\/SRVSSCFramework?TARGET=https%3A%2F%2Fssc.adm.ubc.ca%2Fsscportal%2Fservlets%2FSRVSSCFramework\" target=\"_blank\" rel=\"noopener noreferrer\">SSC<\/a> prior to each month that tuition is due.<\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li><a href=\"http:\/\/www.calendar.ubc.ca\/vancouver\/index.cfm?tree=14,267,784,0\" target=\"_blank\" rel=\"noopener\">UBC Student Fees website<\/a><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li><strong>Compass Card Fees: <\/strong>With the ongoing pandemic, some changes have been made and continue to be made to the UBC Compass Card. Please check the <a href=\"https:\/\/planning.ubc.ca\/transportation\/transit\/u-pass-compass-card\" target=\"_blank\" rel=\"noopener\">UBC Compass Card web site<\/a> for details on obtaining, opting out or applying for a financial hardship subsidy.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h4>MM specific student levied fees<\/h4>\n<p>There are two specific fees for the MM program that will be due in their entirety with the first MM tuition installment in May:<\/p>\n<ol>\n<li style=\"list-style-type: none;\">\n<ol>\n<li style=\"padding-left: 30px; text-align: left;\"><strong>MM Society fee: <\/strong>This amount goes directly to your elected MM Society Executive and will help toward events and activities for your cohort.<\/li>\n<li style=\"padding-left: 30px;\"><b>Sauder Building fee<\/b>: All Sauder students pay the UBC Sauder School of Business Building Fee. This is a student levied fee passed through student referendum to help finance the new building.<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p>To view a breakdown of tuition and student levied fees, check the itemized list attached to each installment on the <a href=\"https:\/\/ssc.adm.ubc.ca\/sscportal\/servlets\/SRVSSCFramework?TARGET=https%3A%2F%2Fssc.adm.ubc.ca%2Fsscportal%2Fservlets%2FSRVSSCFramework\" target=\"_blank\" rel=\"noopener noreferrer\">SSC<\/a>.<\/p>\n<p><span style=\"color: #888888;\"><em>*NOTE:\u00a0 All students are responsible for keeping up-to-date in paying tuition and student fees until the completion of their program. <\/em><\/span><span style=\"color: #888888;\"><em>Students who have not paid their fees will be placed on financial hold; further registration will not be permitted and grades will not be released. Students on financial hold <\/em><\/span><span style=\"color: #888888;\"><em>will also be charged a processing fee by UBC and interest will be assessed on the outstanding balance until it is paid in full.<\/em><\/span><\/p>\n<p>\n<\/div>\n<h3 ><a href=\"#award-payments-2\" >Award Payments<\/a><\/h3><div id=\"award-payments-2\" class=\"accordian-shortcode-content \" ><\/p>\n<p>If you were awarded an Entrance Scholarship at the time of admission to the B+MM Dual Degree program, you would have been notified by Sauder Admissions at that time.<\/p>\n<p>All awards and\/or scholarships will be paid toward your tuition and any residual amount will then be issued to you. Students are encouraged to check their financial record on the <a href=\"https:\/\/ssc.adm.ubc.ca\/sscportal\/servlets\/SRVSSCFramework?TARGET=https%3A%2F%2Fssc.adm.ubc.ca%2Fsscportal%2Fservlets%2FSRVSSCFramework\" target=\"_blank\" rel=\"noopener noreferrer\">Student Service Centre (SSC)<\/a> for confirmation of award installment amounts and dates. Normally, awards are paid out using the following payment schedule:<\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>Under $1,000: paid out entirely in one term<\/li>\n<li>$1,000 - and above: divided equally and paid out in two terms<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><span style=\"color: #808080;\"><em>NOTE: Entrance Scholarships will not appear on the SSC until closer to the start of the program. If you were awarded an entrance scholarship and do not see it on you SSC account, please reach out to our office.<\/em><\/span><\/p>\n<p>\n<\/div>\n<h3 ><a href=\"#loans-3\" >Loans<\/a><\/h3><div id=\"loans-3\" class=\"accordian-shortcode-content \" ><\/p>\n<p>Students are eligible to apply for <a href=\"https:\/\/students.ubc.ca\/enrolment\/finances\/student-loans\" target=\"_blank\" rel=\"noopener noreferrer\">government student loan funding<\/a> for the MM program through StudentAid BC.<\/p>\n<p>These loans will not be enough to cover the full cost of tuition for the program and it's common for students to look for additional sources of funding such as a student line of credit. You are strongly encouraged to have financing in place for the full amount of MM tuition and student-levied fees prior to the June program start. Tuition will be due in two equal installments in May and September.