Define what is OSAP? Explain the different types of loans available.
Who qualifies for receiving OSAP?
Answers
Answer:
The Ontario Student Assistance Program ( OSAP ) is a financial aid program that can help you pay for college or university. 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.
Explanation:
Answer:
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Learn about OSAP
Find out how you can get help paying for college or university.
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What is OSAP
Who can get OSAP
Search for OSAP approved schools
How much you can get
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What is OSAP
The Ontario Student Assistance Program (OSAP) is a financial aid program that can help you pay for college or university.
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, we automatically consider you for both grants and loans. If you don’t want to take a loan, and you’re a full-time or part-time student, 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.
What OSAP can help with
OSAP can help you pay for:
tuition
books and equipment
fees charged by your school
living expenses (full-time students only)
child care (for full-time and part-time students with children)
Who can get OSAP
OSAP is open to Ontario residents of any age who are:
Canadian citizens
permanent residents, or
protected persons
Who is not eligible
You may not be eligible for OSAP if you:
don’t meet the academic progress requirements
have enough financial resources, including other forms of government aid, to cover your expenses allowed by OSAP
report income on your OSAP application that’s significantly different from what you reported to the Canada Revenue Agency (CRA)
have defaulted on a student loan
have grant or bursary overpayments or multiple outstanding loan overpayments
failed a credit check
declared bankruptcy or consumer proposal, or consolidation orders
have reached your lifetime limit of student loan funding (340 weeks of funding, 400 weeks of funding for doctoral studies, 520 weeks of funding for students with disabilities)
are an international student
Search for OSAP approved schools
You can use OSAP to go to a private or public college or university anywhere in the world, as long as it’s been approved.
Search for the name of your school
Micro-credentials
If you’re in a micro-credential program, you can only receive OSAP for OSAP approved micro-credentials offered at a public postsecondary institution in Ontario.
Find OSAP eligible micro-credentials
Or, log-in to your OSAP account to see the OSAP approved micro-credentials.
How much you can get
The amount of money you can get depends on your:
education expenses – the amount of money you need for tuition, books, child care care (for full-time and part-time students), personal living expenses (full-time students), supplies and equipment
course load – whether you’re a full-time or part-time student
program hours – for students in micro-credential programs only
personal financial situation – based on you and your family’s income, family size, dependants and other factors
If you use money from your Registered Education Savings Plan (RESP), it won’t affect how much OSAP you can get.
Additional funding may be available if you are:
a person with a disabilit
Ministry of Colleges and Universities
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