To assist with this transition, it is vital that UBC graduate programs help publicise the importance of students receiving awards signing up for direct deposit via their SSC accounts. Otherwise, award holders will be issued a cheque that they will have to pick up in person at Brock Hall for any award amounts above their tuition and fees (which will be taken out of their award payments at the beginning of each term). More information on signing up for direct deposit can be found on the Enrolment Services website: http://students.ubc.ca/enrolment/finances/tuition/payment/direct-deposit.
Partly in response to student concerns regarding changes to payment distribution schedules (moving from semi-monthly payments to a lump sum at the beginning of each term), G+PS has partnered with Enrolment Services to put on a workshop, Financial Planning and Budgeting for Graduate Students (https://www.grad.ubc.ca/about-us/events/12875-financial-management-budge…), with presenters from Enrolment Services and VanCity Savings Credit Union.
Other important considerations to keep in mind when advising your students: a lump sum payment at the beginning of the term can result in larger award recoveries for students receiving larger sums when they complete their programs, withdraw, or take a retroactive leave of absence. Awards excluding CIHR funding are pro-rated to the end of the month for program completion (based upon the date program requirements were complete), and they are pro-rated to the day for CIHR funding and withdrawals.
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Sharon Ruschkowski
Bioinformatics Graduate Program Coordinator
100-570 West 7th Avenue
Vancouver, BC CANADA
V5Z 4S6
sharonr@bcgsc.ca
bioinformatics.ubc.ca
bioinformatics.bcgsc.ca
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