Students who want to pursue higher education in Ontario Canada can get financial aid through OSAP or the Ontario Student Assistance Program. The government of Ontario implemented this program to assist students who are eligible to attend a post secondary institution, but lack the necessary resources to fund their education. The Ontario student loan is given as a supplement, so you cannot get this funding to completely replace the projected cost of your studies.
The application process is different for graduate students as well as those who are studying full time and part time. OSAP also have loan programs for individuals in special circumstances. Read on to find out more about the different Ontario student loan programs.
Graduate Students: You can submit an application for Ontario Graduate Scholarship program if you are planning to complete graduate level studies or you have finished an undergraduate degree at one of the eligible schools in Ontario. Graduate students can also use the application for full-time studies when applying for OSAP.
Full-Time Studies: You can apply to get an OSAP loan for full time studies if your course is 60% or even more. Persons with a disability can get this loan if they are taking 40% minimum of the course load.
When you are ready to apply you can mail in the application form or complete and submit it online. Of course, the online process is much faster. Ensure that you have all the information on hand when completing the application form because this must be done correctly. It’s best to contact the financial aid office before submitting the application if you are not sure about any of the questions.
Part-Time Studies: The application for OSAP part time program is available online. If you are applying for this program, you will also be considered for the Ontario Part Time Grant as well as the Canadian government grant and loan.
You can apply for OSAP part time loan program or the Ontario Special Bursary program if you are planning to take 20% to 59% of the overall course load. Students with a disability who are taking 40 to 59 % of the full course load can apply for a part-time or full-time loan.
Financial assistance for special circumstances
Ontario student loan program offer financial assistance to individuals with disabilities. Apart from the student loans, OSAP also offer many bursaries and grants to special need students based the guidelines below:
Students who are taking up to 60% of the course load can submit application for OSAP full-time loans. Those who are taking below 60% and over 40% of the full course can apply for either OSAP Part-Time or Full-Time loans. Lastly, students taking 20% to 40% of the course load can submit application for OSAP Part-Time loans.
In addition to the above mentioned loans which are offered through the Provincial and Federal governments, you can also get a student loan from one of the private banking institutions. So, if you are not eligible to get an Ontario student loan through any of the government programs you can get financial assistance from a bank.