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What are the expected contributions from married students?

Expected Contributions for Married Students:

If you are a “married” student, both you and your spouse are expected to make a contribution toward the cost of your education. See Student Category for married or common-law student category information.

Your contribution is calculated by subtracting the following allowable expenses from your annual gross family income.
  1. Income deductions (i.e. Income Tax, Canada Pension Plan and Employment Insurance).
  2. Moderate standard of living allowance.
  3. Allowance for each dependent child. See Weekly Living Allowances. On PEI the weekly allowance per dependent child is $110.

Your spouse will be required to verify his or her current income. We use the current level of income to determine what your pre-study income will be for a maximum of 18 weeks and to determine what your family income will be during your academic year.

Example:
Student’s Study Period: Sept 2014 to April 2015

Students Current Status: Last year student was in the workforce or at university, therefore their pre-study period is 18 weeks. This is the 18 weeks immediately prior to the first day of their classes. In this case we will use May 1 to Sept 1 as their pre-study period.

Income verification required from student: Student is required to estimate his or her pre-study period income on the student loan application.

Income verification required from student’s spouse: The student’s spouse is required to verify his or her current gross income with a letter from their employer or a pay stub (income that is verified with letter or pay stub must be within the last 4 weeks).

If the spouse’s gross income changes over the pre-study or study period, Student Financial Services must be notified. An example of a change in income would be if your spouse is currently receiving Employment Insurance income and he or she finds employment.

If you require further explanation please call (902) 368-4604.
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