Introduction to OSAP (Ontario Student Assistance Program)
OSAP provides eligible Ontario students with financial assistance to help pay for their tuition, books, mandatory fees, living costs and transportation. The OSAP program provides assistance to about 200,000 Ontario students or approximately 35 per cent of college and university students per year.
It provides loans, grants, scholarships and bursaries based on a formula that compares your educational costs to expected contributions from your parents or your spouse (if applicable) and your own income and assets. When you apply for OSAP you are applying for 20 separate loan, grant, bursary and scholarship programs.
Types Of Assistance While In School
- Funded Jointly
- Canada-Ontario Integrated Student Loans
- Millennium-Ontario Access Grants
- Federally- funded
- Canada Access Grants
- Canada Study Grants
- Canada Millennium Bursaries
- Canada Part-Time Student Loans
- Provincially-funded
- Ontario Access Grants
- Queen Elizabeth II Aiming for the Top Scholarship
- Bursary for Students with Disabilities
- Child-Care Bursary Plan
- Ontario Special Bursary Plan
- Ontario Work Study Plan
- Bursary for Students with Disabilities Attending Out-Of-Country Postsecondary Institutions
OSAP's Objective
According the Ministry of Training, Colleges & Universities:
"The objective of student financial assistance is to assist eligible students who do not have the resources to meet the costs of postsecondary education. The intention is to promote equality of opportunity for postsecondary studies ... The purpose is to supplement, not to replace, the financial resources that you (and your family, if applicable) are expected to contribute. Assistance is based on financial need as established by the federal and/or provincial governments and as determined by the ministry through an assessment of your Ontario Student Assistance Program (OSAP) application. Educational costs (such as tuition fees, books and supplies, basic living expenses) and the resources that you (and your family, if applicable) are expected to contribute are taken into consideration. It is not the purpose of student financial assistance to supply all the assistance you may need to meet your educational and living costs. As the amount of funding you are entitled to receive is based on the information you provide, it is essential that you promptly notify the ministry or your financial aid office of any change to your financial, academic, family, and/or study period status."
Who is Eligible for OSAP?
To be considered for OSAP, you must meet the following requirements:
- Be a Canadian citizen, Permanent Resident or Protected Person;
- Meet Ontario residency requirements;
- Be enrolled in an approved postsecondary institution taking an approved program;
- Be taking, at least 60% of a full course load, or 40% per cent if you have a permanent disability.
Maximum Assistance Available for Full time Students
| Maximum Weekly Financial Assistance | Typical Academic Year (34 weeks) |
|
| Single Students | $350 | $11,900 |
| Sole Support or Married Students |
$545 | $18,530 |
How OSAP Assistance Is Calculated
Your OSAP assistance is based on a formula that compares your educational costs to expected contributions from your parents/spouse (if applicable) and your own income and assets:
| Allowable Educational Costs | minus | Expected Financial Contribution | equals | Financial Need |
| Tuition & Compulsory Fees Books and Supplies Equipment Computer Costs Personal Living Expenses Child Care Travel |
Student Income Student Assets Parental Income Spousal Income Spousal Assets |
Federal Assistance (60% of assessed need subject to maximum) Provincial Assistance |
Some of the Allowable Educational Expenses, such as tuition, compulsory fees, equipment, books and supplies are provided to OSAP by the University. Other expenses such as personal and living allowances are determined by the Ministry of Training, Colleges & Universities.
You will receive assistance if: Allowable Educational Expenses > Expected Financial Contribution
Return to Government Aid, Student Loans & Grants