Government Aid
Wondering how to finance your education? At the University of Toronto, there are many financial resources and support options for Canadian students outside of Ontario to help you finance your education.
The Ontario Student Assistance Program (OSAP) is a government financial aid program that assists eligible Ontario residents attending university through a combination of loans and grants. Students from outside Ontario who are Canadian citizens, permanent residents or protected persons may be eligible for financial assistance from their provincial or territorial governments.
If you’re a full-time student with previous OSAP loans and want to keep your OSAP interest-free status without requesting more funding, you must update your registration status to your OSAP account.
It is a student’s responsibility to report their U of T registration status to their loan lender(s).
Full-time students must report their registration status to the National Student Loans Service Centre no later than 21 days prior to the end of the current study period.
Getting Help
If you have questions about OSAP or provincial and territorial student aid programs please contact Client Services in The University Registrar’s Office (URO) and/or your provincial or territorial student aid office.
If you’re a Canadian citizen, permanent resident, or protected person from another province or territory, or sponsored by a First Nations band, you may be eligible for financial assistance through your province or territories’ financial aid program or through your First Nations band. Be sure to check with your government or First Nations band. Don’t forget to apply well in advance before the start of your program!
The University Registrar’s Office(external link) at U of T is a good resource for students and can also assist with confirming enrolment and appeals.
If you are a student who is a U.S. citizen or permanent resident, and are in need of financial aid you can explore various programs such as the William D. Ford Federal Direct Loan Program, alternative/private loans, the 529 College Savings Plan, among others. The University of Toronto offers tax information for students receiving tax education credits.
U of T is a Title IV eligible institution that participates in the William D. Ford Federal Direct Loan student aid program administered by the U.S. Department of Education, and we’re also an approved institution for the administration of subsidized and unsubsidized U.S. Direct Loans and PLUS Direct Loans.
- 529 College Savings Plans
- William D. Ford Federal Direct Loan Program
- Alternative/Private LoansCost of Attendance
The University of Toronto offers tax information for students receiving tax education credits.
Students who are not receiving Canadian government aid for the current study period can apply for a Continuation of Interest-Free Status/Confirmation of Enrollment so that previous Canadian Government Student loans remain in interest-free status.
Full-time students who have received full-time OSAP in the past and want to keep their OSAP interest-free without requesting more funding may now submit an online application with OSAP. Full-time status will be confirmed electronically by the University of Toronto once fees are paid to confirm registration, similar to the way OSAP funding is now released.
The application cannot be submitted more than 15 days before the start of the study period, and the new deadline for the application is 21 days before the end of the study period. Other policies to note:
- Students must have enrollment confirmed within 6 months of their last full-time study period to avoid interest accruing on their OSAP account.
- Students must be registered in a full-time program (at least 60% of full course load; 40% for students with permanent disabilities).
- Confirmation must be processed within the study period; it cannot be done after the end of the study period.
- Continuation of Interest-Free Status requests cannot be backdated.
Interest-free status means that repayment of loans is not required while maintaining full-time registration. In addition, the Government of Canada and/or the province will pay the interest on those loans on the student’s behalf
A Registered Education Savings Plan (RESP) is an education savings account that is registered with the Government of Canada for parents who want to save for their child’s post-secondary education. Once the child (the RESP beneficiary) has graduated from high school and enrolled full-time or part-time in a qualifying post-secondary educational program, the Plan holder can request, on the benificiary’s behalf, to withdraw money from the RESP to help pay for their studies.
Educational Assistance Payments include the interest earned in the RESP as well as any Canada Education Savings Grants, provincial grants, and Canada Learning Bonds received. The money can be used to pay for post-secondary school expenses like tuition, books and transportation. For more information, consult the Canada Revenue Agency.
Canadian citizens or permanent residents who have Registered Retirement Savings Plans (RRSPs), can use the Lifelong Learning Program (LLP) to finance their own education or that of their spouse/partner. Amounts withdrawn under the LLP do not count towards income and the RRSP issuer does not withhold taxes on these amounts. Withdrawals must be repaid over a period of no more than 10 years. For more information, consult the Canada Revenue Agency.