The Ontario government is reducing financial barriers for full-time students attending postsecondary education. Starting immediately, those most in need can apply to the Ontario Student Assistance Program (OSAP) for the 2020-21 school year.
“Investing in higher education is one of the most important investments a person can make in their future,” said Ross Romano, Minister of College and Universities. For many students, the loans they receive from OSAP are their first major financial commitment.
To support a greater understanding of the program and the responsibilities as an OSAP recipient, applicants will be required to complete an information module that highlights basic information about the student assistance program and financial literacy. This is knowledge students will need to make informed financial decisions today, and throughout their lives.
The province is providing a six month deferral of OSAP payments, and accrual on OSAP loans to borrowers in good standing. They’ve also supported virtual learning efforts including offering final exams online.
The government is now preparing for the 2020-21 school year. They’re work closely with post-secondary institutions to ensure students receive the high-caliber education and training they need to obtain rewarding careers. Acting on the advice of the Chief Medical Officer of Health, Ontario’s postsecondary institutions are developing their plans for the fall term – exploring a range of delivery options depending on the trajectory of COVID-19. To learn more about the OSAP program including how to apply, visit their website