Changes to OSAP will allow students from families with incomes under $50,000 and single adult students with income under $30,000 to have free tuition — defined as grants from OSAP that equal or exceed the average cost of tuition. The Ontario weekly assistance levels will increase to $450/week (up from $355/week in 2016–17) for students who are married or have children. The new OSAP will be more responsive to family size as grant funding will be available to families with incomes above $160,000, as the income threshold will increase with additional family members.
For a typical two-term academic year, fulltime single students will be eligible for up to $13,260 in loans and non-repayable grants, while married students and sole support parents can get up to $22,440.
“Free average tuition” means a student will receive OSAP grants that will equal or exceed:
- the actual tuition for an undergraduate arts and science university program in Ontario;
- the average tuition for a high cost university program, such as engineering; or
- the average tuition for a regular college diploma program across the province.
Net tuition billing means that a student’s OSAP grant funding and institutional aid would be considered in the calculation of tuition costs and the student would pay only the difference – the student would only be billed for what they actually owe once OSAP and institutional aid are taken into account. The government will work with universities and colleges to implement net tuition billing by 2018-19. Collège Boréal is currently working on implementing this new process by August 2017.
The government will insure that no eligible students under the 30% Off Ontario Tuition Grant will receive less non-repayable aid than they are eligible for now.
The changes to parental contributions, which will be in place by 2018–19, will increase the income threshold at which OSAP expects a parental contribution. This means that parents will be expected to contribute less of their money towards their child’s education – their children will instead be supported through interest-free and low-cost loans through OSAP. Ontario will also reduce expected financial contributions from the spouses of married students. This will make it easier for married students to receive OSAP.
- You can get ready now by registering with OSAP. You’ll create your OSAP profile and get your OSAP Access Number. When the application opens, you can complete and submit your application.
- Find out how much you could get to help pay for your postsecondary education.
- OSAP will reach out to you by email once the full application becomes available in the spring.
- Track the status of your application online, and learn how much money you’ll get and when. You can even do this from your phone!
- Upload, mail or drop-off the required supporting documentation to the financial aid office at the college or university you plan to attend.
- For students who apply for OSAP and submit all of their required documents at least 60 days before the start of school and pay the $ 500 non-refundable deposit, they should have their OSAP funding a week before classes start.
For More Information :
Visit the OSAP website: ontario.ca/osap