The objective of student financial assistance is to help students from lower-income families meet the costs of postsecondary education. The intention is to promote equality of opportunity for postsecondary studies by providing financial assistance for educational costs and basic living expenses. You (and your family, if applicable) are responsible for meeting the basic costs of your post-secondary education.
The 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 the Ontario Student Assistance Program (OSAP) through an assessment of your application. Educational costs (such as tuition fees, books and supplies, basic living expenses) and the resources that you (and your family, if applicable) are expected to contribute are taken into consideration. It is not the purpose of student financial assistance to supply all the assistance you may need to meet your educational and living costs. As the amount of loan you are entitled to receive is based on the information you provide, it is essential that you promptly notify the ministry or your financial aid office of any change to your financial, academic, family, and/or study period status.
The Province of Ontario is committed to ensuring that all qualified students can continue to have access to high-quality educational programs that will provide them with the skills and expertise they need for future success. The Province of Ontario provides the Ontario Student Loan portion of the Canada-Ontario Integrated Student Loan in addition to a number of scholarships and bursaries to assist all eligible students. The province is also providing a wide range of initiatives to help students manage their student loans.
The Government of Canada believes that lifelong learning is essential in order to keep pace with the changing needs of today’s global, knowledge-based economy. In today’s job market, education brings personal success. It holds the key to a better job and a higher income while helping Canadians to gain a better understanding of the world around them, play a more confident role as Canadians, and lead more satisfying lives.
Through the Canada portion of the Canada-Ontario Integrated Student Loan, Canada Study Grants, the Canada Education Savings Grant Program, and the Canada Millennium Scholarship Foundation, the Government of Canada helps students receive the support they need to gain access to postsecondary education. In addition, it helps them acquire the knowledge they need to succeed in an increasingly well-educated, adaptable, and skilled workforce.