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Changes Are Coming To OSAP, Students Need To Know

The revamped OSAP program is no longer a loan-based program, but rather a grant based program.

Previously, the province was seeing more students from high-income families going right into post-secondary studies immediately after graduating high school, but it was not the same case with students from lower-income families. Since the changes in the OSAP program have been implemented, there has been an increase in students from lower-income families entering post-secondary students right after graduation.

The province has also allowed students to apply sooner so they can plan ahead for expenses. This year, parent contribution expectations have been lowered meaning middle class will benefit more, there is no age limit for the program, repayment isn’t expected until six months after graduation and interest won’t be charged until a student makes a wage of $35,000 annually.

There will be an OSAP calculator that allows applicants to supply general information and receive an estimate of the grants, loans and additional education expenses.

A parent with three or more children could receive $40,000 in financial support to go to university.

As for students who took OSAP under the previous program, the new rules are not retroactive.

To discover what you are eligible for under the OSAP plus program, visit Ontario.ca.

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