Students in Ontario rejoice!
The Ontario Student Assistance Program (OSAP) has just announced that it’s now accepting applications for the province’s newly revamped student loan program and is touting that free tuition is available for more than 210,000 students.
A press release from provincial government reads, “Removing the financial barriers to higher learning and making postsecondary education more affordable is part of our plan to create jobs, grow our economy and help people in their everyday lives.”
Deb Matthews, Minister of Advanced Education and Skills Development is quoted as saying,
We’re modernizing OSAP in many ways, from the very large to the very small. The biggest change is free average tuition for postsecondary students from many low- and middle-income families, and more grants for most students. But we have also heard from current students that navigating the OSAP application can be difficult. With our new, user-friendly application, as well as our handy OSAP calculator, students now have the tools in hand to better plan for their future education and career paths.
Students can see how much $$$ they are eligible for using a new online calculator that breaks down financial aid into loans as well as new generous grants.
Per the example provided in the press release, a single parent with three children and a $60,000 income is “eligible for grants totalling more than $16,000” which makes the estimated $6,500 university tuition effectively free and lets the student hold onto more than $10K in grant money in addition to a repayable loan.
It might be time to start considering going back to school.