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FINANCING YOUR ROTMAN MBA
Entrance Scholarships and Fellowships
CIHR Science to Business Scholarship
Scholarships and Fellowships for In-Program Students
Ontario Student Opportunity Trust Fund (OSOTF) Awards
Rotman Scholars
Rotman Team Mentors
Ontario Graduate Scholarships
Professional Student Loan Plans
Government Financial Aid
Emergency Financial Assistance
Employment Opportunities
International Program Electives
Yearly Schedule
The Rotman School strives to recruit the best candidates to its programs, and is committed to helping you afford your education by providing you with a broad range of financial options.
Entrance Scholarships and Fellowships
Each year, the Rotman School grants over $1.5 million in entrance scholarships, fellowships and awards to about 15 per cent of our students. These are offered on the basis of exceptional merit. No separate scholarship application is required and you will be automatically considered for scholarships when your application is reviewed for admission.
Click here for a list of Rotman scholarships, fellowships and awards.
CIBC BASc / MBA Scholarships
The Skoll BASc/MBA program is supported by the generous contributions of the Jeffrey Skoll Foundation and the Canadian Imperial Bank of Commerce (CIBC). These gifts, gratefully received by the University, were matched through a Government of Ontario program called Ontario Students Opportunity Trust Fund (OSOTF).
Eligible students may receive a Skoll scholarship which helps to defray the difference between tuition fees in the Faculty of Applied Science and Engineering and those at the Rotman School of Management. A further award from the CIBC scholarship may be available to eligible students, the amount of which varies from year to year depending upon the number of recipients.
These scholarships are awarded to students entering the BASc/MBA program in the Rotman School who have displayed high academic merit in their first three years of Engineering studies and who have a high level of leadership potential. Additional preference will be given to students who demonstrate financial need. Applications are submitted to the Faculty of Applied Science and Engineering. Please visit the BASc/MBA website for further details.
CIHR Science to Business Scholarship
Students with a PhD in a health-related field and wishing to pursue an MBA as their next step to a career supporting innovation in Canada, should consider the S2B scholarship.
This initiative is a partnership with Canadian business schools to encourage individuals with PhDs in a health related discipline to pursue an MBA. It is anticipated that graduates of S2B-supported MBAs will pursue careers in research, management, regulatory affairs, public policy, patent law, and other specialties required to improve capacity and performance of commercialization and innovation. The long-term goal of this program is to develop a cadre of entrepreneurs and venture capitalists knowledgeable in health research and business management and foster an entrepreneurial culture within the research community.
CIHR has now moved to a new model for the Science to Business award where the students apply directly to CIHR and can pursue any type of MBA (previously, it was limited to individuals enrolled in a health and/or biotechnology stream MBA program.)
For full details click here .
Nominated Principal Applicants must:
- Be a Canadian citizen or permanent resident
- Have applied or been accepted to an MBA program in Canada with a program start date between April 1st of the year they apply and July 31st of the following year
- Have obtained a PhD in a health-related field within 7 years of the application deadline. Applicants who are expecting to receive a PhD after the application deadline may apply however the award will be contingent upon receipt of a confirmation of completion of all requirements of the PhD program. To be considered eligible, the applicant must provide a justification that the PhD topic of research was relevant to one or more of the CIHR areas.
Award amounts:
The maximum amount awarded for a single award will be $ 30,000 per annum for up to 2 years ($30,000 per annum pro-rated monthly while registered in full-time classes; $15,000 per annum pro-rated monthly while registered in part-time classes). The awards are non-renewable.
In addition:
- Students apply directly to CIHR
- Eligibility no longer limited to MBA programs with a health-stream
Application deadline: February 2, 2011
For questions on CIHR funding guidelines, how to apply, and the peer review process contact:
Jasmine Lefebvre
Program Delivery Coordinator
Canadian Institutes of Health Research
Telephone: 613-954-5999
Fax: 613-954-1800
Email: jasmine.lefebvre@cihr-irsc.gc.ca
For questions about this initiative and research objectives contact:
Brigitte Viens
Senior Knowledge Translation Specialist
Knowledge Translation Branch
Canadian Institutes of Health Research
Telephone: 613-952-8965
Fax: 613-954-1800
Email: brigitte.viens@cihr-irsc.gc.ca
Scholarships and Fellowships for In-Program Students
The Rotman School offers a number of continuing scholarships, fellowships and awards to students who have completed the first year of their MBA program. Administered through the Program Services Office, the call of applications (where required) takes place at the end of the spring term and applications are due no later than May 31, unless stated otherwise. Most are available to both domestic and international students on the basis of academic merit.
Ontario Student Opportunity Trust Fund (OSOTF) Awards
Some awards have been established as part of the Government of Ontario’s Ontario Student Opportunity Trust Fund (OSOTF) and must be awarded in compliance with its conditions. Under OSOTF II, financial need and Ontario residency are the primary award conditions, and are defined as:
Financial Need: Financial need is most easily demonstrated with receipt of OSAP for the award year. It can also be assessed using the Rotman School’s Financial Needs Assessment.
Ontario Residency: must be a Canadian citizen or permanent resident and lived in Ontario twelve consecutive months prior to starting a post-secondary program.
