Bursary Fund (Assorted Topics)

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$4.8 Million to admin the Veteran Bursary Fund a little high?

Post by acerman1234 on Fri 10 Jan 2014, 07:01

Say it is not so...........................

$1300 X 4000 = $5.2 million........$20 Million- $5.2 million = $4.8 million in fees

The court order states interest and what is left over from the $5.2 million of unused bursaries to be redistributed as extra bursaries.
This leaves $4.8 million is FEES?

Please correct me.......screwed again?


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Re: Bursary Fund (Assorted Topics)

Post by fishman7 on Fri 10 Jan 2014, 07:52

Agree fully Question 

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Re: Bursary Fund (Assorted Topics)

Post by bigrex on Fri 10 Jan 2014, 08:35

The 4.8 million is going to be given as bursaries, to those affected by the clawback under the ELB program, even though they were not part of the class, nor had to pay any legal fees. They will have to wait several years before any money is available to them, so maybe if they are successful in their own possible class action, concerning retro, maybe they will negotiate their own settlement and leave our settlement to the SISIP class members.
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Re: Bursary Fund (Assorted Topics)

Post by Ex Member on Fri 10 Jan 2014, 10:42

This must have been a payout to the lead negioater who worked at or managed aucc . Raw deal all around and this makes no sense! Why give severe disabled veterans education money when some won't or can't attend schooling. Why should families get it, nieces or nephews , when it was the veteran who suffered. This 10 million should have been split among the class to do with how each individual sees fit. Raw deal all around

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Re: Bursary Fund (Assorted Topics)

Post by bigrex on Fri 10 Jan 2014, 13:18

I agree that this was done only because the negotiator for the GoC was the person in charge of AUCC. So therefor this 10 million is going into HIS organization's pocket, not Veterans'. And like I said before, only half of the class members get access to roughly half of the money.
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Re: Bursary Fund (Assorted Topics)

Post by Ex Member on Fri 10 Jan 2014, 15:18

I agree with all the above points ~ to add to those is the uncertainty of whether a Sisip Class Action member will be selected in the annual "500 Bursaries" lottery draws is a concern. In turn, as time moves forward, I speculate that the Fund principle and interest earned within the portfolio, will be depleted for in house costs, favors and agendas.

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Re: Bursary Fund (Assorted Topics)

Post by Guest on Fri 10 Jan 2014, 18:44

if untouched by anyone but the class and the ELB guys this fund will be worth more that its current ten mil in aprox 15 years. due to the demographics of those eligible to receive the grant and the restrictions on it I seriously doubt anywhere near half the fund will be touched (at least by disabled vets) . however if they were to give priority for those in the final year of education we could come close. not that they would select from those that still have 3 ore 4 more years so those on there final year will never be able to claim it and thus keeping more money in the hands of their lead negotiator FRACKERS!!!! just watch and see how many on their last year will be denied.

always question authority
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Re: Bursary Fund (Assorted Topics)

Post by Sapper Zodiak on Sat 11 Jan 2014, 21:00

Well here it is...another year...and more waiting!! When (actual date) is the AUCC going to be ready to receive apps for the bursary program?? I have only one child (young woman) in post-secondary education and she is in her final semester!! I see more, everday, how this program of bursaries is not helping the Class members and their families. Is the system going to fail like when we had to check apps for the Sisip lottery? This just doesn't make sense. Next year will they let me have the bursary to pay down her many thousands of dollars in student debt?? I didn' think so.
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Re: Bursary Fund (Assorted Topics)

Post by Guest on Sun 12 Jan 2014, 10:46

yup im hoping they see they get a big chunk of change in their pocket even if they give priority to those on their last year and do the right thing.

good luck sapper
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Re: Bursary Fund (Assorted Topics)

Post by Trooper on Sun 12 Jan 2014, 18:23

Got my password the other day, I understand that when the application process starts, they will contact us via email.
I also am under the understanding that the application process will , and or should start sometimes this Month.
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Re: Bursary Fund (Assorted Topics)

Post by Trooper on Tue 14 Jan 2014, 14:53

January 13, 2014
AUCC is pleased to announce the launch of the Veterans' Bursary Program as of Wednesday, February 5th at 13:00 EST.

At the time of the launch of the program, Veterans will be able to go online and select the individual who will apply for their bursary.

The original directions provided to AUCC to administer the Veterans Bursary Program was absent of instructions to address veterans who were deceased.

Recently, AUCC was provided instructions for administration
of the Program as it relates to deceased veterans.

In order to allow AUCC ample time to communicate with representatives of deceased veterans identified to date,
the deadline to launch the program was delayed.
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Re: Bursary Fund (Assorted Topics)

Post by RobbieRoyal on Wed 15 Jan 2014, 17:38

bursary site sent out an email saying site now open, 15 Jan 2014, logged on was not repeat no allowed to select an individual for the bursary What The Fuck gives?
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Re: Bursary Fund (Assorted Topics)

Post by Trooper on Wed 15 Jan 2014, 18:09

Robbie, this is what I know so far, no member of the class can apply and or designate anyone until Feb 05 at 13.00 hrs Ottawa time. At that time, and that time only will we be able to apply, it is on a first come first serve basis. So we must be on standby at that Date and time. Things to prepare, proper first and last name of the person you are designating, relationship of that person to you, and email address of the person you are designating. If you make it in the first cut numbers, last I heard it was 585, they will contact the person designated via the email you have provided, and the process of distributing the funds will follow.
If I get any new info between now and then, I will post it here on CSAT.
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Re: Bursary Fund (Assorted Topics)

Post by RobbieRoyal on Thu 16 Jan 2014, 09:08

ok see my bad lol 5 feb 2014 @ 1300 eastern jump in line asap
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Re: Bursary Fund (Assorted Topics)

Post by Sapper Zodiak on Thu 16 Jan 2014, 10:39

Mornin Robbie....this waiting in line for scraps BS is just ridiculous!! Maybe I won't get a part of the bursary for my daughter...last semester of school and all. I wonder why they put a limit on the number of bursaries available to the class each year? Too much processing time? Not enough staff? HMMM...sounds familiar. This stinks, pitting everyone against each other in the class. Not the right way to go about it.
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