Ontario Student Assistance Program (OSAP)

Share this:

Share on twitter
Share on linkedin
Share on whatsapp
Share on reddit

Definition

The Ontario Student Assistance Program (OSAP) is a financial help program offered by governments of Canada and/or Ontario for eligible students to pay for their college or university (public or private). OSAP offers two different types of funding for students to pay for their college or university: Loan and Grant.

A loan is the money that a student borrows from the governments of Canada and/or Ontario and must be paid back.

A grant is the money that a student typically does not have to pay back. A grant is usually awarded based on financial need and/or other factors.
Explore Definition

Hi, We're Chango!

Personal Finance, and Financial Education all in one.

Subscribe to stay up to date.

We’re adding new financial terms every week subscribe to be updated on this and much more. You’ll also gain access to be one of the first to try the one and only financial wellness app.

LAYMEN TERMS

If you’re planning to attend college or university program in Ontario, but do not have enough money to pay the fee, you can apply for the Ontario Student Assistance Program (OSAP) and receive financial help from the government. This help you could receive in the form of a loan (money that you need to pay back) or a grant (money you do not need to pay back).

HOW DOES THIS TERM APPLY TO YOU

Suppose, a student applied for Ontario Student Assistance Program (OSAP) for his/her college degree, met all the criteria and got the amount as a grant. This money, the student received from the government of Ontario, can be utilized to help pay for:
• Tuition
• Transportation
• Books, equipment and supplies
• Compulsory student fees charged by a school
• Living expenses (full-time students only)
• Child care (for students with children)

Be the first to try the app

Sign-up and get exclusive access to try the app when we launch. It’s time to control your finance.

About us

Control all aspects of your finances. Learn about what you need to know to make smart decisions. But most of all, have trust that we’re here to help. In the end, you’ll have more time to do what you love.
Chango - Unifying your financial world. | © 2018 Chango Card Inc.

Join thousands of people getting financial infromation delivered to there inbox

  • Bias Free & Jargon Free information
  • 2 minute read
  • Free, Forever
  • Content that matters for you
  • Join over 5000 people are part of this community

Rethinking personal finance

Subscribe to be part of the next wave in finance

Ready for something awesome?