Rotman Scholars
The Rotman School offers an academic mentorship program for first-year core courses. Upper-year MBA students with an excellent academic record in a particular course and demonstrated communication skills will be selected to provide academic guidance and support to first-year students. Applicants must possess a strong desire to assist students and an ability to commit (approximately) 10 hours per week for the duration of the course to which they are applying.
The role of the Scholar typically comprises a weekly tutorial session in which he/she may expand on material covered in class; provide guidance in preparation for an upcoming deliverable, quiz or exam; and/or address specific topics which individual students are seeking clarification on. In addition to the weekly tutorial sessions, the Scholar may perform other functions such as one-on-one tutorial support for students who are facing academic challenges; individual or small group meetings prior to exams or major projects; and instructor support (excluding the grading of course work which is the responsibility of Teaching Assistants).
Rotman Team Mentors
Rotman Team Mentor Awards have been established to recognize achievement and allow MBA students to both demonstrate and enhance their leadership skills by providing coaching and mentorship to the first year MBA project teams. These opportunities are uniquely suited to upper-year students who have experienced the core MBA team experience and therefore have an understanding of the challenges and opportunities that students face in the Rotman MBA core set of courses.
Team mentors are selected on the basis of strong communication and leadership skills, a demonstrated understanding of team processes and a belief in the value of teams.
Ontario Graduate Scholarships
Jointly supported by the Ontario Government, the University of Toronto and generous donors to the Rotman School these scholarships are awarded to students enrolled in full-time studies who have obtained a first class standing.
Students interested in applying for an Ontario Graduate Scholarship should consult the OGS web site for eligibility, conditions and application forms. Applications close in November prior to the year in which the award is made.
Click here to view the 2009 Student Awards Ceremony program showing recipients of all scholarships, fellowships and awards for the 2008-09 academic year.
Professional Student Loan Plans
BMO and RBC Interest-Subsidized Tuition Loan
Canadian citizens and permanent residents can access an interest subsidized loan to cover the full cost of their tuition and Rotman-specific incidental fees. International students on a student visa are eligible for both loans, however, the maximum loan amounts may vary, and some students may require a Canadian co-signer.
The Rotman School pays the interest incurred on a specialized student loan from either the Bank of Montreal or the Royal Bank of Canada for the duration the student is enrolled in the MBA program up to June 30 of their graduating year.
Rotman Interest Subsidy Program (RISP)
Students who obtain a student or educational loan from an officially-recognized financial institution (in Canada or in their home country) to support the educational cost of their MBA are eligible to apply for the Rotman Interest Subsidy Program (RISP). The Rotman School will provide a subsidy to assist students with the interest incurred on such a loan for the duration the student is enrolled in the MBA program up to June 30 of their graduating year.
Government Financial Aid
Each provincial government in Canada administers and maintains a student financial aid program in cooperation with the federal government’s Canada Student Loan (CSL) program. When you apply to your provincial government for assistance, you are also automatically considered for a loan through the CSL.
In Ontario, the Ontario Student Assistance Program (OSAP) is available to help supplement (not replace) the financial resources that the student is expected to contribute. Information about OSAP can be found online at osap.gov.on.ca.
Eligibility requirements, maximum borrowing amounts and loan repayment policies vary from province to province. Usually the assistance is in the form of interest-free loans while a student is in school, although some provinces award grants to students or offer additional assistance to students graduating with debt over a certain amount.
Emergency Financial Assistance
Students who find themselves in financial difficulty due to unforeseen or unexpected circumstances are advised to consult the Assistant Director, Student Financial Services as soon as the situation arises. Students in this situation may be considered for Emergency Bursary assistance. Please note that funding is limited and is intended to meet only acute, short-term financial needs.
Employment Opportunities
Teaching and Research Assistantships
A variety of teaching assistant positions are available through Rotman and through the commerce and finance departments of the different campuses and colleges of the University of Toronto. Students who have completed the first year of their MBA are eligible to apply for these positions, which will be posted prior to each term and/or academic year. A limited number of research assistant positions are also available through individual faculty members and are mostly available in a student’s second year.
Summer Employment
Generally eighty to ninety per cent of Full-Time Rotman students find employment during the summer, with internships usually running from May to August.
Financial Options: Yearly Schedule for Full-Time Students
While dates are subject to change according to regulations and availability, the following is a typical schedule of different financial options for the Full-Time MBA class:
First Year
• Entrance scholarships and fellowships awarded with offer of admission; paid in September
• September 1: BMO and RBC loans disbursed
• September 15: Canada Student Loans disbursed (first installment)
• October: Applications for Ontario Graduate Scholarships for the following academic year
• January 15: Canada Student Loans disbursed (second installment)
• March: Majority of interviews for summer employment
• May: Call for applications for Rotman continuing awards and scholarships
• May: Summer employment begins
• Late August: Teaching assistantships assigned
Second Year
• September 1: BMO and RBC loans disbursed
• Early-September: Rotman continuing awards and scholarships disbursed
• September 15: Canada Student Loans disbursed (first installment)
• January 15: Canada Student Loans disbursed (second installment)
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