Ontario Student Assistance Program (OSAP)
Ensure that you always check the Government of Ontario website for the most current information re the Ontario Student Loan Program and its interplay with the federal loans program.
An excellent website for such information is: http://osap.gov.on.ca/eng/eng_osap_main.html
OSAP is a “harmonized” or “integrated” federal and provincial student loan program (meaning that OSAP hands out loans which include both the federal student loans and the provincial student loans component – making it unnecessary for students to apply to both the federal and provincial governments for assistance).
As of August 31, 2005, the maximum amount which can be loaned out through the OSAP harmonized program is: $275 per week of study.
If the study period is taken as being 34 weeks, then the maximum amount which a student may borrow from the OSAP harmonized program, for any one year, is $9350
Again Please Always Check the Government of Ontario website (or the above website) for the most up-to-date information.
