New Ontario Student Grants
As many of you are aware, the recent Ontario budget announced a new Ontario Student Grant (OSG) system, beginning in 2017-18, which will modify the current Ontario Student Assistance Program (OSAP) and replace the Tuition and Education Tax Credits. Students from households earning under $50,000 will pay no tuition and about half of students from families earning less than $83,000 may be tuition-free. Students are expected to contribute a maximum of $3000 towards living or transportation costs. Under the new system, no student is forced to take loans in order to be awarded grants.
The new grant system is open to all Ontario residents attending a Canadian university or college. Students of any age are eligible. The OSG will not support students attending post-secondary institutions outside Canada.
For examples of how the new system will work, click here.