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FINANCIAL ASSISTANCE

FINANCIAL ASSISTANCE

ONTARIO STUDENT ASSISTANCE PROGRAM (OSAP)

This program assists qualifying full-time and part-time students in need of financial aid. It takes into account both educational costs and resources avail-able to the student and is intended to supplement, rather than replace, the financial resources of the student and family.

Applicants must meet certain citizenship, residence and program requirements. Early application is urged - processing time for applications at the Student Support Branch of the Ontario Ministry of Training, Colleges and Universities is four to six weeks.

Applications are usually available from secondary schools and colleges in late April or early May. An application fee of $10 will apply for students filing a paper application for financial assistance. There will be no charge for applications filed through the OSAP website (http://osap.gov.on.ca).The difference reflects the higher cost of processing paper applications.

Should you require information regarding your OSAP application processing, you can contact the Ministry of Training, Colleges and Universities' Integrated Voice Response at 1-900-565-OSAP (6727). You will be charged $2.00 for each call. You can also use the OSAP website at http://osap.gov.on.ca to apply online and to check the status of your application.

HELP FOR STUDENTS IN FINANCIAL NEED

The Government of Ontario has negotiated with the Canada Millennium Scholarship Foundation to provide approximately $113 million to more than 35,000 students per year. There are two classes of awards: General Awards, accounting for 95% of the funding, based on financial need and merit, for students pursuing full-time undergraduate studies at public and private postsecondary institutions, and Exceptional Merit Awards, accounting for the remaining 5% of funding, available on the basis of academic merit to students in their final year of high school. The first awards will be granted in January of 2000.

In addition, the Government of Ontario will provide financial assistance through other programs such as:

� the Access to Opportunities Program ($150M over 3 years, 16,000 new spaces in high-demand engineering and computer science programs)

� the Ontario Student Opportunity Trust Fund ($600M in permanent endowments to provide additional funding for student assistance)

� new Graduate Scholarships in Science and Technology ($50M over 10 years plus $25M from the private sector)

� starting in September 2000, new Aiming for the Top tuition scholarships will help students who earn top marks but require financial assistance to attend college or university ($35M to 10,000 students in awards of up to $3,500 per year for up to four years)

PRIZES, BURSARIES AND SCHOLARSHIPS

For definitions of these terms please see the glossary. For more information on prizes, scholarships and bursaries offered by an individual college, please contact that college's Financial Aid Office.


 
 

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