ONTARIO-Ontario has announced it is making it easier for students receiving OSAP to plan, budget and pay for their college or university education.
For the first time, students applying to college or university who have applied for OSAP can now go online to see the estimated tuition costs for each of the programs they have applied to and the estimated amount that will be covered by OSAP. “We’re making the new OSAP even easier to use so more students can benefit from free or reduced tuition. By opening up applications earlier, providing new tools to estimate financial support and delivering grants and loans upfront, students and their families will have the information and support they need to make their dreams a reality.” said Deb Matthews, Minister of Advanced Education and Skills Development
In addition, students receiving OSAP and attending college or university in Ontario will receive a bill from their college or university that has already been reduced by the amount of OSAP aid they will receive. Any remaining eligible OSAP funds will be sent directly to the student to cover additional costs, such as living expenses and books.
OSAP applications for the 2018-19 school year opened in November 2017, four months ahead of previous years, giving students and their families the time and information they need to make the best decisions for their future. More than one-third of all full-time college and university students in Ontario are receiving free tuition this school year, and OSAP applications grew by more than 10 per cent in 2017, compared to the previous year.
Over 225,000 full-time Ontario college and university students are now receiving free average tuition covered by OSAP grants and more than 400,000 Ontario students are receiving grants and loans from OSAP to help pay for college or university.
Students from families with a combined income up to $175,000 will benefit from more generous grants and loans to assist with college and university expenses. Students who qualify for OSAP can choose to turn down the loan, and receive only grants (money that doesn’t have to be repaid). Savings put away in an RESP for college or university no longer count against the money a student can receive from OSAP.
