Assets

Your financial and vehicle assets (and those of your spouse, if applicable ) are considered when determining financial need. You must provide Student Financial Assistance Branch with information about all of your vehicular and financial assets owned as of the first day of your study period. The appropriate asset exemptions will be applied to determine the amount you will be expected to contribute.

A $5,000 exemption is allowed from the gross market value of vehicles registered in your name and/or your spouse's name.

A $2,000 exemption on RRSP's is allowed from the current market value for each year you have been out of secondary school. If you are married or living in a common-law relationship, a $2,000 exemption on RRSP's is also allowed for each year your spouse has been out of secondary school.

For married or common-law students, an exemption for cash and other financial investments of $1,500 each is allowed for the student and spouse or a total exemption of $3,000 per couple. An additional $500 exemption is allowed for each dependent child.

Single parents are allowed a $1,500 exemption for both themselves and their first dependent child for a total exemption of $3,000. Another $500 is allowed for each additional child.