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2005
- 2006 FANS BENEFITS
Financial Assistance for Nunavut Students
THE FOLLOWING FANS BENEFITS ARE AVAILABLE
TO QUALIFIED NUNAVUT RESIDENTS
BASIC
GRANT
To receive this grant you must be ordinarily resident in Nunavut
for a continuous period of at least one year immediately before
the date of acceptance for registration and you must be either:
-
An Inuit Nunavut Beneficiary OR you must have:
- Attended
elementary and/or high school in the Nunavut. You qualify for
one year of grant for each three years you attended school in
Nunavut. See the FANS Guide for more information.
The
Basic Grant consists of the following benefits:
-
Tuition and fees up to $1250 per semester
-
Cost of airfare– excursion rate -- to the nearest Nunavut
Arctic College location offering the program or if the program
is not offered in Nunavut, the southern gateway city for your
region. Gateway cities are: Baffin -Ottawa/Montreal, Kivalliq
- Winnipeg, Kitikmeot – Edmonton. Travel costs beyond these
cities are the student’s responsibilities. FANS also does
not cover ticket change fees, excess baggage charges, or moving
expenses. Students who travel without dependants are eligible
for a return trip home during Christmas. Students who travel without
dependants are eligible for a return trip home during Christmas.
Students receiving the Supplementary Grant are eligible for the
Dependent Travel Benefit. Please see the FANS Travel FAQ Sheet
for more information. ^TOP^
SUPPLEMENTARY
GRANT
This grant is available to Inuit Nunavut Beneficiaries who are residents
of Nunavut. The Supplementary Grant is in addition to the Basic
Grant and consists of the following benefits:
- A
book allowance of actual costs up to $200 per semester
- A
monthly living allowance to help cover daily living costs
FANS
MONTHLY LIVING ALLOWANCES
FOR STUDENTS WHO RECEIVE THE SUPPLEMENTARY GRANT |
|
Married
Student with Employed Spouse |
Married-student
with Non-Employed Spouse |
Single
Student
with Dependants |
Student |
$825 |
$1,280 |
N/A |
With
1 dependant |
$1,075 |
$1,480 |
$1,280 |
With
2 dependants |
$1,175 |
$1,680 |
$1,480 |
With
3 dependants |
$1,275 |
$1,880 |
$1,680 |
With
4 dependants |
$1,375 |
$2,080 |
$1,880 |
With
5 dependants |
$1,475 |
$2,280 |
$2,080 |
Additional
dependants |
$100
for each additional dependant |
$200
for each additional dependant |
$200
for each additional dependant |
FANS considers a dependant a child, stepchild, or adopted child
under the age of 18 who lives with or is under the care of and is
financially dependent on:
-
the student, or
-
the person to whom the student is married, or
-
the person with whom the student lives with as a family continuously
for a period of not less than one year prior to the date of registration
for the semester or semesters in which his or her student financial
assistance relates.
-
Financially dependent adult children attending secondary school
are considered dependants if supported by a letter from the secondary
school confirming that the person is attending school full-time.
^TOP^
NUNAVUT STUDENT LOANS
The
Department of Education provides student loans to Nunavut residents
to help them pay for their education and living costs while attending
post-secondary studies. The total amount you may borrow in loans
may not exceed:
-
$26,000 if you had a Basic Grant
-
$36,000 if you have not had a Basic Grant
The
Interest rate for loans is set at the time repayment begins. The
rate set is one percent below the prime interest rate as set by
the Bank of Canada for January 1 of the year in which you finish
being a student. The length of time you have to repay is based on
the total amount that you have borrowed. You must begin to repay
the loan within six months of the completion of your schooling.
There are three types of student loans: Primary Loans, Secondary
Loans, and Needs Assessed Loans.
-
Primary Loans
You are eligible for a Primary Loan to cover one year of post-secondary
education for each three years you have been a resident of Nunavut.
If you do not return to live in Nunavut for the required period
of time, you will have to pay back the all or part of the loan.
The table below lists the per-year loan amounts.
-
Secondary Loans
This loan is made to residents of Nunavut who are not eligible
for a grant or a Primary Loan. A Secondary Loan must be repaid
in full. The table below lists the per-year loan amounts.
Primary
and Secondary Per Academic Year Loan Amounts |
Students
who have received a Basic Grant |
Student
who have not received a Basic Grant |
Single
student |
$3,200 |
Single
student |
$4,400 |
With
one dependant |
$4,000 |
With
one dependant |
$5,200 |
Each
additional dependant |
$500 |
Each
additional dependant |
$500 |
- Needs
Assessed Loans
Needs Assessed Loans are granted to students who are eligible
to receive FANS benefits. To apply for the Needs Assessed Loans
(NAL) you must fill out the Needs Assessed Loan Application. The
NAL is granted on the basis of your financial need. Needs Assessed
Loans must be repaid in full.
You may apply for a NAL at any time during the school year. The
amount granted is based on the information provided in the Needs
Assessed Loan Application. The maximum amount for each academic
year that can be approved is $165 for each week you are in school.
The loan is granted for one academic (school) year. A new application
must be made for each academic year that you wish to receive a
Needs Assessed Loan.
Needs assessed loans are paid out in four installments per semester.
The first payment is made at the beginning of each term. You must
fill out the FANS Needs Assessed Loan 2nd Installment Form to
receive your loan payments for the second term. ^TOP^
CORRESPONDENCE
COURSES
Qualified students who have successfully completed post-secondary
correspondence courses are reimbursed up to $250 per course. For
more information, please contact the FANS Office for the Correspondence
Course Information Sheet, or click on the link below.
Correspondence
Course Information Sheet - HTML (best
for quick viewing)
Correspondence
Course Information Sheet - pdf (best
for printing  ) |
