OSAP application process becomes more transparent for Ontario students
Toronto, Jan 18 (IBNS): Ontario has decided to allow students -- who had applied for Ontario Student Assistance Program (OSAP) for their college or university studies -- to see OSAP amount and net tuition fees online for each of the programs they have applied so that they can plan, budget and pay for their college or university education, media reports said.
OSAP is a financial aid program to help you pay for college or university, and offers funding either through grants or through student loans.
According to reports, over 225,000 full-time Ontario college and university students have received free average tuition covered by OSAP grants and more than 400,000 Ontario students are receiving grants and loans from OSAP to help pay for college or university.
OSAP applications for the 2018-19 school year opened in November 2017, four months ahead of earlier years.
“We're making the new OSAP even easier to use so more students can benefit from free or reduced tuition. By opening up applications earlier, providing new tools to estimate financial support and delivering grants and loans upfront, students and their families will have the information and support they need to make their dreams a reality,” Deb Matthews, Ontario Minister of Advanced Education and Skills Development was reported to state.
More than one-third of all full-time college and university students in Ontario received free tuition this school year.
OSAP applications, according to official reports, increased by more than 10 percent in 2017 compared to the previous year.
Students from families with a combined income up to $175,000 will benefit from grants and loans to assist with college and university expenses.
Students who qualify for OSAP can choose to turn down the loan, and receive only grants that doesn’t have to be repaid.
In addition, students attending college or university in Ontario receiving OSAP will receive a bill from their college or university which will be reduced by the amount of OSAP aid they will receive.
Any eligible OSAP funds that had not been utilized will be sent to the students directly to cover additional costs, such as living expenses and books.
Savings put away in Registered Education Savings Plan (RESP) -- a government incentive for parents to save for post secondary education for their children -- for college or university will not count against the money a student can receive from OSAP, reports said.
(Reporting by Asha Bajaj)
Image: sourced from Facebook
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