Skip to Main Content

Student Financial Services

Bookmark and Share print small medium large 

HOME / FREQUENTLY ASKED QUESTIONS /


How much are parents expected to contribute?

Expected Parental Contribution (applies to dependant students only):

The term parent refers to parent(s), common-law partners of parents, step-parent(s) or guardian(s).

Part of the application form deals with parental contribution. If you are a “dependent” student, your parents may be expected to make a contribution toward the cost of your education. The term parent refers to parent(s), common-law partners of parents, step-parent(s) or guardian(s). See dependant student category for information on student category.

If your parents are separated or divorced, the family income would be from the parent that you live with most of the time. If this parent remarries or enters into a common-law relationship before your 18th birthday, your step-parent or common-law parent is also financially responsible and his or her 2012 income will be included in calculating your financial need.

An expected parental contribution for a dependent student will be based on the family’s size, level of income and the number of children attending a post-secondary institution. Include in your family size all dependent children and children in post-secondary education.

Complete the following calculations to find out the amount your parents are expected to contribute.
  1. Calculate Discretionary Income:

    To calculate discretionary income from the total family income use line 150 of parent(s) 2012 Income Tax and Benefits Return(s) and subtract the following:
    • The total CPP and EI contributions paid (lines 308 & 312 on Federal Tax Schedule 1)
    • The total income tax payable (line 435 on T1) and
    • A moderate standard of living for P.E.I. based on family size (see table below)

    Discretionary Income Formula
    Total
    Family Income
    - Total
    CPP & EI
    Contributions
    - Total Income Tax
    Payable
    - Moderate Standard
    of Living
    = Discretionary
    Income


    Parents Moderate Standard of Living Allowance
    Family Size MSOL Family Size MSOL
    2 $36,830 6 $63,905
    3 $46,823 7 $67,703
    4 $53,914 8 $70,993
    5 $59,412 9 $73,898

    MSOL = Moderate Standard of Living Allowance
  2. Calculate Expected Weekly Parental Contribution:

    Using your parents Discretionary Income figure, refer to the table below to determine which formula to use to find your parents expected weekly parental contribution.

    Expected Weekly Parental Contribution Formula
    If Annual Discretionary Income is: Weekly Parental Contribution
    $0 - $7,000 (15% of Discretionary Income)/52
    $7,001 - $14,000 (1,050 20% of (Discretionary Income - 7,000))/52
    $14,001 and over (2,450 40% of (Discretionary Income - 14,000))/52
  3. Calculate Expected Parental Contribution:

    Weekly
    Parental
    Contribution
    x # of weeks
    in study period
    ÷ # of dependents in family
    (including student)
    who are currently attending
    post-secondary education
    = Expected
    Parental
    Contribution
back to top