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Financial Support for University Studies

University can seem expensive, but there are many different ways for you to fund your university studies.

Universities
Scholarships and awards can help to fund your education and are available through most universities. Universities do not require you to repay these scholarships and awards. Some scholarships are awarded based on financial need; others are awarded based on community involvement or academic achievement. Some scholarships require an application, while others do not.

To find information about the scholarships available to you, check out the eINFO Scholarships search. You can also find more detailed scholarship information on the universities' websites.

Reminder: Scholarships that require an application may have early deadlines - make sure that you do your research and apply on time.

Government
The Ontario and Canadian governments both have programs that provide financial assistance to those who need it. Check out the following link for more information.

Ontario Student Assistance Plan (OSAP)
OSAP provides loans to students pursuing postsecondary studies, based on financial need. OSAP loans are interest-free until you have graduated from university, and you start repaying the loans six months after you have graduated. Find details at: http://osap.gov.on.ca.

30% Off Ontario Tuition
The Ministry of Training, Colleges, and Universities announced a new “30% off Ontario Tuition” program to help reduce tuition for students and their families. For more information visit:
https://osap.gov.on.ca

Personal
If your parents' household income is too high, OSAP may not cover all the costs of university. In this case, you may want to look into personal bank loans or lines of credit. Unlike OSAP, bank loans do charge interest immediately. Most banks provide specialized student loans - contact a few local banks to compare their products.

Other
There are many organizations and companies around the country that offer scholarships, awards and prizes, often based on competition. You must actively seek out and apply for these awards. The internet is a great source of information - do your research and remember to apply early. It's also worthwhile to look into scholarships offered by organizations or community groups that you or your family belong to, as these groups often have special scholarships available only to members and their families. Likewise, ask your parents and family about any financial support programs that may be offered through their workplace. Many companies provide scholarships to employees and their families.