The Ontario Student Assistance Program (OSAP) is a financial aid program that provides financial assistance to Ontario residents to help pay for college.
OSAP offers funding through:

  • grants: money you don’t have to pay back
  • a student loan: money you need to repay once you’re done school

When you apply for OSAP, you are automatically considered for both grants and loans. If you don’t want to take a loan, you can decline it after your application is approved.
There are also programs to help you repay your student loan once you’re done school.

The amount of money you can get depends on your:

  • education expenses – the amount of money you need for tuition, books, child care, personal living expenses (full-time students), supplies and equipment
  • course load – whether you’re a full-time or part-time student
  • personal financial situation - based on you and your family’s income, family size, dependents and other factors

If you use money from your Registered Education Savings Plan (RESP), it won’t affect how much OSAP you can get.
To apply for OSAP visit their website at www.ontario.ca/OSAP

OSAP Repayment

You may need to start paying back your OSAP loan six months after you leave studies. You’ll be making payments to the National Student Loans Service Centre (NSLSC), not to OSAP directly.
You don’t need to start paying back your OSAP loan if your school confirms your enrolment for the next study period and we approve your application for one of the following programs:

  • OSAP for Full-Time Students
  • Continuation of Interest-Free Status

To find out more about repaying your student loans you can visit the  OSAP website or visit the NSLSC website for the most up to date repayment video.