How OSAP Student Loans Work

How OSAP Student Loans Work

OSAP is the Ontario Student Assistance Program. It is a program run by the Ontario Ministry of Training, Colleges and Universities (MTCU). MTCU is responsible for administering both provincial and federal student financial aid programs for Ontario students taking postsecondary studies.

OSAP provides eligible Ontario students with financial aid to help pay for education-related costs such as tuition, books, living costs, and transportation.

To learn more about the potential costs of your education and your repayment obligations, contact your local college today.

Colleges like Canadian College in Windsor can provide guidance on how to apply for OSAP.

Visit Canadian College Windsor (CCHST) for details (Click Here)

Purpose of OSAP

OSAP helps to ensure all qualified students have the opportunity to pursue a postsecondary education in Ontario by providing financial support for educational costs and basic living expenses to students who do not have the resources to meet these costs.

It is not the purpose of student financial aid to supply all the assistance you may need to meet your educational and living costs. Its 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 OSAP through an assessment of your OSAP application.

Researching Colleges?

An important tell tale of a quality school that gets students employed is the OSAP default rates. If a school does prepare students to work in their field, they often cannot afforest to repay their loans. This creates a OSAP defaults.

Colleges with a high default rate are lower quality schools. Here is a list of OSAP defaults rates among Private Career Colleges.

Notice our Featured College, Canadian College of Health Science & Technology has a very low default rate. This means Canadian College students are getting employed and easily repaying there student loan.

Click Here to VIEW DEFAULT RATES

 

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