By Angela Espinoza, News Editor
“Did you know?” informs Douglas students about college services. If you’re part of a campus organization for students and want to raise awareness, email us at news@theotherpress.ca
Financial Aid at Douglas College covers areas ranging from bursaries and scholarships to student loans and grants.
Whether you’re looking for an applicable scholarship or simply inquiring about tax and other financial concerns, help can be sought at Financial Aid offices on both the New Westminster and David Lam campuses.
“Students should plan ahead, at least two months before funding is needed,” said financial aid and award manager Diana Christie. “Application processes and approvals for financial assistance take time.”
Financial assistance from the college requires specific responsibilities on the parts of students, whether it’s paying course fees or paying back loans. The 2015 Financial Aid flyer suggests that in order to keep on top of their college-related finances, students should “create a financial plan” and always let the Financial Aid offices know “if there are any changes to your financial situation.”
“Students need to understand that a student loan is just like any other loan in terms of responsibility in paying it back,” said Christie. “The only difference between a student loan and a loan from a bank is that interest is not charged while a student is attending school, and students are not required to make payments until six months after they stop going to school.”
Christie understands that students have much going on their lives that can interfere with paying loans on time or seeking help prior to an issue occurring.
“It is really important for [students] to know how to budget, and the difference between needs and wants,” said Christie. Christie also suggested students seek online help from “The Credit Counseling Society,” which she states, “has a number of great tools available to help build a budget and prioritize.”
StudentAid BC sets a maximum for how much full-time and part-time students can receive. Students with “dependants”—persons who rely on them—receive up to $510 per week, while those without dependants receive $320 per week. Both can be adjusted based on whether or not the student is also receiving grants. For part-time students, loans can be taken out regarding program funding (up to $1,200 per program year) and aid with factors such as tuition, textbooks, and transportation. Part-time students with disabilities, however, receive up to $2,800 per program year.
The Financial Aid offices are located in Room 2740 at the New Westminster campus and room A1030 at the David Lam campus. Both operate Monday to Friday from 9 a.m. to 4 p.m. with Wednesday office hours starting at 9:30 a.m.
