The Ontario Student Assistance Program, better known as OSAP, has helped many students around Ontario. OSAP was created to give students who cannot afford an education, the chance to attend post secondary.
The requirements on who is eligible for OSAP varies and is based on the amount on income students parents make every year. If you are accepted for OSAP, you are given enough money for tuition and other expenses to last you a full year.
Kelly Armstrong, The financial advisor in student aid says, ” Students, once they are done school, will have to start paying back OSAP six months from the day they graduate. The payments are monthly, and are usually very small depending on how much OSAP loaned you.” She also adds that many students often spend their OSAP money on things that are not related to school. “Students tend to think that once their OSAP money runs out, that they will just magically get OSAP again, that is not the case”.
Students who are applying for OSAP for the January school term are eligible to apply now. You can go to www.osap.gov.ca to start the application process.