<\/p>\n<p>Please connect with your <a href=\"https:\/\/students.ubc.ca\/about-student-services\/enrolment-services-professionals-esp\" target=\"_blank\" rel=\"noopener noreferrer\">Enrolment Services Advisor<\/a> (ESA) to discuss options available to you.<\/p>\n<h4>loan applications<\/h4>\n<p>The MM program spans two Academic Years (AY):<\/p>\n<ul>\n<li>May \u2013 August (2022 AY)<\/li>\n<li>September \u2013 December (2022\/2023 AY)<\/li>\n<\/ul>\n<p>Because of this, students in the MM will likely need to submit two <a href=\"https:\/\/students.ubc.ca\/enrolment\/finances\/student-loans\" target=\"_blank\" rel=\"noopener noreferrer\">loan applications<\/a>:<\/p>\n<ul>\n<li>One (ideally) by March 15 for June \u2013 August<\/li>\n<li>One by July 15 for September \u2013 December<\/li>\n<\/ul>\n<p><span style=\"color: #319b42;\"><em>NOTE: Loans generally can take 4-6 weeks to be processed so students would need to apply by April 15 at the latest to get notice of their loan funding in time for June<\/em>.<\/span><\/p>\n<p>Students require eligibility for the MM on the system for 2022 Summer session before submitting a loan application.\u00a0 Eligibility for the MM should be on the system by the end of February but it is suggested that students start compiling their application for Summer session funding now so it is ready to submit as soon as possible.<\/p>\n<p>\n<\/div>\n<h3 ><a href=\"#tax-information-for-students-4\" >Tax Information for Students<\/a><\/h3><div id=\"tax-information-for-students-4\" class=\"accordian-shortcode-content \" ><\/p>\n<p>In Canada, income tax is administered by the Canada Revenue Agency (CRA). The Canadian income tax year is from January 1 to December 31. If you owe income tax, you must pay it by April 30 for the preceding calendar year.<\/p>\n<h4>resources:<\/h4>\n<ul>\n<li><a href=\"https:\/\/www.canada.ca\/en\/revenue-agency.html\" target=\"_blank\" rel=\"noopener noreferrer\">Canada Revenue Agency<\/a><\/li>\n<li><a href=\"https:\/\/students.ubc.ca\/enrolment\/finances\/taxes\/filing-taxes-canada\" target=\"_blank\" rel=\"noopener noreferrer\">Tax information for International Students <\/a><\/li>\n<li><a href=\"http:\/\/www.cra-arc.gc.ca\/cntct\/ntrntnlnqrs-eng.html\" target=\"_blank\" rel=\"noreferrer noopener\">International Tax Services Office<\/a><\/li>\n<\/ul>\n<h4>tuition tax receipts<\/h4>\n<ul>\n<li>Tax receipts are made available to students by UBC in early February.<\/li>\n<li>Students can access their tax receipts (T2202A-tuition, T4A-if you worked for UBC, and Transit Tax Credit-U-Pass) on the <a href=\"https:\/\/ssc.adm.ubc.ca\/sscportal\/servlets\/SRVSSCFramework?TARGET=https%3A%2F%2Fssc.adm.ubc.ca%2Fsscportal%2Fservlets%2FSRVSSCFramework\" target=\"_blank\" rel=\"noopener noreferrer\">Student Service Centre (SSC)<\/a>.<\/li>\n<li>Additional information on your T2202A receipts can be found on the <a href=\"https:\/\/ssc.adm.ubc.ca\/sscportal\/servlets\/SRVSSCFramework?TARGET=https%3A%2F%2Fssc.adm.ubc.ca%2Fsscportal%2Fservlets%2FSRVSSCFramework\" target=\"_blank\" rel=\"noopener noreferrer\">SSC<\/a> homepage under FAQs\/Finances.<\/li>\n<\/ul>\n<p>\n<\/div>\n<\/div><!-- #random-accordion-id-130end of accordion shortcode -->\n","protected":false},"excerpt":{"rendered":"<p>Managing your money is an essential part of student life and incoming students should be prepared to meet the majority of the financial need for the MM program prior to it&#8217;s start.<\/p>\n","protected":false},"author":68777,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_crdt_document":"","footnotes":""},"class_list":["post-20","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/blogs.ubc.ca\/2023mmddprogram\/wp-json\/wp\/v2\/pages\/20","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.ubc.ca\/2023mmddprogram\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/blogs.ubc.ca\/2023mmddprogram\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.ubc.ca\/2023mmddprogram\/wp-json\/wp\/v2\/users\/68777"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.ubc.ca\/2023mmddprogram\/wp-json\/wp\/v2\/comments?post=20"}],"version-history":[{"count":9,"href":"https:\/\/blogs.ubc.ca\/2023mmddprogram\/wp-json\/wp\/v2\/pages\/20\/revisions"}],"predecessor-version":[{"id":8501,"href":"https:\/\/blogs.ubc.ca\/2023mmddprogram\/wp-json\/wp\/v2\/pages\/20\/revisions\/8501"}],"wp:attachment":[{"href":"https:\/\/blogs.ubc.ca\/2023mmddprogram\/wp-json\/wp\/v2\/media?parent=20"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}