International Student Financial Assistance Program?

Ontario Student Assistance Program in Ontario?

• Has anyone heard about a reduction in the payback amount of OSAP loans? I have been told that under certain circumstances, OSAP can be reduced by about 30%. Does anyone know about this? If so, please point me in the right direction for information on how to qualify. I have searched the web and am convinced that I am on a wild goose chase or it is a little known secret. Any help is appreciated.

• Answer:

  You may be referring to the Ontario Student Opportunity Grant. Everyone who gets more than 7300 (for a 2 semester program) or 10950 for a 3 semester program is considered for the OSOG. You must have reported your income accurately, completed your program, done your income tax, and kept your loans in good standing. When you login to your OSAP account, there is a link to OSOG. Click on it and you will see if income verification has been done on your account and what amount of money you will not have to pay back. Normally income verification happens after you have completed that academic year. In Ontario there is no other reduction available to most students. There is no reduction for good marks (I run into that one a lot). Go to the OSAP website osap.gov.on.ca or to canlearn.ca and look up "Ontario Student Opportunity Grant" for more details. Or, you may be thinking of the Ontario Tuition Grant. If you attend a publically funded community college or university you are eligible for a 30% tuition grant. Whether you get it or not depends on family income and other factors.