Province streamlines OSAP loan system
Wednesday, September 12, 2012 by: SooToday.com Staff
NEWS RELEASE
DAVID ORAZIETTI, MPP
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Orazietti announces enhancements to OSAP loans system
Province streamlining OSAP, making postsecondary education more affordable
SAULT STE. MARIE - Today the provincial government introduced a new streamlined application process for full-time college and university students seeking help from the Ontario Student Assistance Program (OSAP) announced David Orazietti, MPP.
“By streamlining the OSAP application process and reducing tuition costs by 30 percent for full time students at Algoma University and Sault College, our government is delivering important financial support so that more individuals have the opportunity to gain a post-secondary education.” said Orazietti.
This year, the government has introduced OSAP Express, a streamlined application process for the over 300,000 OSAP applicants and recipients.
OSAP Express:
- Requires a student to sign a loan agreement only once throughout their entire postsecondary studies
- Speeds up the enrolment verification process and direct deposit options
- Means no more lining up for hours, multiple times per semester of every year at financial aid offices
In addition to a streamlined application process for OSAP, students will benefit from the new 30 Percent Off Ontario Tuition grant.
The grant helps keep the cost of postsecondary education affordable by offering refunds of $1,680 to eligible students in university or college degree programs and $770 to students in college diploma and certificate programs.
Helping Ontario students with the cost of university, college or an apprenticeship is part of the Ontario government's plan to keep postsecondary education within all families' reach, while building the best-educated workforce in the world.
Quick facts
- OSAP Express will result in government savings of over $150,000
- Since the January launch of the 30 Percent Off Ontario Tuition grant, 200,000 postsecondary students have received money back to help offset the cost of tuition
- In 2011-12, Ontario invested approximately $1.1 billion in student grants and loans including the new 30 Percent Off Ontario Tuition grant
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