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Making It Easier To Apply For A Student Loan

2011-01-20
Starting this year, university and college students will be able to apply for OSAP three months earlier, helping them better plan ahead for college and university.

OSAP applications will now be available in February instead of May. In addition, Ontario is putting applications for part-time students on a brand-new OSAP website. These changes will help students plan their budgets earlier and better understand the various types of financial assistance available.

Other recent changes to Ontario’s student aid program are helping students graduate with less debt by:

  • Providing more assistance for tuition, living costs, books, supplies and equipment
  • Allowing students to keep more of the money they earn from part-time jobs
  • Providing a no-interest no-payment period on student loans for six months after graduation
  • Providing additional support for married students and students with children
  • Introducing a new grant for part-time students
  • Offering students more flexibility on repayment.

This is part of the McGuinty government’s Open Ontario Plan to help every student succeed and build a knowledge-based economy for the future.

QUOTES

“Our government is committed to ensuring every qualified Ontarian who wants to go to college or university will find a place. That’s why we continue to invest in student aid and to make it easier for students to get the financial help they need.”
– John Milloy, Minister of Training, Colleges and Universities

“Kingstonians believe in supporting postsecondary education. Students in need of financial aid will now find it much easier to reach their career goals.”
– John Gerretsen, MPP Kingston and the Islands

QUICK FACTS

Ontario is the only province to offer financial assistance applications as early as February.

Over the past six years, Ontario has invested almost $1.6 billion to help make college and university easier to access and more affordable.

The changes to OSAP made this year are helping about 210,000 Ontarians.

Ontario’s 63 per cent postsecondary education rate is one of the highest of all OECD countries.

The government’s Open Ontario Plan will help raise Ontario’s postsecondary education rate to 70 per cent.

Ontario’s new credit transfer system will create flexibility for students so they won’t have to repeat courses when they move to a new college or university, saving them time and money.

LEARN MORE

Find out more about Ontario's colleges and universities.

See how Ontario supports students who need financial help.

Visit the new Training, Colleges and Universities website, featuring new interactive tools, videos, updated information and easier navigation to help you choose what and where to study or train, and how to pay for it.

Tyler Charlebois, Minister’s Office, 416-326-2823

Miriam Hawkins, Communications Branch, 416-325-2746


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