What is OSAP?
OSAP is a federal government plan, administered by the provincial government, which provides funding to students from lower income families to meet the costs of post secondary education. This plan covers both the Canada Student Loan, which pays 60% of the funding, and Ontario Student Loan, which pays 40% of the funding. When you are applying for OSAP you are automatically considered for both loans if you meet the Ontario residency requirements. If you are a single student, you may be eligible to receive loans of up to $320 per week of study (33 weeks-$9,075). If you are a student who is married or is a sole-support parent, you may be eligible to receive loans of up to $545 per week of study (33 weeks-$16,500).You must be a full time student (60% of a courseload each term) in order to qualify for OSAP funding. To apply or find out more about the program please visit here.
Last update: 2008-06-12 11:18