OSAP
The Ontario Student Assistance Program (OSAP) is a financial aid program only for Ontario residents, that can help you pay for college or university. OSAP offers funding through grants (money that you don’t have to pay back) and a student loan (money you need to repay once you’re done school). When you apply for OSAP, you are considered for both grant and a loan. If you don’t wish to take a loan, and you’re a full-time or part-time student, you can decline it after your application is approved.
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Types of OSAP Funding:
Note: OSAP applications consider both grants and loans. If a loan is not desired, it can be declined after approval.
What OSAP Covers:
Tuition
Books
and equipment
School fees
Living expenses
(only for full-time students)
Child care
(for students with children)
Eligibility:
- Must be an Ontario resident.
- Can be of any age.
- Must be a Canadian citizen, permanent resident, or protected person.
Exclusions:
Some individuals may not qualify for OSAP due to reasons like:
- Discrepancies between reported incomes on the OSAP application and the Canada Revenue Agency (CRA).
- Previous defaults on student loans.
- Exceeding the maximum limit of student loan funding.
- Not being a resident of Ontario, among other criteria.
OSAP for Students on Social Assistance:
- Social assistance must be reported on the OSAP application.
- OSAP receipts must be shared with the caseworker.
Approved Institutions: OSAP can be used for both private and public post-secondary institutions globally, provided they are approved. There are also specific OSAP approved micro-credential programs in Ontario.
Determining OSAP Amount:
Amounts depend on factors like:
- Education expenses including tuition, books, and living expenses.
- Whether the student is attending full-time or part-time.
- The personal financial situation, including family’s income, size, and number of dependents.
Additional Funding:
OSAP offers more support for:
- Indigenous students.
- Youth from Extended Society Care.
- Persons with disabilities.
Note: Funds from a Registered Education Savings Plan (RESP) will not impact the OSAP amount.
Additional Funding:
OSAP offers more support for:
- Indigenous students.
- Youth from Extended Society Care.
- Persons with disabilities.
For more info please contact us or visit (www.ontario.ca/page/osap-ontario-student-assistance-program)